Global infrastructure monitoring market

Posted by occams on May 3rd, 2018

Global Infrastructure Monitoring Market: Occam's provides holistic view on Global Infrastructure Monitoring Market with key insights on quality and in-dept analysis report from expertise.

http://www.occamsresearch.com/Infrastructure-Monitoring-Market

Global infrastructure monitoring market is expected to grow impressively at a CAGR of 18% during forecast period 2017-2024. Infrastructure monitoring is defined as the use of non-destructive analysis and sensing of structural characteristics for identifying the occurrence of damage. It involves the integration of sensors, data transmission, smart materials, computational power, and processing ability in the structures. Infrastructure monitoring involves a continual collection and a review of meaningful data related to infrastructure. This collection and review of data enables the effective infrastructure management. High capital investments for structural health monitoring, catastrophic failure of the infrastructure, reduction in sensors prices and aging infrastructure and benefits of infrastructure monitoring are some of the factors driving the global infrastructure monitoring market during forecast period 2017-2024.

Rising capital investment for the structural health monitoring worldwide is one of the major drivers which contributes to the growth of global infrastructure monitoring market during forecast period. Structural health monitoring for civil structures have increasingly become popular globally. It is due to the several opportunities offered by structural health monitoring  in the field of construction, maintenance and management. It includes research, reduction of inspection costs, etc. It allows better understanding of the behavior of structures under seismic protection, dynamic loads, and allows observation of the structural response and evolution of damage, in real-time or near future. According to the American Society of Civil Engineers, the U.S. government is trying to increase its investment in infrastructure maintenance and advancement from all levels of private and the government sector in order to close the .0 trillion 10-year investment gap. They are expecting to increase their investment from 2.5% to 3.5% of U.S. Gross Domestic Product (GDP) by 2025.