Infrastructure Monitoring Market Size, Share, and Trends 2024 to 2033

Infrastructure Monitoring Market (By Component: Hardware, Software, Services; By Technology: Wired, Wireless; By Application: Corrosion Monitoring, Crack Detection, Damage Detection, Vibration Monitoring, Thermal Monitoring, Multimodal Sensing, Strain Monitoring, Others; By Vertical: Oil and Gas, Manufacturing, Aerospace and Defense, Construction, Automotive, Power Generation, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033

  • Last Updated : June 2024
  • Report Code : 4486
  • Category : ICT

Infrastructure Monitoring Market Size and Growth

The global infrastructure monitoring market size was USD 5.03 billion in 2023, calculated at USD 5.59 billion in 2024 and is expected to reach around USD 14.36 billion by 2033, expanding at a CAGR of 11.06% from 2024 to 2033. The infrastructure monitoring market is driven by the growing requirement to guarantee the durability, dependability, and safety of vital infrastructure assets.

Infrastructure Monitoring Market Size 2024 to 2033

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Infrastructure Monitoring Market Key takeaways

  • The North America infrastructure monitoring market size was valued at USD 1.66 billion in 2023 and is predicted to attain around USD 4.81 billion by 2033, at a CAGR of 11.22% from 2024 to 2033.
  • North America dominated the market with the largest revenue share of 33% in 2023.
  • Asia- Pacific is expected to expand at the fastest CAGR of 12.37% during the forecast period.
  • By component, the hardware segment has held a major revenue share of 60% in 2023.
  • By component, the services segment is projected to grow at a solid CAGR of 12% during the forecast period.
  • By technology, the wired segment has contributed more than 58% of revenue share in 2023.
  • By technology, the wireless segment is growing at a notable CAGR of 13.96% during the forecast period.
  • By application, the vibration monitoring segment has held a largest revenue share of 24% in 2023.
  • By application, the damage detection segment is predicted to grow at a remarkable CAGR of 12.36% during the forecast period.
  • By vertical, the construction segment has held a biggest revenue share of 30% in 2023.
  • By vertical, the manufacturing segment is poised to grow at a solid CAGR of 12.53% during the forecast period.

Infrastructure Monitoring Market Size and Growth 2024 to 2033

The U.S. infrastructure monitoring market size reached USD 1.16 billion in 2023 and is expected to be worth around USD 3.39 billion by 2033, at a CAGR of 11.32% from 2024 to 2033.

U.S. Infrastructure Monitoring Market Size 2024 to 2033

North America had dominated in the infrastructure monitoring market in 2023. Large sums of money have long been invested in infrastructure projects in North America in various industries, including telecommunications, electricity, utilities, and transportation. The United States has committed significant financial resources to modernizing and preserving its deteriorating transportation network, which includes highways, bridges, trains, airports, and water systems. Infrastructure monitoring solutions are in high demand due to these investments since they ensure these assets' performance, safety, and dependability.

  • In June 2023, Accenture consented to buy Anser consultancy, a US-based infrastructure project management firm. Accenture's capacity to assist businesses and state and local public sector organizations in completing significant, long-term infrastructure projects more reliably and effectively, projects that foster client growth and positively impact communities, will be strengthened by the acquisition. Accenture's capital project capabilities will be enhanced by this move, which will place the company in an adjacent industry with a potential addressable market of around $88 billion in North America.

Infrastructure Monitoring Market Share, By Region, 2023 (%)

Asia- Pacific is the fastest growing in the infrastructure monitoring market during the forecast period. Technological innovations such as cloud computing, big data analytics, artificial intelligence, and the Internet of Things (IoT) are quickly adopted in Asia-Pacific. These technologies provide real-time data collecting, analysis, and decision-making, essential to contemporary infrastructure monitoring solutions. The need for sophisticated monitoring solutions keeps rising as businesses and governments in the region look to use these technologies to improve the sustainability, dependability, and efficiency of their infrastructure assets. Due to this urban spread, dependable and effective infrastructure systems are required to sustain the growing population.

Adopting monitoring solutions across multiple sectors, including transportation, utilities, and buildings, is driven by the critical role infrastructure monitoring plays in guaranteeing the safety, resilience, and optimal performance of complex urban systems.

