Summary
Major players in the infrastructure monitoring market are National Instruments Corporation, Campbell Scientific Inc., Pure Technologies, Structural Monitoring Systems PLC., Acellent Technologies Inc., Geokon Inc., Sisgeo Srl, AVT Reliability Ltd., Bridge Diagnostics Inc., Geomotion (Singapore) Pte. Ltd., FEAC Engineering, Hottinger Brüel & Kjaer GmbH, Infibra Technologies Srl., Geocomp Corporation, Nova Metrix LLC, Sixense Group, Kinemetrics Inc., RST Instruments Ltd., ITRS Group, Netmagic Solutions, CapaSystems A/S, Zenoss Inc., Datadog, MISTRAS Group Inc. and Set Point Technologies Ltd.
The global infrastructure monitoring market is expected to grow from $4.85 billion in 2022 to $5.39 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity pricesand supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The infrastructure monitoring market is expected to grow to $8.46 billion in 2027 at a CAGR of 11.9%.
The infrastructure monitoring market consists of revenues earned by entities by providing various services such as the collection of data, analysis of data, hardware monitoring, monitoring sensors, network monitoringand software monitoring.The market value includes the value of related goods sold by the service provider or included within the service offering.
The infrastructure monitoring market also includes sales of memory chips, processorsand CPUs, which are used in providing infrastructure monitoring services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributorsand retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Infrastructure monitoring is the process of gathering and evaluating data from IT systems, processesand infrastructure to enhance business outcomes and provide value for the entire organization.
North America was the largest region in the infrastructure monitoring market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of infrastructure monitoring are software, hardwareand services.Software is a set of instructions, data, or programs, used in infrastructure monitoring to collect infrastructure metrics from hosts and sends the data to a monitoring platform for analysis and visualization.
Wired and wireless technologies are involved in monitoring for various applications such as corrosion monitoring, crack detection, damage detection, hotspot monitoring, impact monitoring, multimodal sensing, state sensing, strain monitoring, structural health monitoringand non-destructive testing by mining, aerospaceand defense, civil infrastructure, energyand other end-user industries.
The growing demand for public infrastructure is expected to propel the growth of the infrastructure monitoring market going forward.Public infrastructure refers to infrastructure systems, buildingsand facilities that are created, ownedand maintained by the government and are accessible to the general public.
Infrastructure monitoring is used in public infrastructure for inspection and maintenance of infrastructure, monitoring of the environment, emergency rescueand others to prevent accidents and major losses if accidents take place, where it uses real-time data collection, storageand analysis to enhance the safety of the structures. For instance, in June 2022, according to the Department of Transport’s report, a UK-based government department for transportation, the UK government invests over £160 million ($192.7 million) to level up infrastructure to support local communities and four projects across England to reduce congestion and generate £659.3 million ($794.1 million) in economic benefits. Furthermore, in August 2022, the U.S Department of Transportation, a US-based executive department for transportation, announced an investment of more than $2.2 billion for modernized roads, bridges, transit, rail, portsand intermodal transportation under Rebuilding American Infrastructure with Sustainability and Equity (RAISE) program to help urban and rural communities. Therefore, the growing demand for public infrastructure is driving the growth of the infrastructure monitoring market.
Product innovations are a key trend gaining popularity in the infrastructure monitoring market.Major companies operating in the infrastructure monitoring market are introducing innovative products to sustain their position in the market.
For instance, in February 2022, New Relic, a US-based software company, introduced New Relic One platform to proactively identify and resolve issues in organizations’ public, privateand hybrid cloud infrastructure.New Relic One platform allows engineers to analyze all relevant telemetry such as logs, events, alerts, networksand others in context, visualize blast radius with topology mapsand perform historical analysis to understand cascading impacts.
It also enables engineers to quickly isolate bottlenecks by filtering and sorting based on golden signal conditions.
In November 2020, SOCOTEC Group, a France-based construction engineering company acquired Cementys for an undisclosed amount.Through this acquisition, SOCOTEC Group aims to reinforce its position in the monitoring, instrumentation, inspectionand infrastructure diagnostic market.
Cementys is a France-based company operating in infrastructure monitoring.
The countries covered in the infrastructure monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UKand USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The infrastructure monitoring market research report is one of a series of new reports that provides infrastructure monitoring market statistics, including infrastructure monitoring industry global market size, regional shares, competitors with an infrastructure monitoring market share, detailed infrastructure monitoring market segments, market trendsand opportunitiesand any further data you may need to thrive in the infrastructure monitoring industry. This infrastructure monitoring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
