DUBLIN--(BUSINESS WIRE)--The "Geotechnical Instrumentation and Monitoring Market by Offering (Hardware & Software, and Services), Technology, Structure (Tunnels & Bridges, Buildings & Utilities, Dams), Application, End User, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Geotechnical Instrumentation and Monitoring (GTIM) Market 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%
Key factors driving the growth of the GTIM market 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.
Strategies such as product launches and developments, contracts, mergers and acquisitions, joint ventures, and expansions adopted by market players are fueling the growth of the GTIM market. However, the generation of inaccurate results owing to errors in readings, and high installation and monitoring costs are restraining the growth of the market.
Wired network technology to account for larger market size from 2019 to 2024
Wired technology is the most commonly used networking technology in geotechnical instrumentation and monitoring applications. Wired technology is primarily used to measure the pore water pressure, slope and rock stability, and underground pressure. These applications are useful to efficiently monitor the structure and maintain their safety. The wired technology provides a host of benefits such as reduced attenuation of data during transfer and high speed of operations, and higher bandwidth for transmission, which are critical in geotechnical operations. All these factors will propel the growth of GTIM market during the forecast period.
Americas to be the largest market, and APAC to be the fastest-growing market for GTIM from 2019 to 2024
The Americas is expected to be the largest market for GTIM during the forecast period. The high growth in the region is attributed to an increase in investment in infrastructural projects in the region. In addition, countries such as the US and Canada are increasingly adopting geotechnical instrumentation and monitoring tools to ensure safety and security of structures and their people.
APAC is expected to register the highest growth in the GTIM market during the forecast period. Factors such as increased population and rapid urbanization have increased the use of structures such as bridges, buildings, highways, and tunnels. The adoption of the geotechnical instrumentation and monitoring solutions in countries such as South Korea, Japan, and India for projects related to geotechnical facilities such as tunnels, bridges, and dams will also drive the growth of the market in the region.
Fugro (Netherlands), Keller Group (UK), Nova Metrix LLC (US), Geokon Incorporate (US), and Geocomp Corporation (US) are among a few significant players in the GTIM market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in GTIM Market
4.2 GTIM Market, By Structure
4.3 GTIM Market in Americas, By Region and Structure
4.4 GTIM Market, By End User
4.5 GTIM Market, By Region
5 Market Overview
220.127.116.11 Significant Rise in Infrastructure Investments Across Various Countries
18.104.22.168 Failure of Geotechnical Structures Results in Loss of Lives and Destruction of Infrastructure, as Well as Financial Losses
22.214.171.124 Stringent Government Regulations to Make Structures More Sustainable and Safe
126.96.36.199 Increased Awareness About Benefits of GTIM Tools
188.8.131.52 High Installation and Monitoring Costs
184.108.40.206 Opportunities in APAC and GCC Countries
220.127.116.11 Investments in Oil & Gas and Major Energy Projects
18.104.22.168 Dearth of Skilled Labor/Operators for Installation and Calibration of Geotechnical Instruments
22.214.171.124 Technical Challenges and Operational Factors
126.96.36.199 Generation of Inaccurate Results Owing to Errors in Readings
6 GTIM Market, By Offering
6.2 Hardware and Software
6.2.1 APAC is Growing at the Highest Rate During the Forecast Period
188.8.131.52 Data Acquisition System (DASS)
6.3.1 The Americas Held the Largest Share of the GTIM Market for Services in 2018
7 GTIM Market, By Networking Technology
7.2 Wired Networking Technology
7.2.1 Wired Technology is the Most Commonly Used Networking Technology in Geotechnical Instrumentation and Monitoring Applications
7.3 Wireless Technology
7.3.1 Wireless Instruments have the Great Potential to Expand Their Use in Geotechnical Engineering
8 GTIM Market, By Structure
8.2 Tunnels and Bridges
8.2.1 APAC has Started Using Geotechnical Monitoring Techniques to Its Almost Every project
8.3 Buildings and Utilities
8.3.1 The Need for Buildings and Utilities is Growing With Rapid Industrialization and Urbanization
8.4.1 The Major Factor That Makes APAC the Fastest-Growing Market is the Government Mandate to Employ Geotechnical Instrumentation and Monitoring Instruments for Dams and Other Major Structures
8.5.1 The Geotechnical Monitoring Technique is Implemented in Mining Facilities to Maintain the Safety of Workers, Instruments, and Structures
9 Applications of GTIM Techniques
9.2 Measurement of Pore Water Pressure
9.2.1 Prediction of Slope Stability
9.3 Measurement of Rock/Soil Stress
9.3.1 Soil Stability
9.3.2 Rock Stability
9.4 Monitoring of Lateral Deformation
9.5 Monitoring of Vertical Deformation
10 GTIM Market, By End User
10.2 Buildings and Infrastructure
10.2.1 Countries Such as the US and Canada are Increasingly Adopting Geotechnical Instrumentation and Monitoring Techniques to Ensure Safety and Security of Structures and People
10.3 Energy & Power
10.3.1 The Growth of the GTIM Market for the Energy & Power Vertical is Driven By Nuclear Power, Geothermal Power, Hydroelectric Power, and Wind Power Projects Across the World
10.4 Oil & Gas
10.4.1 in the Oil & Gas Sector, Geotechnical Monitoring Plays A Vital Role in Maintaining the Safety of Structures
10.5.1 The Geotechnical Monitoring Technique Helps Predict Alarming Situations to Protect the Mine and Miners From Hazards
11 GTIM Market, By Geography
- Keller Group PLC
- Nova Metrix LLC
- Geokon, Incorporated
- Geocomp Corporation
- Sisgeo S.R.L.
- COWI A/S
- James Fisher and Sons PLC
- Deep Excavation LLC
- RST Instruments Ltd.
Other Ecosystem Players
- Geomotion Singapore
- Eustis Engineering LLC.
- DST Consulting Engineers Inc.
- Geosig Ltd.
- Smart Structures
- Amberg Technologies
- Wood PLC
- Progressive Machine Tools
- Sixense Soldata
For more information about this report visit https://www.researchandmarkets.com/r/9ordxr