Market Overview

Infrastructure monitoring is the act of gathering and evaluating data from IT systems, processes, and infrastructure to enhance business results and create value for the entire company. Monitoring the infrastructure aids in locating errors and the underlying reasons for system malfunctions or decreased performance. By examining metrics and logs, IT teams can identify the root causes of problems, such as hardware malfunctions, software configuration errors, network outages, or application flaws.

Infrastructure Monitoring Market Data and Statistics 

  • In March 2024, the global leader in OT and IoT security, Nozomi Networks Inc., has announced a $100 million Series E fundraising round to support the development of cutting-edge cyber defenses and affordable go-to-market expansion across the globe. Mitsubishi Electric, a world leader in digital manufacturing, electronics, and electrical equipment, and Schneider Electric, a world leader in digital automation and energy management, have invested in this most recent round.

Infrastructure Monitoring Market Growth factors

  • Complex IT infrastructure is becoming increasingly necessary for businesses' functions and offerings. Because of this, monitoring is essential to maintaining proper operation and preventing interruptions.
  • With aging infrastructure and significant weather occurrences, ensuring infrastructure resilience is essential. Monitoring is also essential for early problem diagnosis and preventative maintenance.
  • Real-time data is necessary for organizations to detect problems early on and take proactive measures to rectify them. System monitoring tools offer ongoing insights into the system's functionality and health.
  • The demand for monitoring tools with enhanced security features and damage detection capabilities is driven by the need for preventative actions and the rise in security threats.
  • The move to cloud-based infrastructure calls for specific monitoring solutions for cloud settings to maximize resource allocation and performance.

Infrastructure Monitoring Market Scope

Report Coverage Details
Market Size by 2033 USD 14.36 Billion
Market Size in 2023 USD 5.03 Billion
Market Size in 2024 USD 5.59 Billion
Market Growth Rate CAGR of 4.63% from 2024 to 2033
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered Component, Technology, Application, Vertical and Regions
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa


Infrastructure Monitoring Market Dynamics

Driver

Development in the cities, telecom industries, and IT sectors

Due to the global urbanization trend, cities are growing and updating their infrastructure to accommodate increased populations and improve quality of life. Buildings, roads, bridges, and utilities like waste management and water supply systems are all included in this. Cities depend increasingly on sophisticated monitoring systems to guarantee the sustainability, dependability, and safety of their infrastructure as they work to become smarter and more efficient.

These systems use sensors, Internet of Things (IoT) gadgets, and data analytics to track vital asset performance and condition over time, identify problems or breakdowns, and streamline maintenance and repair procedures. Thus, the requirement to efficiently manage and maintain the intricate infrastructure of contemporary metropolitan areas drives the demand for such monitoring solutions. This drives the growth of the infrastructure monitoring market.

Restraint

High installation costs of the monitoring systems

It is frequently necessary for infrastructure monitoring systems to relate to the current infrastructure, which includes utility networks, buildings, highways, and bridges. This integration procedure necessitates specific physical infrastructure and monitoring technology knowledge, which can be labor-intensive and complex. The intricacy raises the overall installation cost because qualified workers and engineers must ensure functional and proper installation. Lastly, the potential advantages of monitoring systems in terms of increased safety, operational effectiveness, and risk mitigation must be evaluated against their high installation costs.  This limits the growth of the infrastructure monitoring market.

The market for infrastructure monitoring may not expand if project stakeholders choose less costly or alternative monitoring options because they believe the benefits will not outweigh the required upfront expenditure.

Opportunity

Improvement and customization of services for infrastructure monitoring software

Infrastructure monitoring involves more than just gathering data; it also entails analyzing it to draw actionable conclusions supporting well-informed choices. Enhancing analytical skills like predictive analytics, anomaly identification, and root cause analysis might be the main emphasis of improvement services. Monitoring systems can assist firms in proactively identifying and addressing issues before they become more significant by giving them actionable real-time insights. Organizations in all sectors now place a high premium on security and compliance due to increased cybersecurity risks.

