According to a new report, published by KBV research, The Global Infrastructure Monitoring Market size is expected to reach $9.6 billion by 2030, rising at a market growth of 10.4% CAGR during the forecast period.
The Construction segment acquired maximum revenue share in the Global Infrastructure Monitoring Market by Vertical in 2022; thereby, achieving a market value of $2.8 billion by 2030. Due to the extensive nature and complexity of construction projects, there is a rising focus on monitoring & assuring infrastructure safety, quality, and performance during the construction phase and beyond. Infrastructure monitoring systems are frequently used in the construction sector to monitor various things, including structural integrity, geotechnical conditions, environmental elements, and construction processes.
The Corrosion Monitoring segment would showcase a CAGR of 9.1% during (2023 - 2030). The method of corrosion monitoring involves evaluating and maintaining a look toward corrosion in components of equipment, buildings, process units, and facilities. Monitoring programs seek to discover specific situations to increase safety and lower replacement costs while extending the life & serviceability of assets. All forms of corrosion and materials are covered by corrosion monitoring.
The Hardware segment is leading the Global Infrastructure Monitoring Market by Component in 2022; thereby, achieving a market value of $5.4 billion by 2030. The hardware elements are necessary for data collection, communication, and monitoring. These hardware elements enable real-time data collecting, analysis, and decision-making in infrastructure monitoring. Operators may guarantee the monitored infrastructure's best performance, safety, and longevity by using dependable and cutting-edge hardware.
The wireless segment would register a CAGR of 10.9% during (2023 - 2030). Infrastructure monitoring systems found great use in wireless technology systems. These systems exchange data between different system components using wireless communication techniques. The utilization of wireless sensors, remote monitoring, real-time data transfer, and cost-effectiveness in comparison to wired systems have all been attributed to the growth.
The North America region dominated the Global Infrastructure Monitoring Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.3 billion by 2030. The Europe region is poised to grow at a CAGR of 9.9% during (2023 - 2030). Additionally, The Asia Pacific region would exhibit a CAGR of 10.9% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/infrastructure-monitoring-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Parker Hannifin Corporation, Siemens AG, General Electric Company, Honeywell International, Inc., Rockwell Automation, Inc., Yokogawa Electric Corporation, National Instruments Corporation, Acellent Technologies, Inc., Campbell Scientific, Inc., AVT Reliability Ltd (A.E.S. Engineering Limited).
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