The Global Geotechnical Instrumentation and Monitoring Market size is expected to reach $5,113.6 million by 2027, rising at a market growth of 8.2% CAGR during the forecast period.
Geotechnical instrumentation refers to a rudimentary component of surface and underground mining engineering. It assists in dealing with devices that further streamline the construction of a project by ensuring the appropriateness of several other determinants like vibration, strain, load, pressure, stress, and other parameters, which can facilitate the optimal and secure construction of a project. In addition, it assists to check the ground practicality for design purposes and design calculations of a project.
With the help of Geotechnical instrumentation and monitoring, companies become capable of minimizing the errors related to geotechnical infrastructure. The increasing number of supportive government initiatives, the rapid pace of urbanization, and high economic development, particularly in the developing nations would create new growth avenues for the players operating in the overall geotechnical instrumentation and monitoring market.
COVID-19 has brought a massive health emergency with itself worldwide and uncountable casualties. The lockdown restrictions have created various sorts of supply chain disruptions in numerous regions. During the first two quarters of 2020, the major geotechnical instruments and software vendors were significantly impacted owing to the outbreak of the COVID-19 pandemic. As many regions imposed stringent lockdown and stay-at-home orders, massive disruption in the demand and supply was observed, resulting in declined manufacturing capabilities of the companies.
The halt of numerous infrastructure projects had a negative impact on service vendors as well during this global pandemic period. However, since the beginning of the third quarter of 2020, the strict lockdown restrictions were relaxed across various regions, the market has observed a gradual recovery. Since the starting of the third quarter, many infrastructure projects have been restarted and with the surge in the number of new infrastructure projects, the players operating in the market are likely to witness new growth avenues in the upcoming years.
Well-established infrastructure substantially enhances productivity, resulting in economic development and the well-being of the individuals in various ways. Developed infrastructure helps to achieve higher efficiency in the public as well as private sectors and is crucial for the regional development. Moreover, the growth of the geotechnical instrumentation and monitoring market would be driven by the growing public as well as private investments on the development of advanced infrastructure.
All the civil engineering projects need constant monitoring pre and post-construction phases in order to ensure the safety of the people living on a particular building. Therefore, geotechnical monetization is a term utilized for the health check-up of the buildings and mines. Along with inspection of the construction sites, these tools also help in hypothesis testing and design verification. These tools help gather the data which further assists to modify the model according to the requirements in the beginning phase.
All kinds of infrastructure projects have their different sets of necessary aspects, and the work of geotechnical instruments’ operators is to identify the aspects and choosing the apt instruments to assess those parameters accordingly. The instrument kinds and their details, accuracy, resolution, and range are crucial and thus, trained operators are required to manage these instruments. In addition, the data needed during the construction and post-construction also fluctuates on the basis of kind of construction.
Based on Component, the market is segmented into Services and Hardware & Software. The services segment is expected to garner the highest revenue share of the geotechnical instrumentation and monitoring market during the forecast period. The number of market players providing Services is becoming higher as compared to the companies providing instruments and software.
Based on structure, the market is fragmented into Bridges & Tunnels, Buildings & Utilities, Dams, and Others.
Based on networking technology, the market is segmented into Wire and Wireless. The wired networking technology segment would garner the maximum revenue share of the market. The wireless networking technology segment would display the highest CAGR during the forecasting years.
Based on End User, the market is segmented into Buildings & Infrastructure, Energy & Power, Oil & Gas, and Mining. The buildings & Infrastructures segment is likely to emerge as the leading segment in the geotechnical instrumentation and monitoring market during the forecasting period.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 2.8 Billion |
| Market size forecast in 2027 | USD 5.1 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 8.2% from 2021 to 2027 |
| Number of Pages | 259 |
| Number of Tables | 444 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Structure, Networking Technology, End User |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America segment covers the highest market share. The Asia Pacific would exhibit the highest growth rate in the geotechnical instrumentation and monitoring market over the forecast years.
Free Valuable Insights: Global Geotechnical Instrumentation and Monitoring Market size to reach USD 5,113.6 million by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fugro N.V., COWI A/S, James Fisher and Sons plc, John Wood Group plc, Keller Group plc, Terracon, Geosense ltd., GEOKON, Sisgeo S.r.l., and Geocomp Corporation.
By Component
By Structure
By Networking technology
By End User
By Geography
The global geotechnical instrumentation and monitoring market size is expected to reach $5,113.6 million by 2027.
Increase in the investments of infrastructure are driving the market in coming years, however, absence of trained operators for deployment and calibration of geotechnical instruments limited the growth of the market.
Fugro N.V., COWI A/S, James Fisher and Sons plc, John Wood Group plc, Keller Group plc, Terracon, Geosense ltd., GEOKON, Sisgeo S.r.l., and Geocomp Corporation.
Geotechnical instrumentation and monitoring market estimated to grow at a CAGR of 8.2%.
The North America market dominated the Global Geotechnical Instrumentation and Monitoring Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,757 million by 2027.
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