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IoT Market in Structure Monitoring to reach
$235.3 billion by 2022

enquiry@psmarketresearch.com
www.psmarketresearch.com

IoT Market in Structure Monitoring Market

Browse Report Summary with Detailed TOC on IoT Market in Structure Monitoring by
Solution (Physical Security System, EMS, Building Communication System, Parking
Management System, Plumbing & Water Management, Elevators & Escalators
Management System, Earthquake Monitoring System), By Platform (Application
Management, Device Management, Network Management), By Component
(Hardware, Software, Services), By Application (Buildings, Bridges) – Global Market
Size, Share, Development, Growth and Demand Forecast, 2013-2022,
at: https://www.psmarketresearch.com/market-analysis/iot-market-in-structure-monitoring

IoT Market in Structure Monitoring Market

IoT Market in Structure Monitoring to witness
double digit growth
The global IoT market in structure monitoring is expected to reach a size of $235.3
billion by 2022, growing at a CAGR of 24.2% during 2017 – 2022. With the rising
incidence of natural calamity and disasters, the earthquake monitoring system is
anticipated to witness the fastest growth during the forecast period. Also, the rising
number of vehicles are putting tremendous pressure on the existing and upcoming
infrastructures to accommodate the ever-growing vehicles, which depicts the need
of effective parking management system through IoT. Among various application
areas, the IoT in structure monitoring is getting widely adopted in commercial
buildings and bridges to keep a constant check during pre-construction and postconstruction phases for increasing the lifespan of infrastructures.
The adoption of automated structure monitoring is witnessing a rapid growth, owing
to government inclination across countries towards the development of smart cities,
and rising untoward incidences such as earthquakes and cyclones. The real estate
companies utilize IoT in structure monitoring to increase the life of existing structure
with minimum maintenance cost and time, which can be sighted as one of the major
contributing factors for the growth of IoT market in structure monitoring.

IoT Market in Structure Monitoring Market

Insights on market segments
As per the findings of the research, device management for
structure monitoring through IoT will witness a robust growth
during the forecast period. However, physical security system
has been the larger revenue generator in this market, as
compared to other solutions offered. Among the various
platforms used in IoT for structure monitoring, application
management is expected to continue contributing the largest
revenue during the forecast period. Also, IoT in structure
monitoring will be witnessing fastest growth in demand for
applications in bridges, during 2013 - 2016. On the other
hand, market for buildings is also expected to show a robust
growth during the forecast period.

IoT Market in Structure Monitoring Market

The market to witness fastest growth in MEA
The market is expected to grow with the fastest rate in Middle East & Africa,
during the forecast period. The fast growth is owed to the increasing
penetration of IoT in structure monitoring for sky rise buildings, dams,
tunnels, and oils & gas plants in MEA. The upsurge in urbanization, along
with purposed investment in smart cities in the region, is expected to boost
its demand. Some of the skyscraper buildings such as Burj Khalifa, Princess
Tower and 23 Marina, have already implemented IoT solutions for structure
monitoring to keep the structure safe with minimum cost. The market in
Middle East & Africa is expected to witness a double-digit growth during
the forecast period.
The demand of physical security is witnessing rapid growth in building
surveillance system. Also, increasing urbanization, in addition to the
growing penetration of maintenance and repair activities in bridges in
developing countries, is expected to bolster the demand of IoT in structure
monitoring during the forecast period.

IoT Market in Structure Monitoring Market

Growing demand of smart infrastructure across the
globe pushing its demand
The increasing investment in smart infrastructure by governments across various
countries, is one of the prime factors for the growth of the market. The increased
investment in access control system, along with large capital funding for safety & alarming
system in developing countries, is further assisting the market growth. Recently, the
government of India started digital India initiative, under which 100 smart cities will be
formed across the country, which will adopt latest technologies for structure monitoring.
The government, along with the private sector companies, is expected to invest heavily in
improvising infrastructure health in the country, during the next five to six years.
Rapid expansion in infrastructure, coupled with rising awareness towards damage
detection, is fueling the demand for structure monitoring. Decline in price of devices used
to check the infrastructures’ health, is further aggravating the IoT market in structure
monitoring. Earlier, in developing countries, infrastructure companies had budget
constraint, as a result of which, manual inspection of structures were performed. In the
present context, lowering down of cost and increased availability of sensors is anticipated
to bolster its demand. Furthermore, minimal maintenance cost of the monitoring system
has been encouraging the infrastructure companies to adopt such solutions.

IoT Market in Structure Monitoring Market

Highly consolidated global market
The global IoT market in structure monitoring was consolidated in 2016,
wherein the top five players accounted for majority of the market revenue.
Johnson Control Inc. was the global market leader in 2016, while the other
major companies operating in this market are Cisco Systems Inc., IBM
Corporation, General Electric, Honeywell International Inc, Schneider
Electric SE, ABB Ltd, and Delta Control Inc.

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