Global Infrastructure Monitoring Market growing at a CAGR of 6.9% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : Aug 2023 | Type : Press Release
Key Market Overview
The infrastructure monitoring market is poised for strong expansion and is expected to reach USD 15,378.51 million by 2030. The market was sized at USD 9,173.92 million in 2022 and is projected to grow at a compound annual growth rate of 6.9% during the period 2023-2030.
The report highlights the increasing adoption of infrastructure monitoring tools owing to the rising demand to provide real-time infrastructure insights to businesses for identifying potential issues and minimizing downtime. Consegic Business Intelligence provides an inclusive research report on the infrastructure monitoring market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Infrastructure Monitoring Market By Overview
Consegic Business Intelligence provided an inclusive research report on the infrastructure monitoring market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. Services are predicted to witness the fastest CAGR in the infrastructure monitoring market during the forecast period. The growth of the market is attributed to the emergence of advanced managed services that offer improved infrastructure monitoring and proactive issue resolution, driving the demand for managed services. Additionally, organizations are seeking consulting and professional services to assess the existing monitoring strategies, identify gaps, and implement best practices. Moreover, the emergence of cloud-based monitoring services offers scalability, accessibility, and the ability to monitor distributed cloud resources is further contributing to the market growth.
Get Free SampleMarket Dynamics
Driver:
- Expanding IT sector is driving the growth of the infrastructure monitoring market for smooth and efficient functioning of various applications and services.
- Rising demand for real-time infrastructure insights is driving the growth of the market.
- Increasing reliance on nuclear power plants for energy generation is bolstering the growth of infrastructure monitoring market.
Restraints:
- High manufacturing and maintenance cost associated with infrastructure monitoring is hindering the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Component | Hardware, Software, and Service |
| By Technology | Wired and Wireless |
| By Application | Corrosion Monitoring, Erosion Monitoring, Crack Detection, Damage Detection, Multimodal Sensing, Drought Monitoring, Strain Monitoring, Thermal Monitoring, Vibration Monitoring, and Others |
| By End-User | Aerospace and Defense, Manufacturing, Mining, Power Generation, Civil Infrastructure, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The landscape for Infrastructure Monitoring market is highly competitive with major players including Schaeffler AG, ABB, Acellent Technologies, Inc., and AVT Reliability Ltd. that have a strong market position in current market circumstances. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the infrastructure monitoring market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- ABB
- Acellent Technologies, Inc.
- AVT Reliability Ltd.
- Bridge Diagnostics, Inc. (BDI)
- Dynatrace LLC
- Campbell Scientific, Inc.
- Digitex Systems
- Emerson Electric
- General Electric
- Honeywell
- National Instruments
- Parker Hannifin
- Rockwell Automation
- Siemens AG
- Yokogawa Electric Corporation
- Schaeffler AG
