Infrastructure Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Infrastructure Monitoring Market is Segmented by Technology (Wired, Wireless), Offering (Hardware, Software and Services), End-user Industry (Mining, Aerospace and Defense, Civil Infrastructure, Energy), and Geography.

Market Snapshot

infrastructure monitoring market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 15.6 %

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Market Overview

The Infrastructure Monitoring Market is expected to register a CAGR of 15.6% during the forecast period. The market is expected to be affected by the recent outbreak of the COVID-19 pandemic. The slowing down of the economy is expected to reduce expenditure on infrastructure and thereby reducing growth figures for the market in a post-corona economy. However, the companies are expected to invest in their IT systems to develop remote monitoring capabilities in order to avoid a similar situation in the future. This is expected to act as a big stimulus for the market in the medium to long run.

  • This growth can be attributed to the growing use of advanced sensor technologies, declining cost of sensors, and increasing capital investments for structural health monitoring in order to ensure better maintenance of critical infrastructure across the end-user industries.
  • The growing demand for predictive maintenance in order to reduce life cycle maintenance costs is one of the major drivers of this industry. MEMS inertial sensors are extensively used predictive condition monitoring of buildings, production systems, and even vehicles. This has been further augmented by the emergence of IoT and advanced analytics that are continually improving the functionality of such systems.
  • IBM Corporation, in February 2019, announced a new portfolio of Internet of Things (IoT) solutions that team AI and advanced analytics to help asset-intensive organizations, like the Metropolitan Atlanta Rapid Transit Authority (MARTA), to improve maintenance strategies.
  • Moreover, the ability to remotely monitor critical infrastructure using smart sensors has led to the proliferation of the market. This is extremely helpful in the end-user segments, like mining, where structural monitoring using smart sensors enables companies to save money and lives. Inertial sensors from First Sensor that have the capability to achieve resolutions of 10 µg or 0.0005° (2 arc seconds) are extensively used for remote monitoring of buildings, bridges, and wind turbines.

Scope of the Report

Structural health monitoring (SHM) Systems are based on nondestructive testing (NDT) technologies and are used to anticipate the deterioration of a structure to avoid accidents. The use of statistical processing systems in conjunction with SHMs makes it possible to optimize product life while simultaneously reducing maintenance costs. The market has been segmented on the basis of technology, offering, and their applications in various end-user segments. The scope of the study is currently focused on key regions such as the North America, Europe, Asia-Pacific in addition to Latin America, and Middle East & Africa.

Technology (Qualitative)
Wired
Wireless
Offering
Hardware
Software and Services
End User Industry
Mining
Aerospace and Defense
Civil Infrastructure
Energy
Other End User Industries
Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Key Market Trends

Energy Sector is Expected to Account for a Large Share of the Market

  • The remote maintenance benefits that Structural Health Monitoring Systems offer is extremely beneficial for both onshore and offshore systems in this sector. In a wind turbine, for instance, central data modules are being increasingly used to transmit data pertaining to structural conditions. The introduction of cloud solutions has enabled this structural health monitoring data to be continually collected and evaluated for predictive maintenance. Most wind farm operators leverage SCADA data for remote monitoring and management.
  • Moreover, Structural Health Monitoring solutions led to huge cost savings through early detection, thereby facilitating higher investment in future predictive maintenance solutions. Duke Energy deployed Schneider Electric’s Avantis PRiSM technology to save USD 7.5m through early crack detection in a turbine rotor. This has ensured the prevention of cost over-runs through asset optimization and maintenance.
  • The non-invasive structural monitoring remains extremely critical to the nuclear energy sector, which, by design, supports such technologies. The sensors in nuclear reactors are installed during concrete casting or by inserting them into holes that are drilled into the existing structures.
  • In the next four years, more than 67 nuclear reactors in the world are estimated to reach an age of over 40 years of the operational period. As nuclear power plants age, the importance of maintenance increases, and this is expected to create market opportunities for the market studied.
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Asia-Pacific is Expected to be the Fastest-growing Market

