Key Market Overview:
Infrastructure Monitoring Market achieved a valuation of USD 8,791.73 Million in 2022, displaying a robust CAGR of 8.6% during the forecast period (2023-2030), the Infrastructure Monitoring Market is projected to reach a substantial worth of USD 16,673.39 Million, presenting ample opportunities for industry players and stakeholders.
Infrastructure monitoring refers to the process of collecting and reviewing information associated with infrastructure components or equipment for early identification and mitigation of performance issues. Infrastructure monitoring offers various benefits including early problem detection, real-time notifications related to performance issues, and higher reliability among others. The aforementioned benefits of infrastructure monitoring are key determinants for increasing its utilization in civil infrastructure, energy & power, aerospace & defense, mining, oil & gas, and other industries.
Factors such as the increasing development of energy and power plants and rising need for area monitoring solutions to ensure operational safety within power plants are among the key factors driving the infrastructure monitoring solutions. Additionally, the expansion of oil & gas plants and rising demand for predictive maintenance to reduce maintenance costs are significant factors fostering the market demand for infrastructure monitoring solutions.
In May 2023, New Relic launched its new infrastructure monitoring solution that analyses the health and performance of applications in real time. The infrastructure monitoring solution enables faster diagnosis of infrastructure performance issues. Therefore, the rising development of infrastructure monitoring solutions is further driving the growth of the market.
Infrastructure Monitoring Report Coverage:
Rising utilization of infrastructure monitoring solution in the energy & power sector is driving the market growth
|Market Size in 2030 (USD Million)
|By Deployment Type
|Cloud and On Premise
|By End Use
|Civil Infrastructure, Energy & Power, Aerospace & Defense, Oil & Gas, Mining, and Others
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]
- North America [United States, Canada, Mexico]
- Middle East & Africa [GCC, North Africa, South Africa]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
|National Instruments Corporation, Campbell Scientific Inc., SISGEO SRL, Structural Monitoring Systems Plc, Xylem Inc., Acellent Technologies Inc., Geocomp Corporation, Geokon Inc., AVT Reliability Ltd., and Infibra Technologies
Infrastructure monitoring solutions are mainly employed in the energy & power sector for applications involving area monitoring, detection, and identification of performance issues. Moreover, running of power plants and their equipment for ensuring operational efficiency and safety has been propelling the demand for infrastructure monitoring system. Furthermore, infrastructure monitoring solutions facilitate predictive maintenance and prevent explosive on-site hazards, which are key determinants for driving its utilization in the energy & power sector.
Factors including rising demand for electricity, expansion of energy & power generation facilities, and the increasing need for efficient monitoring solutions in power plants are among the major factors driving the adoption of infrastructure monitoring solutions.
According to International Energy Agency (IEA), coal-fired power generation output increased by 8% in 2021 as compared to 2020. Additionally, in March 2023, SSE Thermal\'s Keadby 2 gas-fired power plant commenced its operations in the United Kingdom. The plant has a total capacity of 893 megawatts and an efficacy of around 63%. Hence, the growth of energy & power sector is driving the adoption of infrastructure monitoring solutions to ensure safe operational environment and identify performance issues related to the power plants, in turn proliferating the market growth.
Security risks associated with implementation of cloud-based infrastructure monitoring solution is restraining the market growth
The implementation of cloud-based infrastructure monitoring solutions is associated with data security risks, which is a prime factor restricting the growth of the market. The deployment of cloud-based infrastructure monitoring solutions is creating a higher risk of security threats including cyberattacks, data breaches, and privacy disclosures as most of the data including sensitive information is stored and processed on the cloud, which makes the system highly susceptible to cyber attackers and hackers.
Additionally, cloud-based monitoring models are more prone to data loss or leakage, and accidental exposure of credentials, along with legal and regulatory compliance. Hence, high data security risks associated with the implementation of cloud-based infrastructure monitoring solutions are restraining the growth of the market.
Infrastructure Monitoring Report Market Segmentation:
By Deployment Type
The deployment type segment is divided into cloud and on premise.
The cloud segment is anticipated to contribute to a substantial revenue share during the forecast period. The cloud-based deployment offers seamless collaboration along with fast and cost-effective access to infrastructure monitoring solutions by multiple users irrespective of the time and location of the user. Moreover, cloud-based deployment offers multiple benefits including ease of integration, efficient optimization of business processes, and increased profitability, thereby improving productivity, and competitive advantage. Similarly, cloud-based deployment provides flexible, faster, and low-cost business models along with improved analytics and transparency. The above-mentioned benefits of cloud-based deployment are prime aspects driving its utilization in the deployment of infrastructure monitoring solutions.
Further, the growing trend of digitalization, and the rising need for flexible, economical, and cost-effective infrastructure monitoring solutions are among the major factors fostering the segmental growth of cloud-based infrastructure monitoring solutions.
Additionally, the on premise segment is expected to grow steadily during the forecast period. On-premise deployment refers to the type of deployment in which the data is stored on a company\'s internal servers, and protected by its internal firewall. On-premise deployment enables enterprises to manage and have complete control over its integrations and maintain tighter control over the application\'s security aspects as compared to cloud-based deployments. Furthermore, the benefits of on premise infrastructure monitoring solution deployment including higher security and privacy, lower network bandwidth costs, and more control over server hardware are among the key factors boosting the growth of the on premise segment.
By End Use
The end use segment is divided into civil infrastructure, energy & power, aerospace & defense, oil & gas, mining, and others.
The energy & power segment accounted for a substantial share in the infrastructure monitoring market in 2022. Infrastructure monitoring solutions are mainly deployed in the energy & power sector for applications including area monitoring, detection, and identification of performance issues associated with energy and power plants and its equipment to ensure operational efficiency and safety. Moreover, the deployment of infrastructure monitoring in the energy and power sector also facilitates predictive maintenance and helps in the prevention of explosive on-site accidents and hazards.
Factors including the rising pace of urbanization, increasing global demand for electricity, and rising investments in the expansion of energy & power distribution facilities are major factors driving the growth of the energy & power segment.
For instance, in May 2022, the government of the United States invested USD 2.5 billion in funds with the aim of modernizing and expanding the capacity of the country\'s power grid to deliver clean, economical, and reliable energy. Hence, the growing energy & power industry is further fostering the demand for infrastructure monitoring solutions, owing to its above-mentioned benefits and applications, in turn driving the growth of the segment during the forecast period.
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The North American region is considered to contribute to the largest revenue share in the year 2022. The adoption of infrastructure monitoring solutions in the North American region is primarily driven by its utilization in oil & gas, energy & power, and other sectors. The deployment of infrastructure monitoring solutions in oil & gas and power distribution facilities to monitor and identify performance issues related to plants and its equipment to ensure operational efficiency and safety has been a prevailing factor for market growth in the region.
Additionally, the rising government expenditure in the energy & power sector is a significant factor fostering the market demand in the region. For instance, capital expenditures in the energy sector of Canada were valued at USD 66 billion in 2021. Among the total expenditure, electric power generation and distribution expenditure in Canada accounted for USD 25.3 billion in 2021. The above factors are further boosting the adoption of infrastructure monitoring solutions in the North American region, in turn driving market growth during the forecast period.
The Asia-Pacific region is anticipated to witness substantial growth during the forecast period. The rapid pace of industrialization and development is creating lucrative opportunities for the growth of the market in the region. Moreover, the growth of multiple industries in the Asia-Pacific region such as oil & gas, energy, mining, and others, are contributing to the market growth for infrastructure monitoring solutions in the region.
Infrastructure Monitoring Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the Global Infrastructure Monitoring Market. Key players in the market include-
• National Instruments Corporation
• Campbell Scientific Inc.
• SISGEO SRL
• Structural Monitoring Systems Plc
• Xylem Inc.
• Acellent Technologies Inc.
• Geocomp Corporation
• Geokon Inc.
• AVT Reliability Ltd.
• Infibra Technologies
• In May 2022, Sercel acquired Geocomp Corporation, a U.S. provider of infrastructure monitoring solutions. The acquisition aims at expanding Sercel\'s access to the infrastructure market in the United States and accelerating the deployment of its infrastructure monitoring solutions.