DUBLIN--(BUSINESS WIRE)--The "Geotechnical Instrumentation and Monitoring Market - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The geotechnical instrumentation and monitoring market is estimated to be worth USD 3.2 billion in 2021 and is projected to reach USD 5.1 billion by 2026, at a CAGR of 9.6%.
Rising infrastructure investments, increasing adoption of geotechnical instruments to prevent structural failures, government regulations for sustainable structures and growing awareness about the benefits of instrumentation and monitoring tools are some of the major factors driving the growth of the geotechnical instrumentation and monitoring market. However, high installation and monitoring costs are likely to hinder market growth.
The market for geotechnical instrumentation and monitoring services to account for the largest 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. Various 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 as the stakeholders can take preventive and corrective actions at the earliest to ensure 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. The presence of many geotechnical instrumentation and monitoring service providers to drive the market growth.
The market for wireless networking technology is estimated to register the highest CAGR between 2021 and 2026 in geotechnical instrumentation and monitoring market
Advancements in technology have led to the development of wireless instruments 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. However, wired networking technology is expected to hold the largest share of the market owing to the higher adoption of wired instruments for geotechnical monitoring.
Geotechnical instrumentation and monitoring market in the Asia Pacific region is expected to witness a robust growth during 2021-2026
Asia Pacific is expected to register the highest market growth during the forecast period. The major factors driving market growth in this region include the increasing investments associated with infrastructure and the subsequent increase in the number of new infrastructure projects and directives by governments for the compulsory use of geotechnical instrumentation and monitoring for various structures.
The growing population in many Asia Pacific countries has led to rapid urbanization which has led to the commencement of several infrastructure projects, providing growth opportunities for market players in the geotechnical instrumentation and monitoring market.
Competitive Landscape
The major players in the geotechnical instrumentation and monitoring market are Fugro (Netherlands), Keller Group (UK), Nova Metrix LLC (US), Geokon (US), Geocomp Corporation (US), Sisgeo S.r.l. (Italy), COWI A/S (Denmark), James Fisher and Sons (UK), Deep Excavation LLC (US), and RST Instruments (Canada).
Premium Insights
- Increasing Infrastructure Investments to Significantly Contribute to Market Growth
- Wired Networking Technology to Account for Larger Market Size Than Wireless Networking Technology During Forecast Period
- Bridges & Tunnels to Account for Largest Market Share During Forecast Period
- Buildings & Infrastructure to Account for Largest Market Share During Forecast Period
- Services to Account for Larger Market Share Than Hardware & Software During Forecast Period
- Americas to Account for Largest Share of Geotechnical Instrumentation and Monitoring Market During Forecast Period
- Bridges & Tunnels and UK Accounted for Largest Share of Geotechnical Instrumentation and Monitoring Market in Europe in 2020
Market Dynamics
Drivers
- Rising Infrastructure Investments
- Adoption of Geotechnical Instrumentation to Prevent Structural Failures
- Government Regulations for Sustainable Structures
- Growing Awareness About Benefits of Instrumentation and Monitoring Tools
- Key Benefits of Geotechnical Instrumentation and Monitoring
Restraints
- Impact Analysis of Restraints on Geotechnical Instrumentation and Monitoring Market
- High Installation and Monitoring Costs
Opportunities
- Growing Opportunities in APAC and Gcc Countries
- Increasing Investments in Oil & Gas and Major Energy Projects
Challenges
- Lack of Skilled Operators for Installation and Calibration of Geotechnical Instruments
- Technical Challenges and Operational Factors
- Generation of Inaccurate Results Owing to Errors in Readings
- Adverse Impact of COVID-19 on Various Industries
Industry Trends
List of Key Patents and Innovations
- Number of Patents Granted for Geotechnical Instrumentation and Monitoring (2010-2020)
- Top 10 Companies with Highest Number of Patent Applications for Geotechnical Instrumentation and Monitoring, 2010-2020
- Top 20 Patent Owners for Geotechnical Instrumentation and Monitoring, 2010-2020
- Key Patents and Innovations in Geotechnical Instrumentation and Monitoring Market, 2010-2020
Key Technology Trends
- Non-Destructive Field Testing
- Wired and Wireless Sensor Networks
- Distribution of Processed Data Over Internet
- Ultra-Low-Power Strain Gauges
Case Studies
- Tunnel Monitoring: Encardio-Rite: Rohtang Pass Tunnel Monitoring
- Bridge Monitoring: Geocomp Corporation: Bayonne Bridge Instrumentation and Monitoring
- Geotechnical Instrumentation and Monitoring for Hydroelectric Power Plant: Hma Geotechnical: Instrumentation and Monitoring for Asahan No.3 Hydroelectric Power Plant, Indonesia
Company Profiles
Key Players
- Fugro
- Keller Group
- Nova Metrix LLC
- Geokon
- Geocomp Corporation
- Sisgeo S.R.L.
- Cowi A/S
- James Fisher and Sons
- Deep Excavation LLC
- Rst Instruments
Other Key Players
- Geomotion Singapore
- Eustis Engineering
- Dst Consulting Engineers Inc.
- Geosig Ltd.
- Smart Structures
- Amberg Technologies
- Pmt Infrascience
- Terracon
- Gaiacomm Ltd
- Geotechnics Limited
- Mae Advanced Geophysics Instruments
- Petra Geosciences, Inc.
- Geocisa UK
- Geosense
- S.W. Cole Engineering, Inc.
- Wood plc
For more information about this report visit https://www.researchandmarkets.com/r/mtlgwt
