Geotechnical Instrumentation And Monitoring Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

The global geotechnical instrumentation and monitoring market is anticipated to grow at a compounded annual growth rate (CAGR) of 10.0% during the forecast period of 2022-2030.

Geotechnical instrumentation refers to the devices and technologies utilized for monitoring structures, processes, and infrastructures at construction sites during construction activities or projects. These devices and technologies provide numerous advantages including systematic determination of the initial site conditions, observation of methods, and offering of protection and safety. They also assist in validating structural design and aid in detecting faults well beforehand to reduce risks. In this way, they play a crucial role in the safety of people associated with the production process. By providing data at every point of a project, these instruments and technologies enhance the quality and accuracy of the designed projects.

GROWTH DRIVERS:

Factors such as the increasing construction of public utilities including dams & bridges; the proliferating adoption and application of geotechnical instrumentation for preventing the failure of geotechnical structures; the rising number of government regulations for sustainable structures; the soaring awareness regarding the benefits of instrumentation and monitoring tools; the rapid economic growth and urbanization across the globe and the burgeoning concerns over the failure of geotechnical facilities and the safety & security of the mining operations in mining companies are primarily driving the growth of the global geotechnical instrumentation and monitoring market.

Additionally, the focus of countries across different regions on infrastructural development is colossally rising. To achieve this, heavy investments are poured in from both public and private sector year-on-year in these countries. Well-established infrastructure crucially contributes to enhanced productivity, leading to economic growth and the well-being of the people living in the countries. As such, the investments in this sector are expected to continue to expand at a robust rate in the forthcoming years, which, in turn, is estimated to significantly contribute to the growth of the global geotechnical instrumentation and monitoring market.

Moreover, the leading players in the geotechnical instrumentation and monitoring market have been witnessed to allocate substantial amounts of funds in research & development activities to launch technologically advanced products & services into the market. In tandem with the growing number of investments and implementation of other strategies to boost the geographical presence of these companies, their efforts in the development of superior products are escalating, which is estimated to fuel the growth of the geotechnical instrumentation and monitoring market robustly in the upcoming years.

Furthermore, the growing developments in oil & gas-related projects and the rising investments in the oil and gas industry are estimated to further add to the market's growth during the forecast period.

However, the low availability of skilled operators and the higher installation and monitoring costs are expected to hinder the growth of the global geotechnical instrumentation and monitoring market during the forecast period.

GEOTECHNICAL INSTRUMENTATION AND MONITORING MARKET SEGMENTATION:

By Offering:

·         Hardware & Software

·         Services

By Networking Technology:

·         Wired

·         Wireless

By Structure:

·         Bridges & Tunnels

·         Buildings & Utilities

·         Dams

·         Others

By End User:

·         Buildings & Infrastructure

·         Energy & Power

·         Oil & Gas

·         Mining

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Based on networking technology, the wired segment acquired the largest share of the global geotechnical instrumentation and monitoring market in 2021. The segment is projected to retain its hold over the market during the forecast period as a result of the increasing adoption of wired instruments for geotechnical monitoring. However, the wireless segment is estimated to witness growth at the highest growth rate over the forecast period of 2022-2030. Factors such as the enhancing demand for wireless networking technologies for geotechnical instrumentation and monitoring and the growing advancements in wireless technologies are attributable to the segment’s growth.

Based on end-user, the buildings & infrastructure segment captured the largest share of the global geotechnical instrumentation and monitoring market in 2021 and is expected to continue doing the same over the forecast period. Factors including the increasing number of infrastructure projects across the globe; the proliferating awareness regarding the benefits of geotechnical instrumentation and monitoring and the growing government regulations for mandatory geotechnical monitoring of structures are some of the primary factors contributing to the growth of this segment.

Based on offering, the services segment held the largest share of the global geotechnical instrumentation and monitoring market in 2021. The segment is predicted to further maintain its lead in the market over the forecast period owing to the burgeoning demand for the monitoring of nuclear power plants, groundwater levels, rail/road, metros & sewer tunnels, soft soil and the surging number of market players offering different kinds of services across the globe.

REGIONAL OUTLOOK:

The Asia Pacific region dominated the global geotechnical instrumentation and monitoring market in 2021. The region is expected to continue with the trend further and grow at the highest growth rate in the market among all other regions during the forecast period. The growth of the market in the region can be attributed to the increasing deployment of geotechnical instrumentation and monitoring across various end-use sectors in the region; the escalating investments related to infrastructure in the region;  the increasing number of government-based mandates for the mandatory application of geotechnical instrumentation and monitoring for various structures in the region; the ever-increasing population leading to fast-paced urbanization, and the enhancing requirement for modernizing the existing infrastructure in the region. India, China and Japan are the major contributors to the growth of the market in the region.

The North American region is also a prominent shareholder of the global geotechnical instrumentation and monitoring market. It is slated for robust expansion in the next few years because of the high number of investments for under-construction and planned infrastructure projects in the region, and the presence of strict government policies and regulations for infrastructural development in the region. The U.S., alongside Canada, is the major contributor to the growth of the market in the region.

KEY COMPANIES IN GEOTECHNICAL INSTRUMENTATION AND MONITORING MARKET:

·         James Fisher and Sons

·         Deep Excavation LLC

·         RST Instruments

·         GEI Consultants

·         Monitoring Solution Providers Pte Ltd.

·         WJ Groundwater Limited

·         Geotechnics Limited

·         GaiaComm

·         Fugro

·         Keller Group

·         Nova Metrix LLC

·         Geokon

·         Geocomp Corporation

·         Innovative Geotechnical Instrumentation

·         Quantum Geotechnical

·         Geotechnical Services Inc.

·         Wardle Drilling & Geotechnical Ltd.

·         Canterbury Seismic Instruments

·         Durham Geo-Enterprises Inc.

·         Other Players