New York, Aug. 22, 2023 (GLOBE NEWSWIRE) -- According to the research report “Global Infrastructure Monitoring Market” published by Consegic Business Intelligence, the market was sized at USD 9,173.92 million in 2022 and is expected to reach over USD 15,378.51 million by the year 2030, growing at a CAGR of 6.9%.
Infrastructure monitoring refers to the systematic process of observing and tracking the performance, availability, and health of an organization's IT infrastructure including servers, networks, databases, and other critical components. Additionally, the process enables administrators to collect and analyze data, generate real-time alerts, and gain insights into the infrastructure's operational status by employing various monitoring tools and technologies. The proactive approach allows for the early detection of issues, optimization of resource utilization, and timely resolution of problems, ensuring the stability and efficiency of the infrastructure to support smooth business operations.
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The increasing demand of infrastructure monitoring from various end-use industries including chemical, power generation, and oil and gas is the major factor driving the growth of the market. The advanced monitoring tools and equipment allow organizations to detect and identify issues, minimizing downtime and potential disruptions to business operations. For instance, in January 2023, Fuji Electric Co., Ltd. launched MICREX-VieW FOCUS, automation monitoring and control systems for industrial plants. The system is installed at numerous industrial plants particularly in Japan, including chemical and steel for monitoring the infrastructure of the plants, thus contributing remarkably in propelling the market growth.
Moreover, the emergence of cloud-based monitoring solutions is projected to create several future opportunities for the growth of the infrastructure monitoring market. Cloud-based monitoring solutions offer scalability, allowing organizations to monitor the vast IT infrastructure without the constraints of on-premises hardware. However, the high maintenance and operation cost of infrastructure monitoring solutions is hampering the market growth.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 15,378.51 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 6.9% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | 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 |
| 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 |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Infrastructure Monitoring Market Growth Drivers:
- 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.
Opportunities
- Emergence of cloud-based monitoring solutions is projected to create several future opportunities for the growth of the infrastructure monitoring market.
Global Infrastructure Monitoring Market Segmentation Details:
Based on Component, the hardware segment contributed the largest shares to the market growth in 2022 as majority of the organizations rely on legacy systems and on-premises hardware for the IT infrastructure. The systems require hardware-based monitoring solutions to effectively track and manage the performance, thus contributing significantly in driving the growth of the hardware segment. Additionally, hardware-based monitoring solutions are perceived as more reliable and robust, especially for critical infrastructure components. Various organizations prefer physical monitoring devices namely network probes and sensors, to ensure continuous monitoring even during network outages. Moreover, hardware-based monitoring solutions offer a higher degree of customization and control, hence contributing notably in spurring the growth of the hardware segment.
Based on Technology, the wireless segment offered substantial shares to the market in the year 2022 as wireless systems have lower maintenance costs compared to wired systems. Additionally, wireless infrastructure monitoring eliminates the need for periodic cable checks and reduces the risk of cable damage or failure, resulting in cost savings over time. Moreover, wireless monitoring provides real-time data transmission and facilitates remote monitoring capabilities, enabling organizations to monitor distant locations without physical presence. Furthermore, wireless infrastructure monitoring solutions consume less energy, reducing the environmental impact and thus becoming a more sustainable option as compared to wired infrastructure. In conclusion, the aforementioned factors are collectively responsible in bolstering the growth of the wireless infrastructure monitoring segment.
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Based on Application, vibration monitoring holds the largest market share in 2022 owing to the increased installation of vibration sensors to detect and analyze vibrations caused by external forces including traffic, wind, or seismic events. The continuous monitoring of vibrations enables engineers to identify potential structural issues, measure the impact of external loads, and ensure the safety and longevity of the infrastructure. Additionally, vibration monitoring is extensively employed in industrial settings to assess the health of machinery and equipment. Sensors are installed on rotating machinery namely motors, pumps, turbines, and compressors to detect abnormal vibrations that indicate misalignment, imbalance, wear, or other mechanical faults. Subsequently, the aforementioned factors are contributing notably in propelling the growth of the vibration monitoring segment.
