Global Geotechnical Instrumentation and Monitoring Market: Market Research by Knowledge Sourcing intelligence
Geotechnical Instrumentation and Monitoring Market
to be worth $3.3 billion
Geotechnical Instrumentation refers to the instruments used to monitor
geotechnical projects or sites requiring such monitoring. The geotechnical
instrumentation & monitoring market was valued at US$1.986 billion in 2017
and is projected to expand at a CAGR of 9.24% over the forecast period to reach
US$3.375 billion by 2023. Geotechnical instrumentation and monitoring are
essential for the successful completion of a geotechnical project. Growing
infrastructural investments across different countries all over the world,
stringent regulations related to the building structures and raising awareness
among the masses are the key driving factors contributing to the growth of the geotechnical
and instrumentation monitoring market. Major industry players in the market are
GEOKON incorporated, Deep Excavation LLC, Geocomp Corporation, Sisgeo S.r.l,
James Fisher & Sons plc, Eustis Engineering LLC, Nova Metrix LLC, Keller
Group plc and RST Instruments Ltd.
Important benefits of
Geotechnical Instrumentation and Monitoring
· Geotechnical instrumentation and
monitoring is extensively used for the monitoring and operations of man-made
structures like dams, mines, bridges, etc. These are very helpful to the
engineers and technicians due to the use of remote monitoring facility and
real-time data availability.
· Geotechnical instrumentation and
monitoring help in environmental monitoring by keeping an eye on groundwater
level and garbage dump stability. The instruments used in these cases are
susceptible to rust and can hold up against high temperature. This benefit will
help the Geotechnical instrumentation and monitoring market size grow and
expand because of the increasing awareness about protecting the environment and
the ill effects on health due to continuous climate changes.
· Geotechnical instrumentation and
monitoring protect the people from troubles of costing a great fortune by
supplying legitimate evidence in case of owners of surrounding buildings submit
a report of damage during construction.
Market Segmentation
Geotechnical instrumentation and monitoring market is segmented based on
application, product, and geography. By application, the market is classified
as Building &
Infrastructure, Power Generation, Mining, and Others. The geotechnical instrumentation and monitoring market analysis show that the building and
infrastructure will account for the largest share of the market. This is due to
the increased investment in construction and maintenance activities and its use
in applications such as lateral and vertical deformation monitoring and
rock/soil stress measurement.
By
product, the market is classified as Hardware, Software, and Services. The
services product type segment contributes a significant share in the market.
The services can be categorized as monitoring, consultation, and installing,
where monitoring involves the monitoring of structures, installation involves the
installation of systems and consultation involves consultation regarding the
use and deployment of hardware and software.
By geography, the market is classified as North America,
South America, Middle East, and Africa, Europe, and The Asia Pacific. Asia
Pacific holds a significant Geotechnical instrumentation and monitoring market share because of the
increasing industrialization and urbanization. There is an increased investment
in infrastructure in various countries in the region which will support the
demand for the market. Also, the advancement in technologies will result in
boosting growth.
Key questions
answered in this report:
- How has the geotechnical instrumentation and monitoring market performed so far and how it will perform in the future?
- What are the key regional markets in the geotechnical instrumentation and monitoring industry?
- What are the various segments in the geotechnical instrumentation and monitoring industry?
- What are the factors that are driving the growth of the industry?
- What are the recent developments and the key players in the industry?
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