Geotechnical Instrumentation and Monitoring Market Set to Grow at a CAGR of 9.0% with Major Industries: Fugro, Keller Group, Nova Metrix LLC, Geokon Incorporated, Geocomp Corporation

The geotechnical instrumentation and monitoring market (GTIM) is expected to grow from USD 3.3 billion in 2019 to USD 5.0 billion by 2024, growing at a CAGR of 9.0%. Factors driving the demand for these instruments include a significant rise in infrastructure investments across various countries; stringent government regulations to make structures more sustainable and safer; failure of geotechnical structures results in loss of lives and destruction of infrastructure, as well as financial losses; and increased awareness about benefits of GTIM tools.

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Fugro (Netherlands), Keller Group (UK), Nova Metrix LLC (US), Geokon Incorporated (US), and Geocomp Incorporated (US) are a few of the major players in the GTIM market. Product launches and developments, contracts, mergers and acquisitions, expansions, and joint ventures are a few key strategies adopted by market players to gain a competitive edge.

Fugro (Netherlands) has global presence with offices located in more than 65 countries across the world. It offers a wide range of services to several industries, such as power, oil & gas, and mining, and the oil & gas industry occupies the largest market share. The high focus of the company on providing integrated, digital, and innovative solutions and services enables clients to operate their construction and infrastructure projects reliably and effectively. The company strives to capture the upturn in the infrastructure and energy sectors.

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Keller (UK) has global presence, with offices located in more than 40 countries, across the world. Keller Group offers a broad range of services in the GTIM market. North America is the largest market for the company, followed by Europe. As a part of inorganic strategies, the company focuses on mergers and acquisitions to increase its geographic reach. The company has managed to capture several high-budget projects in the recent past; for instance, it received a contract for ground improvement work at Port Said, Egypt, in 2016.

Nova Metrix (US) has a host of acquisitions on its name in the GTIM market. The current repertoire of subsidiaries of the company includes Durham Geo Slope-Enterprises, Inc. (DGSI), Roctest Ltd., Sensornet Ltd., Sherborne Sensors Ltd., Soil Instruments Limited, Westbay Instruments, Waterloo Hydrogeologic, and Van Essen Instruments B.V. These companies collaborate to provide services to the clients spanning a variety of geotechnical applications. The company has participated in various conferences to promote its brand of services. The product portfolio of the company is exhaustive in nature, whereas the services vary according to the desired application.