Enhancing the security elements of monitoring solutions, such as encryption, access controls, and threat detection, might be the main emphasis of improvement services. Due to customization, organizations can apply certain security rules and compliance standards, guaranteeing that their infrastructure is safe and complies with legal requirements. This opens an opportunity for the growth of the infrastructure monitoring market.

Component Insights 

The hardware segment dominated in the infrastructure monitoring market in 2023. The dominance of the hardware market can be attributed mainly to the widespread use of smart gadgets. Consumers are adopting more and more connected gadgets due to the introduction of IoT (Internet of Things) technology to improve convenience, efficiency, and automation in their daily lives. Hardware producers now have significant growth prospects due to the spike in demand for smart gadgets. Smartwatches, fitness trackers, and augmented reality glasses are examples of wearable technology that have become widely popular because they blend in with users' daily lives and offer valuable features and insights.

Hardware producers have jumped at the chance to cash in on the booming market for wearables by launching cutting-edge, feature-rich products that satisfy a wide range of customer requirements and tastes.

The services segment shows a significant growth in the infrastructure monitoring market during the forecast period. Businesses' infrastructures get more sophisticated as they develop and digitize their activities. Because of this complexity, effective monitoring and managing numerous components requires specialist expertise. Service providers draw in companies looking for help managing their infrastructure efficiently because they give the knowledge and tools needed to negotiate this complex terrain.

Technology Insights 

The wired segment dominated in the infrastructure monitoring market in 2023. Systems for monitoring wired infrastructure are solid and stable, which makes them perfect for essential applications where reliable data transfer is crucial. Wired systems are less vulnerable to interference, signal loss, and environmental conditions that could interfere with data transfer than their wireless counterparts. Since downtime can result in significant losses, this reliability is critical in the manufacturing, telecommunications, and energy sectors. Wireless connections often offer more bandwidth and quicker data transfer rates than wireless technology.

Infrastructure Monitoring Market Share, By Technology, 2023 (%)

Applications for infrastructure monitoring that require real-time data gathering, analysis, and control depend on this benefit. Smart cities, utilities, and the transportation sector depend on fast data transmission for effective operations and prompt decision-making.

The wireless segment is the fastest growing in the infrastructure monitoring market during the forecast period. Wireless infrastructure monitoring systems help stakeholders monitor the condition and functionality of vital assets from a distance in real-time. Because instantaneous access to data, proactive decision-making and quick responses to possible problems or anomalies are possible, which minimizes downtime, lowers risk, and improves asset performance. Wireless infrastructure monitoring is incredibly flexible and can be used in a wide range of industries, such as manufacturing, construction, utilities, and transportation.

Wireless sensors can be used in manufacturing to enhance equipment performance and reduce costly downtime through predictive maintenance or in transportation to monitor the structural health of bridges and tunnels. The wireless segment of the infrastructure monitoring market has experienced significant adoption and growth due to its extensive applicability across many industries.

Application Insights 

The vibration monitoring segment dominated in the infrastructure monitoring market in 2023.Considering the growing worldwide concern over aging infrastructure, there is a greater emphasis on monitoring the condition and integrity of constructions like buildings, bridges, dams, and tunnels. Vibration monitoring is essential for evaluating an organization's structural health by identifying anomalies like cracks, deformations, or material fatigue that may jeopardize safety. Even though vibration monitoring systems have a substantial upfront cost, the long-term financial advantages greatly exceed the costs.

With proactive maintenance based on real-time data, infrastructure assets can be made longer, downtime can be decreased, and the likelihood of catastrophic breakdowns can be decreased. Implementing vibration monitoring as a preventive measure is justified by the return on investment (ROI) from preventing expensive repairs or replacements.

The damage detection segment shows a significant growth in the infrastructure monitoring market during the forecast period. Infrastructure management now prioritizes safety, particularly after high-profile incidents and catastrophes. Governments, regulatory agencies, and stakeholders are increasingly emphasizing the significance of routine inspections and monitoring to guarantee the structural integrity of bridges, roads, dams, buildings, and other vital infrastructure assets. Stricter rules and guidelines are being implemented by governments and regulatory agencies across the globe regarding infrastructure upkeep and safety.

Adopting cutting-edge damage detection technologies is frequently necessary to comply with these rules and meet the required reporting and monitoring requirements. The infrastructure monitoring market's damage detection segment is expanding mainly due to the regulatory environment.

