The Europe Infrastructure Monitoring Market would witness market growth of 9.9% CAGR during the forecast period (2023-2030).
This market is expanding due to the increased use of cutting-edge sensor technologies, descending sensor costs, increasing demand for preventive maintenance, and rising capital expenditures to ensure better maintenance of critical infrastructure across end-user industries. One of the primary factors driving this business is the rising demand for predictive maintenance to lower life cycle maintenance costs. The predictive condition monitoring of structures, production processes, and vehicles extensively uses inertial sensors of MEMS (Microelectromechanical systems). The development of IoT and sophisticated analytics, which continuously enhance the functionality of such devices, have further enhanced the market.
Infrastructure monitoring manages infrastructure by examining essential data & information about it. It helps to ensure the infrastructure's security and health by regularly gathering data and issuing alerts for network hacking, unplanned outage, and other occurrences. Early problem detection, performance monitoring, real-time data, and other features give infrastructure monitoring immense prominence.
Infrastructure monitoring is frequently used to stop issues from turning into outages. The hosts, containers, or other backend elements had issues or were delayed during an incident can be seen on an interface of infrastructure monitoring. Engineers can identify which hosts or containers are to blame during an outage. Organizations may tackle customer-facing issues and resolve support requests as a consequence.
The urban population is expected to grow in all size classes between 2018 and 2030, while the rural population is expected to fall slightly, according to Trend Deck 2021: Urbanisation, issued by the UK government in June 2021. The relevance of strategic urban development using digital technologies is widely acknowledged, given that 77 percent of Germans reside in cities and towns. Modern urban living is being disrupted by technology, which has the potential to raise living standards. As a result of the expansion of smart city projects and the urbanization of this region, the market will expand in the upcoming years.
The Germany market dominated the Europe Infrastructure Monitoring Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $634 million by 2030. The UK market is estimated to witness a CAGR of 9% during (2023 - 2030). Additionally, The France market would experience a CAGR of 10.7% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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).
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