Based on End-User, the civil infrastructure segment offered substantial shares to the global infrastructure monitoring market in the year 2022 as infrastructure monitoring is utilized to assess the health and structural integrity of bridges. Sensors are deployed to monitor parameters including vibrations, strain, deflection, and temperature. Continuous monitoring helps to detect signs of deterioration, settlement, and damage, enabling timely maintenance and preventing potential accidents. Additionally, infrastructure monitoring systems track parameters namely settlement, deformation, and water ingress. Early detection of potential issues allows authorities to take corrective actions to prevent tunnel failures and disruptions. Moreover, sensors are employed to monitor parameters including dam displacement, seepage, and water levels, allowing for timely interventions to prevent catastrophic dam failures. Subsequently, the aforementioned factors are collectively responsible for driving the growth of the civil infrastructure segment.
Based on Region, North America has been a major contributor to the growth of the infrastructure monitoring market. The growth is attributed to the large and diverse market with a wide range of industries including IT, telecommunications, energy, transportation, and construction. Industries have significant infrastructure monitoring needs, driving the demand for monitoring solutions. Additionally, the region has a substantial investment in infrastructure development and maintenance. The high investment creates a strong emphasis on ensuring the reliability, safety, and efficiency of critical infrastructure assets, leading to higher adoption of monitoring technologies. Moreover, the region has a robust IT and communication infrastructure that supports the implementation and integration of advanced monitoring systems. The availability of high-speed internet and connectivity enhances the feasibility of real-time monitoring and data analytics, thus contributing significantly in accelerating the market growth in the region.
Recent Developments
- In September 2022, Virtana introduced the Kubernetes strategy to offer actionable infrastructure insights for ideal performance, cost, and capacity of business applications.
Key Market Highlights
- Globally, the infrastructure monitoring market is divided based on the component into hardware, software, and service.
- In the context of technology, the market is separated into wired and wireless.
- The application segment is trifurcated into corrosion monitoring, erosion monitoring, crack detection, damage detection, multimodal sensing, drought monitoring, strain monitoring, thermal monitoring, vibration monitoring, and others.
- The end-user segment is classified into aerospace and defense, manufacturing, mining, power generation, civil infrastructure, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in infrastructure monitoring.
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List of Major Global Infrastructure Monitoring Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- 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
Global Infrastructure Monitoring Market Segmentation:
- By Component
- Hardware
- Software
- Service
- By Technology
- Wired
- Wireless
- By Application
- Corrosion Monitoring
- Erosion Monitoring
- Crack Detection
- Damage Detection
- Multimodal Sensing
- Drought Monitoring
- Strain Monitoring
- Thermal Monitoring
- Vibration Monitoring
- Others
- By End-User
- Aerospace and Defense
- Manufacturing
- Mining
- Power Generation
- Civil Infrastructure
- Others
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Key Questions Covered in the Infrastructure Monitoring Market Report
- What will be the potential market valuation for the infrastructure monitoring market by 2030?
- The market valuation for the infrastructure monitoring market is expected to be approximately USD 15,378.51 million by 2030 owing to the rising demand to provide real-time infrastructure insights to businesses for identifying potential issues and minimizing downtime.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the infrastructure monitoring market's growth in the coming years?
- Asia Pacific is anticipated to witness the fastest CAGR during the forecast period owing to the increasing investment by governments and private enterprises in transportation, energy, and construction projects, driving the demand for infrastructure monitoring solutions to ensure the safety and efficiency of the developments.
- What specific segmentation details are covered in the infrastructure monitoring market report, and how is the dominating segment impacting the market growth?
- The hardware component dominates the market as majority of the organizations rely on legacy systems and on-premises hardware for the IT infrastructure. The systems require hardware-based monitoring solutions to effectively track and manage the performance, thus contributing significantly in driving the growth of the hardware segment.
- What specific segmentation details are covered in the infrastructure monitoring market report, and how is the fastest segment anticipated to impact the market growth?
- The power generation segment is anticipated to witness the fastest CAGR as infrastructure monitoring sensors monitor equipment namely turbines, generators, and boilers to detect anomalies and predict maintenance needs. Continuous monitoring helps to optimize plant performance, reduce downtime, and enhance operational efficiency.
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