Aug 29, 2023

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 requirement of Damage Detection is growing rapidly as it plays a key role in Infrastructure monitoring. Hence, the damage detection segment is expected to acquire approximately 1/5th share of the market by 2030.

New York, Aug. 30, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Global Infrastructure Monitoring Market Size, Share & Industry Trends Analysis Report By Vertical, By Application, By Component, By Technology, By Regional Outlook and Forecast, 2023 - 2030" - The market is seeing a sizable opportunity for damage detection applications due to the increased focus on establishing cutting-edge sensor technologies and integrating machine learning and artificial intelligence. These sensors will have greater sensitivity, better precision, and more durability, enabling more accurate & dependable damage detection. For instance, adding intelligent components to sensors, like carbon nanotubes or self-healing polymers, can improve their functionality and enable self-monitoring.The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. In May, 2023, Parker Hannifin Corporation came into partnership with the U.S. Army to provide upgradation solutions for UH-60 Blackhawk’s flight control actuation. In July, 2021, AVT Reliability Ltd. partnered with Teledyne FLIR to provide solutions for thermal imaging and enable AVT to provide its customers with solutions for asset condition monitoring through thermal imaging systems.Based on the Analysis presented in the KBV Cardinal matrix; Siemens AG and Honeywell International, Inc. are the forerunners in the Market. In April, 2023, Siemens AG signed an agreement with Leonardo to develop solutions for Industrial infrastructure security and enable their Italian customers with solutions for secure digital transformation. Companies such as Parker Hannifin Corporation, Yokogawa Electric Corporation, Rockwell Automation, Inc. are some of the key innovators in the Market.Market Growth FactorsGrowing Urbanization and Use of Cutting-Edge TechnologyThe expanding number of smart city projects demand automated monitoring and inspection systems for their infrastructure or buildings due to the high labor cost in developing countries. Modern technology, such as IoT and sensor systems, is incorporated into infrastructure monitoring systems to accomplish this information. Modern technology and infrastructure monitoring work together to enable continuous collection and analysis of building monitoring data for preventative maintenance. This market is expected to develop as improved technologies gain prominence.Growing Application in Energy SectorDue to the rising need for techniques that increase energy efficiency, sustainability, and cost-effectiveness, the energy segment is predicted to gain substantial popularity in the market. Additionally, the expansion of infrastructure monitoring in the energy industry has a bright future due to the increasing significance of timely and predictive maintenance for energy sector assets. In addition, both onshore and offshore systems in this business can greatly benefit from the remote maintenance advantages of structural health monitoring systems.Market Restraining FactorsMonitoring The Vast Amounts of Data is ChallengingThe expanding number of devices and networks that need to be monitored is the most major problem with infrastructure monitoring. The infrastructure of the organization expands along with it. It can be difficult to keep track of the many hardware and software that make up an organization’s IT ecosystem. However, monitoring each of them at the top make’s things even more difficult. The market would drop due to the difficulty in maintaining comprehensive monitoring of all the information due to the excessive volume of data.Vertical OutlookOn the basis of vertical, the market is fragmented into oil & gas, manufacturing & automotive, aerospace & defense, construction, and power generation. The manufacturing & automotive segment covered a considerable revenue share in the market in 2022. Manufacturers know the value of integrating monitoring systems to optimize production infrastructure as the emphasis on high operational efficiency, asset management, and safety rises. Manufacturers can proactively identify and resolve problems with equipment performance, pipeline integrity, and the general condition of the infrastructure by implementing the systems.Application OutlookBy application, the market is categorized into corrosion monitoring, crack detection, damage detection, vibration monitoring, thermal monitoring, multimodal sensing, strain monitoring, and others. In 2022, the vibration monitoring segment registered the highest revenue share in the market. Vibration monitoring enables the evaluation of structural dynamics, the identification of potential stability problems, and the assessment of the effect of vibrations on the overall infrastructure’s performance. To assure the structural health & integrity of the infrastructure, it is widely used in various industries, including construction and other industrial facilities.Component OutlookOn the basis of component, the market is segmented into hardware, software, and services. The services segment acquired a substantial revenue share in the market in 2022. In the process of monitoring infrastructure, the services component is crucial. The services cover a wide range of tasks that aid in the established usage and maintenance of monitoring systems. Service specialists guarantee the system is configured, calibrated, and correctly integrated for accurate data collection. The operators can benefit from infrastructure monitoring through these services for improved asset management, safety, and efficiency.Technology OutlookBased on technology, the market is classified into wired, and wireless. In 2022, the wired segment garnered a significant revenue share in the market. Since they use actual cables and wired connections to transport data between different monitoring system components, wired systems play a significant role in the market. Wired systems offer a reliable and steady method of data transmission and communication. It is most suitable for dependable and ongoing monitoring applications, such as natural gas pipelines and vital equipment.Regional OutlookRegion wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the largest revenue share. In North America, manufacturers from various industries have realized how important it is to maintain the infrastructure’s integrity and effective operation. Solutions that enhance safety, improve maintenance procedures, and boost overall operational performance have become an increasingly greater need. Due to a greater cluster of service providers offering monitoring tools and solutions for small & large corporate businesses, North America is expected to contribute significant advances across the globe.