  • The rapid expansion of the end-user industries that have major avenues for the application of structural health monitoring systems is leading to the expansion of the market in the region. For instance, according to World Nuclear Association, Asia-Pacific region is witnessing significant growth in terms of electricity generating capacity and specifically nuclear power. The region is home to about 135 operable nuclear power reactors, and about 35 are under construction, with fastest growth in nuclear generation, expected in China. Thus, the need for maintenance of those power plants will also increase, which in return will create a market for structural monitoring.
  • The application of infrastructure monitoring equipment within Aerospace and Defense is further driving the market. For instance, according to the according to the Stockholm International Peace Research Institute (SIPRI), China and India have enhanced their nuclear arsenal over the last year. The Swedish think-tank pointed out that China is significantly modernizing its nuclear arsenal. According to the SIPRI Yearbook 2020, China, Pakistan, and India have 320 160 and 150 nuclear warheads. Such existence mandates the need to monitor them so that they don’t fall into the wrong hands.
  • Further, China has approximately 500 smart city pilot projects, the highest in the world, covering big and small cities. The Chinese Government had invested about USD 74 Billion of public and private investment in these cities by 2020. According to China Academy of Information and Communication Technology, the annual investment into Smart City projects is expected to rise to CNY 1.23 Trillion (approximately USD 181.7 Billion) in 2021 from CNY 375.2 Billion (approximately USD 55 Billion) in 2017.
  • Additionally, growing smart city projects are expected to provide opportunities for the growth of the market in the country. For instance, Smart City Mission, a scheme in India is worth USD 35.7 Billion and consists of 2301 projects across various states. In the Indian Union Budget for the FY 2020-2021, five new smart cities have been announced under the smart cities’ mission. The development of smart infrastructure is expected to open up new avenues for structural monitoring systems.
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Competitive Landscape

The competitive landscape of the structural health monitoring systems remains fragmented, with several small and medium-sized players operating in the market. The evolving needs of the end-user segments are driving the introduction of new sensors and platforms that support structural health monitoring. Some of the recent developments in the market are as follows:-

  • June 2020 - National Instruments unveiled an updated brand identity including a new logo, visual identity, enhanced digital experiences and a brand campaign. Now known simply as NI, it is modernizing the test and measurement industry by coupling its rich software heritage with new cloud and machine learning capabilities.

Recent Developments

  • February 2021 - SNCF Réseau & SISGEO SRL are collaborating in developing innovative IoT solutions for the railway infrastructure monitoring. Over the last 4 months, a new instrument for measuring the “dance” of the rail for each train pass together with the static rail inclination has been successfully tested in real conditions.
  • March 2020 - BhilaiSteel Plant (BSP) in India is ramping up its production facilities to meet Indian Railways’ requirement of running high-speed trains, metro trains, doubling and gauge conversion of railway tracks as well as for track renewals and laying of new lines. The plant has produced 11.65 lakh tonnes of rails in the financial year 2019-2020.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 The End-user Segments like Energy and Civil Infrastructure will Drive Growth

      2. 4.2.2 Introduction of Advanced Sensor Technologies

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Implementation and Deployment

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

    5. 4.5 Industry Value Chain Analysis

    6. 4.6 Assessment of Impact of Covid-19 on the industry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technology (Qualitative)

      1. 5.1.1 Wired

      2. 5.1.2 Wireless

    2. 5.2 Offering

      1. 5.2.1 Hardware

      2. 5.2.2 Software and Services

    3. 5.3 End User Industry

      1. 5.3.1 Mining

      2. 5.3.2 Aerospace and Defense

      3. 5.3.3 Civil Infrastructure

      4. 5.3.4 Energy

      5. 5.3.5 Other End User Industries

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia Pacific

      4. 5.4.4 Latin America

      5. 5.4.5 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 National Instruments Corporation

      2. 6.1.2 Campbell Scientific Inc. Company

      3. 6.1.3 Pure Technologies Ltd Company (Xylem Inc.)

      4. 6.1.4 Structural Monitoring Systems plc

      5. 6.1.5 Acellent Technologies Inc.

      6. 6.1.6 Geocomp Corporation

      7. 6.1.7 Geokon Inc.

      8. 6.1.8 SISGEO SRL

      9. 6.1.9 AVT Reliability Company (AES Engineering Ltd)

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OUTLOOK

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Frequently Asked Questions

The Infrastructure Monitoring Market market is studied from 2018 - 2026.

The Infrastructure Monitoring Market is growing at a CAGR of 15.6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

National Instruments Corporation, Pure Technologies Ltd. Company (Xylem Inc.), Campbell Scientific, Inc. Company, Structural Monitoring Systems plc, Acellent Technologies, Inc. are the major companies operating in Infrastructure Monitoring Market.

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