The Asia Pacific Infrastructure Monitoring Market would witness market growth of 10.9% CAGR during the forecast period (2023-2030).
The development, implementation, and use of technologies, systems, solutions, and services that are aimed at monitoring & evaluating the condition, performance, and integrity of different types of infrastructure across the verticals, including oil & gas, manufacturing, aerospace & defense, construction, automotive, and power generation are the main areas of focus for infrastructure monitoring.
Equipment, structures, buildings, bridges, roads, and utility networks are all included in this. To enable preventative maintenance, identify potential issues or failures, assure the safety and dependability of infrastructure assets, and maximize their performance, infrastructure monitoring strives to collect real-time data, frequently through sensors and monitoring systems.
The market includes various technologies, such as communication networks, sensors, data acquisition systems, analytics software, and data acquisition systems, as well as the related services needed to build, run, and maintain monitoring solutions. The market significantly improves the durability, safety, and efficiency of infrastructure systems, which supports the general growth and sustainability of economies and society.
The medical device industry in China is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 8.3% from 2021 to 2026, reaching $48.8 billion by 2026, according to the International Trade Administration. India is ranked 10th on the Medical Tourism Index (MTI) for 2020–21 by the Medical Tourism Association, 12th among the top 20 wellness tourism worldwide, and 5th among those in APAC. The sector for medical tourism in India was evaluated at $5–6 billion in 2020 and is projected to reach $13 billion by 2026. As the healthcare sector across the region is expanding, it will drive the growth of the market.
The China market dominated the Asia Pacific Infrastructure Monitoring Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $751.1 million by 2030. The Japan market is poised to grow at a CAGR of 10.2% during (2023 - 2030). Additionally, The India market would register a CAGR of 11.6% during (2023 - 2030).
Based on Vertical, the market is segmented into Construction, Manufacturing & Automotive, Oil & Gas, Aerospace & Defense, and Power Generation & Others. Based on Application, the market is segmented into Vibration Monitoring, Damage Detection, Corrosion Monitoring, Crack Detection, Thermal Monitoring, Multimodal Sensing, Strain Monitoring, and Others. Based on Component, the market is segmented into Hardware, Software, and Services. Based on Technology, the market is segmented into Wireless, and Wired. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Infrastructure Monitoring Market is Projected to reach USD 9.6 Billion by 2030, at a CAGR of 10.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Parker Hannifin Corporation, Siemens AG, General Electric Company, Honeywell International, Inc., Rockwell Automation, Inc., Yokogawa Electric Corporation, National Instruments Corporation, Acellent Technologies, Inc., Campbell Scientific, Inc., AVT Reliability Ltd (A.E.S. Engineering Limited).
By Vertical
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