The report "Geotechnical Instrumentation and Monitoring Market
by Offering (Hardware & Software, Services), Technology (Wired,
Wireless), Structure (Tunnels & Bridges, Buildings & Utilities,
Dams), End user, and Region - Global Forecast to 2022" , is estimated
to be valued at USD 4.64 Billion by 2022, and is projected to grow at a
CAGR of 11.37% between 2017 and 2022. The growth of the geotechnical
instrumentation and monitoring market can be attributed to the
awareness about the benefits of geotechnical instrumentation and
monitoring and stringent government regulations for its implementation.
The rising number of infrastructure projects across the globe is
driving the market growth, as geotechnical instrumentation and
monitoring is planned to be implemented in almost every critical
structure to adhere to safety regulations.
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To estimate the size of geotechnical instrumentation
and monitoring market, the top players and their share in this market
have been considered. This research study involves the extensive use of
secondary sources, such as the American Society of Civil Engineers
(ASCE), the British Geotechnical Association (BGA), the IEEE Standards
Association, the Australian Geomechanics Society, the International
Journal of Geotechnical Engineering, a study of annual and financial
reports of top players, presentations, press releases, journals, paid
databases, and interviews with industry experts.
“The service segment is expected to lead the geotechnical instrumentation and monitoring market during the forecast period”
Among offerings, the service segment is projected to
grow at the highest rate between 2017 and 2022. This is primarily due to
the presence of a large number of companies offering geotechnical
instrumentation and monitoring solutions and equipment for geotechnical
projects. In addition, geotechnical instruments, once purchased, can be
used in multiple projects or offered on rent, due to which the service
segment has a larger market, and is expected to grow at the highest rate
during the forecast period.
“The tunnels & bridges segment of the
geotechnical instrumentation and monitoring market is expected to grow
at the highest rate between 2017 and 2022”
Among structures, the tunnels & bridges segment
is estimated to be the fastest-growing segment in the geotechnical
instrumentation and monitoring market during the forecast period.
Tunnels and bridges enable people to travel from one place to other,
hence, the construction of these structures has always been in demand
and is expected to continue in future as well. In addition, the upcoming
projects of metro lines and subways in different parts of the world act
as a major driving factor for the market.
“The Americas is estimated to hold the largest share of the geotechnical instrumentation and monitoring market by 2022”
The Americas is estimated to have the largest share
of the geotechnical instrumentation and monitoring market by 2022. The
major reason for this large market share is the high number of projects
that are implementing geotechnical instrumentation and monitoring
solutions in the region. The Americas has always been the leader in
implementing this technology and is very particular about the safety of
its structures.
Major players in the geotechnical instrumentation and
monitoring market are Fugro N.V. (Netherlands), Keller Group plc
(U.K.), Geokon, Incorporated (U.S.), Durham Geo Slope Indicator, Inc.
(U.S.), Nova Metrix LLC (U.S.), Geocomp Corporation (U.S.), and Sisgeo
Srl (Italy).
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