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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)Recent Strategies Deployed in Infrastructure Monitoring MarketProduct Launches and Product Expansions:Jun-2023: Parker Hannifin Corporation entered into a partnership with Forsee Power, a smart battery system specialist, to develop solutions for electric construction vehicles. The partnership would enable solutions that would reduce noise, emissions, and vibrations of the construction machinery.May-2023: Parker Hannifin Corporation came into partnership with the U.S. Army to provide upgradation solutions for UH-60 Blackhawk’s flight control actuation. The partnership would allow Parker Hannifin to develop solutions for risk minimization and repairs in fleet maintenance operations.Apr-2023: Siemens AG signed an agreement with Leonardo, an Italian defence specialist, to develop solutions for Industrial infrastructure security. The partnership enables the two companies to provide their Italian customers with solutions for secure digital transformation.Oct-2022: Siemens AG partnered with Eplan, a software solutions provider, to provide software-based infrastructure solutions. The combined expertise would enable the customers to increase operational efficiency in construction applications.Feb-2022: Parker Hannifin Corporation signed a partnership with Cummins Inc., a power generation solutions provider, to integrate its IoT platform with Cummin’s connected engine solutions. The partnership would enable simplified machine status by providing solutions for the whole diagnostic view of machines.Jul-2021: AVT Reliability Ltd. partnered with Teledyne FLIR, a thermal imaging camera manufacturer, to provide solutions for thermal imaging. The partnership would enable AVT to provide its customers with solutions for asset condition monitoring through thermal imaging systems.Product Launches and Product Expansions:Feb-2023: Yokogawa Electric Corporation released reinforcement learning service for OpreX Realtime OS-based Machine Controllers. The service leverages Factorial Kernel Dynamic Policy Programming (FKDPP) and features short control cycles. Furthermore, the service has support for the e-RT3 edge controller.Sep-2022: Honeywell International, Inc. released VESDA Air, an active smoke detection solution. The VESDA Air features an IAQ sensor for VOC detection and has applications in healthcare facilities, manufacturing, schools, etc.Sep-2022: Yokogawa Electric Corporation announced the launch of OpreX Magnetic Flowmeter CA Series, a conductive fluid flow measurement system. The OpreX Magnetic Flowmeter CA Series features compatibility with HART communications protocol, support for measurement tubes with sizes ranging from 15mm to 200mm, and pipe analysis functions.Apr-2022: Parker Hannifin Corporation introduced PAC120 Controller, a feedback-based hydraulic motion controller. The controller features an EtherCAT interface and SD card slots for data logging purposes. Additionally, it also has I/O expansion modules for more configurations.Acquisition and Mergers:Feb-2023: Yokogawa Electric Corporation took over Fluence Analytics, Inc., a biopharmaceutical analytics solutions provider based in the US. The acquisition would provide Yokogawa would Fluence Analytics’ portfolio that would facilitate its customers to automate polymerization processes.Aug-2022: Siemens AG acquired Brightly Software, an asset management solutions provider. The acquisition strengthens Siemens’ SaaS business portfolio and aids it in increasing its market share.May-2022: Yokogawa Electric Corporation acquired Dublix Technology ApS, a biomass power specialist based in Denmark. The acquisition enhances Yokogawa’s monitoring, control, and maintenance offerings.Dec-2021: Honeywell International, Inc. took over US Digital Designs, Inc., a fire alert system designer based in the United States. This acquisition would enable Honeywell to deliver solutions for short alert time.Dec-2021: Yokogawa Electric Corporation completed the acquisition of PXiSE Energy Solutions LLC., a stable power solutions provider based in the US. The acquisition enhances Yokogawa’s capabilities in control and monitoring of power generation facilities.Geographical Expansions:Sep-2022: Honeywell International, Inc. established a Global Solutions Command and Control Centre in Gurugram, India. The centre would serve as the remote monitoring solutions hub for Indian oil and gas companies. The centre would allow Honeywell to serve its Indian customers in a better way.Scope of the StudyMarket Segments covered in the Report:By Vertical• Construction• Manufacturing & Automotive• Oil & Gas• Aerospace & Defense• Power Generation & OthersBy Application• Vibration Monitoring• Damage Detection• Corrosion Monitoring• Crack Detection• Thermal Monitoring• Multimodal Sensing• Strain Monitoring• OthersBy Component• Hardware• Software• ServicesBy Technology• Wireless• WiredBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• 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)Unique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________