Pune, May 11, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider's report, “the Geotechnical Instrumentation And Monitoring Market was assessed at USD 3.63 billion in 2022 and is anticipated to achieve USD 7.46 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.5% during the forecast period from 2023 to 2030”.
Market Report Scope
Geotechnical instrumentation and monitoring are crucial aspects of construction and civil engineering projects. It involves the use of specialized instruments to measure and monitor changes in the physical properties of soil, rocks, and other geologic formations. The data collected through these instruments help engineers and construction professionals to design and build structures that are safe and can withstand various environmental conditions.
Market Analysis
Several key factors are currently dominating the geotechnical instrumentation and monitoring market. One of the most significant is the increasing demand for infrastructure development. With urbanization and population growth continuing to rise around the world, there is a growing need for new buildings, transportation networks, and other forms of infrastructure. As a result, there is a corresponding increase in the demand for geotechnical instrumentation and monitoring, as these tools are essential for ensuring the safety and stability of these structures. Another important factor driving the growth of the market is the increasing use of technology in the field.
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Impact of Recession
A recession can have a negative impact on the geotechnical instrumentation and monitoring market, primarily due to a decline in demand for construction and infrastructure projects. However, the extent of the impact may vary depending on the region and market segment, and companies in this market can take measures to mitigate the effects of a recession by diversifying their services and exploring new markets.
Key Regional Development
The geotechnical instrumentation and monitoring market is set to experience significant growth in the coming years, and North America is poised to be a dominant player in this space. The market refers to the various sensors, devices, and software used to measure and monitor the stability of structures and infrastructure, such as buildings, bridges, tunnels, dams, and roads. This market is driven by the need to ensure the safety and longevity of these structures, as well as the increasing demand for infrastructure in rapidly developing economies. North America has a strong and mature infrastructure industry, with a large number of projects in the pipeline.
Key Takeaway from Geotechnical Instrumentation and Monitoring Market Study
- The market is expected to grow significantly over the next few years, with the bridges segment set to dominate the industry. This growth is driven by the increasing demand for infrastructure development, particularly in emerging economies.
- The hardware segment is likely to dominate the market due to a growing focus on safety and risk management. The use of sensors and monitoring systems can help identify potential risks and hazards before they become major issues, allowing companies to take proactive measures to mitigate these risks and prevent accidents or damage.
Recent Developments Related to Geotechnical Instrumentation and Monitoring Market
- Ericsson, a Swedish multinational networking and telecommunications company, has ramped up its production of 5G equipment to support the rapid deployment of 5G networks in India. The move is part of Ericsson's commitment to helping Indian telecom operators build a robust 5G ecosystem in the country.
- Renesas Electronics Corporation, a leading supplier of advanced semiconductor solutions, has announced a collaboration with Advanced Micro Devices (AMD) to showcase a full RF and digital front-end (DFE) design for 5G active antenna systems (AAS). The demonstration was carried out at the Mobile World Congress (MWC) 2021 in Barcelona, Spain.
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Geotechnical Instrumentation and Monitoring Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.63 Bn |
| Market Size by 2030 | US$ 7.46 Mn |
| CAGR | CAGR of 9.5% From 2023 to 2030 |
| Key Segments | • By Offering (Hardware, Software, Services) • By Structure (Bridges, Buildings, Dams, Tunnels, Utilities, Others) • By Networking Technology (Wireless, Wired) • By End User (Energy & Power, Buildings & Infrastructure, Oil & Gas, Mining) |
| Regional Analysis | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Deep Excavation LLC, Nova Metrix LLC, Geocomp Corporation, COWI A/S, GKM Consultants, James Fisher and Sons, Geokon Incorporated, Sisgeo SRL, Systel India and S.W. Cole. |
| Market Drivers | • Raising awareness of the advantages of instrumentation and monitoring tools. • Geotechnical instrumentation is being used to avoid structural failures. • Government restrictions for long-term constructions. |
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Geotechnical Instrumentation and Monitoring Segmentation, by offering
9. Geotechnical Instrumentation and Monitoring Segmentation, by structure
10. Geotechnical Instrumentation and Monitoring Segmentation, by networking technology
11. Geotechnical Instrumentation and Monitoring Segmentation, by end user
12. Regional Analysis
13.Company Profiles
14.Competitive Landscape
15. Competitive Landscape
16. Conclusion
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