According to the new market research report "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", 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 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 safer, and growing awareness about benefits of GTIM tools. Opportunities in APAC and GCC countries, and investments in oil & gas and major energy projects is creating ample growth opportunities in the market.
Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=221101423
APAC to witness the highest CAGR of the GTIM market in 2019.
APAC is the fastest-growing market for GTIM. The GTIM market in this region is expected to grow at the highest rate among all other regions due to rapid industrialization, modernization of infrastructure, and, increased spending by governments to boost the buildings & infrastructure. Also, this is expected to grow at a high rate mainly because of the growing adoption of geotechnical instrumentation and monitoring techniques for various projects in construction, energy & power, oil & gas, and mining verticals. A few of the key emerging trends in this region include growing demand for geotechnical instrumentation and monitoring in energy and power applications and increasing application of geotechnical instrumentation and monitoring in tunnels and bridges.
The GTIM market in Americas projected to hold the largest share 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.
Fugro (Netherlands), Keller Group plc. (UK), Nova Metrix LLC (US), Geocomp Corporation (US), GEOKON (US), Sisgeo S.r.l (Italy), COWI A/S (Denmark), RST Instruments Ltd. (Canada), James Fisher and Sons plc (UK), and Deep Excavation LLC (US)are a few major players in the GTIM market.
Key Market Players
Key players in the GTIM market include Fugro (Netherlands), Keller Group plc (UK), Nova Metrix LLC (US), Geocomp Corporation (US), GEOKON (US), Sisgeo S.r.l (Italy), COWI A/S (Denmark), RST Instruments Ltd. (Canada), James Fisher and Sons plc (UK), and Deep Excavation LLC (US).
Service segment of the GTIM market projected to grow at a higher CAGR during the forecast period.
The service segment is expected to continue to hold a larger share of the geotechnical instrumentation & monitoring market during the forecast period. Across the world, maximum companies in the GTIM market are dedicated to offering instrumentation and monitoring services, and the manufacturers of hardware and software solutions required for GTIM engineering are comparatively fewer. Therefore, the services segment is expected to continue to lead the GTIM market during the forecast period.
Among all structures, the tunnels and bridges segment projected to hold the largest share of the GTIM market during the forecast period.
In 2020, tunnels and bridges collectively held the largest size of the GTIM market, and a similar trend is expected to continue during the forecast period. The major factor contributing to the leading position of tunnels and bridges is the growing number of projects with respect to the construction of tunnels across the world. For instance, the Follo Line tunnel project in Norway, Europe, is likely to be completed by 2021, and it will connect the Norwegian capital of Oslo with its southern suburb of Ski.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment