Geotechnical Instrumentation and Monitoring Market Driven by Increasing Construction Activities

The key drivers for the geotechnical instrumentation and monitoring market are the expanding construction sector, strict government mandates regarding quality construction, and increasing awareness regarding safety standards. 

Download Brochure With Technical Innovation 

From $3.1 billion in 2018, the market revenue is projected to rise to $6.1 billion in 2024, at an 11.8% CAGR during 2019–2024 (forecast period). Such instruments are used before construction, to analyze the soil quality, whereas after project completion, they are utilized to study the strength and durability of the finished structure.

Based on component, the market divisions are hardware, services, and software, among which services held the largest revenue share in 2018. This is attributed to the increasing need to monitor the condition of old and important structures, such as tunnels and dams, as a result of the stringent government regulations implemented to prevent sudden collapse, which is a key market driver. 

To mitigate the loss of human and wildlife in the event of a collapse, governments across the world have implemented strict mandates with regard to the quality of construction.

Sponsor Ads

• Ad Space Available - Rent it Now!

Report this Page

Created on Mar 9th 2020 05:20. Viewed 314 times.

Share on APSense

Comments