Industrial Machine Vision Market Technology, Applications and Growth Drivers up to 2024

The infrastructure monitoring market in the Americas is anticipated to grow at a high rate owing to the tendency of early adoption of the latest advanced technologies in the region. Increasing government investments in the U.S., Brazil, and Canada to renovate the existing structures and undertake new construction projects are expected to boost the infrastructure monitoring market growth in the region.

Asia Pacific is also projected to witness a high growth due to the rapid urbanization in economies including Japan, China, and India. The Cross-Ministerial Strategic Innovation Promotion Program (SIP) is undertaken by the government of Japan, which includes infrastructure maintenance, renovation, and management program. The program aims at incorporating these systems to ensure predictive maintenance of infrastructure.

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Infrastructure monitoring market is segmented into wired and wireless. The wireless segment is projected to grow significantly owing to the ease of maintenance offered by wireless systems. Wired systems are susceptible to wear & tear and climatic changes. They also increase the overall maintenance costs owing to the amount of hardware used. The wired segment is predicted to grow at a steady rate over the forecast timespan. Wired systems are already implemented in many existing structures and replacing them with entirely new wireless systems can be technically difficult, thus propelling the demand for wired systems.

Infrastructure monitoring market is expected to grow owing to increasing applications in mining, energy, aerospace & defense, civil, transportation, marine, automotive, and industrial machinery industries. The civil segment is anticipated to dominate the industry over the coming years. Increasing occurrences of structural failure and accidents along with the growing importance of large civil projects are projected to drive the industry growth. Countries including Japan, India, the UK, and the U.S. are investing in constructing critical infrastructural facilities such as dams, highways, tunnels, bridges and residential & commercial buildings for economic development. This is expected to fuel the infrastructure monitoring market growth over the forecast timespan.

Key players in the infrastructure monitoring market include Structural Monitoring Systems Ltd., Sixense, Geomotion Singapore, RST Instruments Ltd., Campbell Scientific, Inc., Acellent Technologies, Inc., Cowi, Geocomp Corporation, and Digitexx Data Systems, Inc. In June 2017, Acellent Technologies, Inc. announced a strategic collaboration with Testia GmbH, through a Memorandum of Understanding (MOU) with an aim to commercialize, market and install the structural health mapping solutions by Acellent. Increasing competition among major players to offer advanced solutions is driving the infrastructure monitoring market.

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