The infrastructure monitoring market has witnessed rapid growth, rising from $5.41 billion in 2023 to $6.04 billion in 2024, with a CAGR of 11.6%. This growth is driven by government investments and the need for urban resilience. By 2028, the market is expected to reach $9.66 billion, reflecting a CAGR of 12.4%. Key trends include the development of smart cities and increased collaboration between public and private sectors.
Major Driver In The Infrastructure Monitoring Market
The anticipated surge in demand for public infrastructure is set to drive the growth of the infrastructure monitoring market. Public infrastructure, comprising systems, buildings, and facilities owned and maintained by the government for public use, relies on infrastructure monitoring for inspection, maintenance, environmental monitoring, and emergency response. This ensures the prevention of accidents and minimizes potential losses by employing real-time data collection, storage, and analysis to enhance structural safety. Notably, in June 2022, the UK Department of Transport reported a government investment of over £160 million ($192.7 million) to bolster infrastructure, supporting local communities and initiating projects across England that are expected to yield £659.3 million ($794.1 million) in economic benefits. Additionally, in August 2022, the US Department of Transportation announced an investment exceeding $2.2 billion under the Rebuilding American Infrastructure with Sustainability and Equity (RAISE) program. This significant investment is aimed at modernizing roads, bridges, transit, rail, ports, and intermodal transportation, reinforcing the growth of the infrastructure monitoring market, with market sizes estimated at X in 2023, Y in 2024, and Z in 2028.
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Infrastructure Monitoring Market Competitive Landscape
Broadcom Inc., Splunk Inc., Datadog Inc., National Instruments Corporation, MISTRAS Group Inc., AppDynamics Inc., ScienceLogic Inc., Pure Technologies Limited, Campbell Scientific Inc., RST Instruments Ltd., Kinemetrics Inc., Set Point Technologies Ltd., Bridge Diagnostics Inc., Netmagic Solutions Private Limited, CapaSystems A/S, Geocomp Corporation, Hottinger Brüel & Kjaer GmbH, Geokon Incorporated, Zenoss Inc., Sixense Group Inc., Nagios Enterprises LLC, Acellent Technologies Inc., Sisgeo Srl, Geomotion (Singapore) Pte. Ltd., FEAC Engineering Srl, Infibra Technologies Srl., Nova Metrix LLC, Structural Monitoring Systems PLC., AVT Reliability Ltd., ITRS Group Ltd.
Key Infrastructure Monitoring Market Trend
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, private and hybrid cloud infrastructure. New Relic One platform allows engineers to analyze all relevant telemetry such as logs, events, alerts, network sand others in context, visualize blast radius with topology maps and perform historical analysis to understand cascading impacts. It also enables engineers to quickly isolate bottlenecks by filtering and sorting based on golden signal conditions.
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Infrastructure Monitoring Market Segmentation
The infrastructure monitoring market covered in this report is segmented –
1) By Component: Software, Hardware, Services
2) By Technology: Wired, Wireless
3) By Application: Corrosion Monitoring, Crack Detection, Damage Detection, Hotspot Monitoring, Impact Monitoring, Multimodal Sensing, State Sensing, Strain Monitoring, Structural Health Monitoring And Non-Destructive Testing
4) By End-User Industry: Mining, Aerospace And Defense, Civil Infrastructure, Energy, Other End-User Industries
By Geography:The regions covered in the infrastructure monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the infrastructure monitoring market in 2023.
The Infrastructure Monitoring Global Market Report 2024 furnishes information about the global infrastructure monitoring market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
