The global infrastructure monitoring market is currently experiencing significant growth, largely driven by the increasing adoption of cutting-edge sensor technologies and a decline in sensor costs. The market’s expansion is further propelled by the rising demand for preventive maintenance and higher capital expenditures aimed at ensuring optimal maintenance of critical infrastructure across various industries. Key drivers behind the industry’s momentum include the growing preference for predictive maintenance, which effectively reduces life cycle maintenance costs, and the extensive use of MEMS inertial sensors for predictive condition monitoring of structures, manufacturing systems, and vehicles. Additionally, the growth of the Internet of Things (IoT) and sophisticated analytics continues to enhance the functionality of infrastructure monitoring systems.
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Collaboration in the Aerospace and Defense Sector
Notably, in April 2021, several South African aerospace and defense businesses collaborated as part of the Aerospace and Defense Masterplan. The alliance’s primary objective is to double the local production of specific items by the end of 2024 compared to baseline levels. Key participants in this strategic alliance include the Council for Scientific and Industrial Research, GEW, Hensoldt Optronics, African NDT Centre, Damen Shipyards Cape Town, and Paramount Group (CSIR).
Ground-Penetrating Radar (GPR) Gaining Significance
Ground-penetrating radar (GPR) is emerging as a crucial technology due to its cost-effectiveness and versatile applications. It is increasingly being used to inspect the condition of bridges and tunnels, investigate roads, and ensure proper compaction of road asphalt. A notable example of GPR’s effectiveness is its successful identification of large voids in the Cumberland Gap Tunnel, leading to significant cost savings in repair operations.
Impact of COVID-19 on the Infrastructure Monitoring Market
The COVID-19 pandemic presented temporary operational challenges for businesses in the infrastructure monitoring market, including restricted site access and disruptions in the supply chain. Despite these hurdles, the market is expected to rebound strongly, driven by diverse applications across industries such as aerospace & defense, energy, mining, and civil infrastructure, which continue to drive demand for infrastructure monitoring technology.
Lucrative Opportunities in the Energy Sector
The energy sector is experiencing rapid expansion, creating a strong demand for security, routine data monitoring, and knowledge of infrastructure health. Notably, in the Asia-Pacific region, nuclear power generation is witnessing significant growth, leading to an increased need for infrastructure monitoring in power plants. Moreover, infrastructure monitoring systems are proving to be invaluable for remote maintenance in onshore and offshore sectors, including wind turbine centers transmitting design parameter information.
The study on the global infrastructure monitoring market encompasses the following key elements:
Infrastructure Monitoring Market Analysis: The study provides a comprehensive analysis of the market based on product/technology/grade, application/end-user, and region.
Executive Summary: This section includes an opportunity analysis and highlights key trends in the infrastructure monitoring market.
Historical Market Size: The study presents historical market size and estimates in terms of value for the period 2019 to 2022.
Market Value Forecast: The market value is projected at the regional and country level from 2023 to 2030.
Market Dynamics and Economic Overview: The report covers market dynamics and offers an economic overview of the infrastructure monitoring industry.
Growth Rates and Forecast: It includes growth rates and forecast figures for the infrastructure monitoring market from 2023 to 2030.
Competitive Intelligence: The study provides competitive intelligence, including financials, key developments, and portfolio analysis of leading companies in the market.
Price Trends Analysis: Regional and product/grade/application/end-user price trends are analyzed to understand market fluctuations.
Value Chain and Five Forces Analysis: The report includes a value chain analysis and evaluates the industry’s competitive forces.
Regional Market Analysis: It offers market size and trend analysis for different regions, sub-regions, and countries.
Company Market Share and Profiles: The study presents an analysis of company market shares and profiles of key players operating in the infrastructure monitoring market.
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