DUBLIN–(BUSINESS WIRE)–The “Geotechnical Instrumentation and Monitoring Market with Covid-19 Impact Analysis by Offering (Hardware & Software, and Services), Networking Technology (Wired, Wireless), Structure, Application, End User, and Geography – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The GTIM market is projected to reach USD 4.5 billion by 2025 from USD 2.9 billion in 2020; it is expected to grow at a CAGR of 9.2% from 2020 to 2025.
Major drivers for the growth of the market are a significant rise in infrastructure investments across various countries, use of geotechnical instrumentation to prevent failure of geotechnical structures and loss of lives, stringent government regulations to make structures more sustainable and safe, and growing awareness about benefits of GTIM tools. The major restraints for the growth of the market are high installation and monitoring cost.
The wired networking technology segment projected to hold a larger share of the GTIM market during the forecast period.
Wired technology is the most commonly used networking technology in geotechnical instrumentation and monitoring applications. Wired technology has major advantages, such as reduces the attenuation of data, provides a high speed of operation, and offers high bandwidth. This technology used to serve a geotechnical purpose is primarily used to measure pore water pressure, slope and rock stability, and underground pressure. These applications are useful to efficiently monitor the structure and maintain their safety.
Among all end-users, the building & infrastructure segment to grow at the highest CAGR between 2020 and 2025.
The buildings and infrastructure segment is expected to continue to dominate the GTIM market, by end-user, during the forecast period. The major factor contributing to the growth of this market is the growing awareness about geotechnical instrumentation and monitoring techniques, along with their benefits, across the world. Benefits such as real-time monitoring and accurate data are supporting the GTIM market to grow. The primary reason for the growth of the market for the buildings and infrastructure segment is that this sector includes a few of the major critical structures, such as dams, tunnels, bridges, and buildings that need to be closely monitored regularly. Also, this segment was the early adopter of the geotechnical instrumentation and monitoring techniques; therefore, it is likely to continue to lead the GTIM market in the coming years.
Americas projected to hold the largest share of the GTIM market in 2025.
The GTIM market in the Americas is expected to grow at a significant rate owing to an increase in investments in infrastructural projects in the region. For instance, from 2009 to 2017, the US federal government and local government spent about USD 440 billion on infrastructure. In addition, countries such as the US and Canada are increasingly adopting geotechnical instrumentation and monitoring tools to ensure the safety and security of structures and their people.
Additionally, in the Americas, both government and private sectors are aggressively involved in large-scale infrastructure projects. For example, the Nevada Department of Transportation (NDOT) has constructed a 4-lane concrete interstate freeway between Silverline Road and Foothill Drive in Henderson. The government spent USD 83 million in this project. This is one of the many projects in the region. Such new infrastructure projects would upsurge the demand for geotechnical instrumentation and monitoring tools. Therefore, the rapid development of new infrastructures in the Americas is one of the major driving factors for the market growth in this region.
Significant Rise in Infrastructure Investments Across Various Countries
Use of Geotechnical Instrumentation to Prevent Failure of Geotechnical Structures and Loss of Lives
Stringent Government Regulations to Make Structures More Sustainable and Safe
Growing Awareness About Benefits of GTIM Tools
High Installation and Monitoring Costs
Opportunities in Apac and Gcc Countries
Investments in Oil & Gas and Major Energy Projects
Lack of Skilled Labor/Operators for Installation and Calibration of Geotechnical Instruments
Technical Challenges and Operational Factors
Generation of Inaccurate Results Owing to Errors in Readings
Negative Impact of Covid-19 on Construction Engineering
Keller Group Plc.
Nova Metrix Llc
James Fisher and Sons Plc
Deep Excavation Llc.
Rst Instruments Ltd.
Encardio-Rite Electronics Pvt. Ltd.
S.W.Cole Engineering, Inc.
Eustis Engineering Llc.
Dst Consulting Engineers Inc.
Smart Structures (Radise International)
Progressive Machine Tools
For more information about this report visit https://www.researchandmarkets.com/r/1qv44c