Vertical Insights

The construction segment dominated the infrastructure monitoring market in 2023. Global infrastructure development projects have increased unprecedentedly due to population growth and urbanization. These initiatives cover various industries, including utilities, telecommunications, energy, and transportation. Robust monitoring technologies are necessary to guarantee these infrastructures' safety, stability, and longevity as building activities increase. The monitoring and management of infrastructure assets have been completely transformed by the Internet of Things (IoT) and sensor technologies.

These technologies make real-time data gathering, analysis, and visualization possible, enabling stakeholders to act quickly and decisively. Construction organizations use IoT and sensor-based monitoring solutions to improve project visibility, maximize resource usage, and reduce downtime.

The manufacturing segment is the fastest growing in the infrastructure monitoring market during the forecast period. Manufacturers can use preventive maintenance procedures thanks to infrastructure monitoring technologies. By regularly checking machinery, production lines, and other infrastructure, manufacturers can identify possible problems before they become costly breakdowns or downtime. In the competitive manufacturing sector, this preventive strategy eliminates unplanned outages, lowers maintenance costs, and increases operational uptime. Infrastructure monitoring systems are becoming increasingly scalable and configurable, enabling manufacturers to expand them according to their changing needs and customize them to their exact specifications.

Manufacturers can use modular monitoring solutions to monitor inventory levels, check energy consumption, and keep an eye on equipment status. These solutions can be tailored to meet specific operational difficulties and growth objectives.

Infrastructure Monitoring Companies

Recent Developments 

  • In January 2024, through its acquisition of Global Infrastructure Partners (GIP), the largest independent infrastructure manager in the world with over $100 billion in assets under management, BlackRock, one of the biggest global asset management businesses, is placing a bet on infrastructure.
  • In November 2023, the company Grafana Labs, which created the most widely used, open, and modular operational dashboards globally, has revealed new features for Grafana Cloud that are aimed at Kubernetes platform teams who want to lower their cloud expenses and obtain more cohesive monitoring experiences for their whole cloud-native infrastructure.
  • In August 2023, Datadog, another York-based company that provides cloud observability for infrastructure and enterprise apps, added additional features to its core platform. The business unveiled Bits, a cutting-edge generative AI assistant that assists engineers in resolving application problems in real time, at its yearly DASH conference. Moreover, it provides a comprehensive approach to tracking the actions of massive language models (LLMs).

Infrastructure Monitoring Market Companies

  • Acellent Technologies, Inc.
  • Parker Hannifin
  • Siemens AG
  • Emerson Electric
  • Digitex Systems
  • General Electric
  • Campbell Scientific, Inc.
  • National Instruments
  • Yokogawa Electric Corporation
  • Honeywell
  • Rockwell Automation
  • AVT Reliability Ltd.
  • Bridge Diagnostics, Inc. (BDI)

Segments Covered in the Report

By Component

  • Hardware
  • Software
  • Services

By Technology

  • Wired
  • Wireless

By Application

  • Corrosion Monitoring
  • Crack Detection
  • Damage Detection
  • Vibration Monitoring
  • Thermal Monitoring
  • Multimodal Sensing
  • Strain Monitoring
  • Others

By Vertical

  • Oil & Gas
  • Manufacturing
  • Aerospace and Defense
  • Construction
  • Automotive
  • Power Generation
  • Others

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Frequently Asked Questions

The global infrastructure monitoring market size is expected to increase USD 14.36 billion by 2033 from USD 5.03 billion in 2023.

The global infrastructure monitoring market will register growth rate of 11.06% between 2024 and 2033.

The major players operating in the infrastructure monitoring market are Acellent Technologies, Inc., Parker Hannifin, Siemens AG, Emerson Electric, Digitex Systems, General Electric, Campbell Scientific, Inc., National Instruments, Yokogawa Electric Corporation, Honeywell, Rockwell Automation, AVT Reliability Ltd, Bridge Diagnostics, Inc. (BDI) and Others.

The driving factors of the infrastructure monitoring market are the development in the cities, telecom industries, and IT sectors.

North America region will lead the global infrastructure monitoring market during the forecast period 2024 to 2033.

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