According to a research report "Geotechnical Instrumentation and Monitoring Market with COVID-19 Impact Analysis by Offering, Networking Technology (Wired, Wireless), Structure (Bridges & Tunnels, Buildings & Utilities, Dams, Others), End User and Geography - Global Forecast to 2026" published by MarketsandMarkets, the global geotechnical instrumentation and monitoring market is expected to reach USD 5.1 billion by 2026 from USD 3.2 billion in 2021, at a CAGR of 9.6% during the 2021-2026 period.
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Opportunity: Growing opportunities in APAC and GCC countries
The dense population in APAC countries, such as India and China, has paved the way for rapid urbanization. There has been a significant rise in the development of geotechnical structures such as dams, bridges, and tunnels owing to growing infrastructure investments. An increasing number of geotechnical projects has led to the increased adoption of geotechnical instrumentation and monitoring in several developing countries, such as India and China. APAC countries are densely populated, and governments in these countries focus on infrastructural developments for their growth and sustainability. Market players from the Americas and Europe are actively meeting the geotechnical instrumentation and monitoring requirements of various projects in APAC.
APAC countries, such as China, Japan, and Singapore, and GCC countries, such as the UAE, Saudi Arabia, and Qatar, present a huge potential for the geotechnical instrumentation and monitoring market, considering the growing infrastructural investments related to buildings, utilities, bridges, and tunnels in these countries.
Challenge: Lack of skilled operators for installation and calibration of geotechnical instruments
Every infrastructure project has a set of its own critical parameters, and operators of geotechnical instruments are responsible for the identification of the parameters and selecting the appropriate instruments to measure those parameters accordingly. The instrument types as well as their specification, resolution, precision, and range are critical and, hence, skilled operators are needed for handling those instruments. Moreover, the information required during construction and post-construction also changes based on the type of construction. Soil and rock behavior depends on several factors. In some cases, the monitoring of one parameter is sufficient, but in the case of complex structures, the monitoring of several parameters and a correlation between them are essential. To perform all these functions, highly skilled personnel is required. However, the shortage of skilled workforce in APAC and high labor costs in the Americas and Europe are impeding the market growth globally. The impact of this challenge is expected to reduce during the forecast period owing to the growing number of skilled geotechnical instrumentation and monitoring personnel globally.
Geotechnical instrumentation and monitoring services to hold the largest market share during the forecast period
The number of market players offering geotechnical instrumentation and monitoring services is more than the companies offering instruments and software. Different types of instruments needed for geotechnical monitoring include inclinometers, piezometers, extensometers, and sensors among others. The data collected from these instruments is provided to the software for analysis. These solutions help to identify structural damages at an early stage and enable a high degree of structural safety. Though the hardware and software solutions can be reused after purchase, many companies that purchase these solutions rent them to other companies, which is considered as a service, making the services segment accounting for a larger market share than the hardware & software segment.
Wireless networking technology to register the highest growth in the geotechnical instrumentation and monitoring market during the period 2021 and 2026
Technological advancements related to wireless technology have led to the development of products to which conventional instruments such as strain gauges, piezometers, inclinometers, linear voltage displacement transducers, and accelerometers can be attached for centralized data collection and analysis. The growing demand for wireless networking technologies for geotechnical instrumentation and monitoring is a major factor contributing to the high market growth for wireless networking technology. However, wired networking technology is expected to hold the largest share of the market owing to the large adoption of wired instruments for geotechnical monitoring.
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