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Infrastructure monitoring is a monitoring system. Infrastructure monitoring is designed for managing infrastructure by inspecting relative data and information about the infrastructure. Infrastructure monitoring helps in providing security, health of the infrastructure by collecting data at regular intervals to give alert for network intrusion, unplanned downtime, and others. The properties of infrastructure monitoring, such as early detection of problem, performance monitoring, real-time data, and others, make it reliable for the market.
The major players for infrastructure monitoring have been focusing on enhancing more technological advancement in the field, which provide more demand for infrastructure monitoring in the market. The infrastructure monitoring finds applications in diverse area such as aerospace & defense, energy, mining, civil infrastructure, and others.
The global infrastructure monitoring market is segmented on the basis of technology, component, end use, and region. Based on technology, the market is divided into Wireless and Wired. In terms of component, the market is categorized into Software, Hardware, and Services. On the basis of end use, the market is divided into Aerospace & Defense, Energy, Mining, Civil Infrastructure, and Others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
COVID-19 Scenario Analysis:
The outbreak of the COVID-19 pandemic has severely affected the business of almost all industries. While the COVID-19 pandemic crisis unfolds, regulatory bodies all over the world are in the compulsion to impose strict lockdown and travel bans. Moreover, this has drastically affected the growth of the infrastructure monitoring market.
Due to the COVID-19 pandemic, the supply chain systems were disrupted as a number of fundamental equipment and materials are profoundly dependent on imports from other countries. Furthermore, the strict instruction of the governing bodies to follow social distancing norms forced the industries to work with minimal workforce, which led to the decrease in production rate of industries. Thus, all these factors negatively contributed to the growth of the infrastructure monitoring market.
However, after the COVID-19 pandemic, the diversified and innovative applications of infrastructure monitoring, such as aerospace & defense, energy, mining, civil infrastructure, and others, will foster the growth of the infrastructure monitoring market size. As government of different provinces have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall infrastructure monitoring market opportunity globally.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The top impacting factors for the infrastructure monitoring market are the emerging demand for infrastructure monitoring in the telecommunication, IT and energy sector, and infrastructure monitoring system to help in understanding the condition or health of infrastructure by providing data and information related to the infrastructure.
In aerospace & defense sector, infrastructure monitoring is used to provide security and data at regular intervals in extremely critical non-energy sector. For instances, according to the Stockholm International Peace Research
Institute (SIPRI), China and India modernized their nuclear arsenals last year. The Swedish think tank pointed out that China is undergoing major modernization of its nuclear arsenal. By 2020, China, Pakistan, and India will have 320, 160, and 150 nuclear warheads, and their existence must be monitored so as not to fall into the wrong hands. Hence, the need for the infrastructure monitoring in the aerospace & defense sector will drive the demand for infrastructure monitoring in the market.
Rapid rise in urbanization and advanced technology, rise in smart cities, and renewing of IT and telecommunication structure provide the need for automated monitoring and scrutinizing system due to high labor cost in various countries, including China. Therefore, to drive automated monitoring & scrutinizing system latest technology such as sensor system, cloud, and IOT are employed. Thus, rise in advanced technology and urbanization provides platform to penetrate infrastructure monitoring in the market.
However, high installation cost and lack of skilled technician all these factors may restraint the market growth of the infrastructure monitoring system.
The Infrastructure Monitoring Market Trends Are as Follows:
Surge in Usage in Energy Sector:
The rapid expansion of the end-user industry provide need for security, regular data monitoring, and information about condition or health of the infrastructure for which infrastructure monitoring is deployed. For instances, according to the World Nuclear Association, the Asia-Pacific region is experiencing significant power growth. There are about 135 nuclear reactors in operation in the region and about 35 under construction, with this China’s nuclear power generation is expected to continue to grow rapidly. Therefore, these energy-saving demands are expected to continue and nuclear power plants will increase. This, in turn, will create a market for infrastructure monitoring.
Furthermore, the remote maintenance advantages provided by the infrastructure monitoring system are extremely beneficial to the onshore and offshore sector, such as increase in the use of center data modules in wind turbines to transmit data about design conditions of the wind turbine. Therefore, the need for infrastructure monitoring in energy sector provide demands for infrastructure monitoring in the market
Rapid Rise in Adoption of Urbanization and Advance Technology:
The rising number of smart city projects requires automated monitoring and inspection system for their building or infrastructure due to the high-cost labor in country such as China. This is fulfilled by the implementation of advance technology such as IOT and sensor system in infrastructure monitoring system. The integration of advanced technology with infrastructure monitoring enables the continuous collection and analysis of building monitoring data for preventive maintenance. For instances, India’s $35.7 billion smart city plan consists of 2,301 projects in various states. As part of the smart city mission, five new smart cities for fiscal year have been announced. Therefore, development of smart infrastructure with technological advancement provides new possibilities for infrastructure monitoring systems.
Key Benefits of the Report:
Questions Answered in the Infrastructure Monitoring Market Research Report:
Key Market Segments
Key Market Players