Infrastructure Monitoring Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2030)

Based on the Component :

The component segment is trifurcated into hardware, software, and service. The hardware component accounted for the largest market share of 46.7% in 2022 as majority of the organizations rely on legacy systems and on-premises hardware for the IT infrastructure. The systems require hardware-based monitoring solutions to effectively track and manage the performance, thus contributing significantly in driving the proliferation of the hardware segment. Additionally, hardware-based monitoring solutions are perceived as more reliable and robust, especially for critical infrastructure components. Various organizations prefer physical monitoring devices namely network probes and sensors, to ensure continuous monitoring even during network outages. Analysis of market trends concludes that hardware-based monitoring solutions offer a higher degree of customization and control, hence contributing notably in spurring the expansion of the hardware segment.

Services are predicted to witness the fastest CAGR in the infrastructure monitoring market during the forecast period. The growth of the market is attributed to the emergence of advanced managed services that offer improved monitoring solutions and proactive issue resolution, driving the demand for managed services. Additionally, organizations are seeking consulting and professional services to assess the existing monitoring strategies, identify gaps, and implement best practices. Analysis of market trends concludes that the emergence of cloud-based monitoring services offers scalability, accessibility, and the ability to monitor distributed cloud resources is further contributing to market proliferation. For instance, in July 2023, VMware, Inc. introduced advanced cloud monitoring services to easily scale and access the distributed cloud resources. The introduction of advanced cloud-based services offering improved proactive fault resolution is, thus contributing remarkably in bolstering the expansionf of the services segment.

Based on the Technology :

The technology segment is bifurcated into wired and wireless. In 2022, the Wireless segment accounted for the highest infrastructure monitoring market share as wireless systems have lower maintenance costs compared to wired systems. Analysis of market trends concludes that wireless monitoring solutions eliminate the need for periodic cable checks and reduces the risk of cable damage or failure, resulting in cost savings over time. Moreover, wireless monitoring provides real-time data transmission and facilitates remote monitoring capabilities, enabling organizations to monitor from distant locations without being physically present. Furthermore, wireless monitoring solutions consume less energy, reducing the environmental impact and thus becoming a more sustainable option as compared to wired infrastructure. In conclusion, the aforementioned factors are collectively responsible in bolstering the infrastructure monitoring market growth.

Based on the Application :

The application segment is categorized into corrosion monitoring, erosion monitoring, crack detection, damage detection, multimodal sensing, drought monitoring, strain monitoring, thermal monitoring, vibration monitoring, and others. Vibration monitoring accounted for the largest market share in 2022 owing to the increased installation of vibration sensors to detect and analyze vibrations caused by external forces including traffic, wind, or seismic events. The continuous monitoring of vibrations enables engineers to identify potential structural issues, measure the impact of external loads, and ensure the safety and longevity of the infrastructure. Additionally, vibration monitoring is extensively employed in industrial settings to assess the health of machinery and equipment. Sensors are installed on rotating machinery namely motors, pumps, turbines, and compressors to detect abnormal vibrations that indicate misalignment, imbalance, wear, or other mechanical faults. Subsequently, the aforementioned factors are contributing notably in propelling the proliferation of the vibration monitoring segment.

Drought monitoring segment is expected to witness the fastest CAGR in the infrastructure monitoring market during the forecast period. The expansion of the market is attributed to the increasing demand for real-time weather updates from water resources authorities and agriculture industry to monitor and manage drought. Additionally, the increasing occurrence of droughts affects millions of people and causes havoc economic damage, further contributes to the proliferation of the drought monitoring segment. For instance, in August 2022, International Water Management Institute (IWMI) introduced the next generation of South Asia Drought Monitoring System (SADMS) in collaboration with Indian Council of Agricultural Research (ICAR). The system was launched to address the existing challenges of drought management and provide a framework for active drought mitigation methods across South Asia.

Based on the End-User :

The end-user segment is classified into aerospace and defense, manufacturing, mining, power generation, civil infrastructure, and others. Civil infrastructure accounted for the largest market share in 2022 as the monitoring solutions are utilized to assess the health and structural integrity of bridges. Sensors are deployed to monitor parameters including vibrations, strain, deflection, and temperature. Continuous monitoring helps to detect signs of deterioration, settlement, and damage, enabling prompt maintenance and preventing potential accidents. Additionally, the monitoring solutions systems track parameters namely settlement, deformation, and water ingress. Early detection of potential issues allows authorities to take corrective actions to prevent tunnel failures and disruptions. Moreover, sensors are employed to monitor parameters including dam displacement, seepage, and water levels, allowing for timely interventions to prevent catastrophic dam failures. Subsequently, the aforementioned factors are collectively responsible for driving the proliferation of the civil infrastructure segment.

The power generation segment is anticipated to witness the fastest CAGR in the infrastructure monitoring market during the forecast period. The monitoring solutions are used in power plants, including thermal, nuclear, hydroelectric, and renewable energy plants. Sensors monitor equipment namely turbines, generators, and boilers to detect anomalies and predict maintenance needs. Continuous monitoring helps to optimize plant performance, reduce downtime, and enhance operational efficiency. Additionally, the monitoring solutions are also employed in distribution networks to assess the condition of transformers, substations, and distribution lines. Monitoring systems detect voltage fluctuations, line faults, and equipment failures, enabling rapid response and minimizing service disruptions. Analysis of market trends concludes that the increasing number of nuclear power plants is contributing considerably in bolstering the proliferation of the power generation segment. For instance, according to International Atomic Energy Agency, 410 nuclear power plants are in operation worldwide, generating 368,610 megawatts of electricity. In addition, 57 nuclear power reactors are under construction, generating 59,091 megawatts of capacity, thus contributing notably in fueling the market expansion.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America accounted for the largest revenue share of USD 3,431.05 million in 2022 and is predicted to reach USD 5,782.32 million in 2030 in the infrastructure monitoring market. In addition, in the region, the U.S. accounted for the maximum revenue share of 57.60% in the year 2022. Analysis of infrastructure monitoring market trends concludes that the growth is attributed to the large and diverse market with a wide range of industries including IT, telecommunications, energy, transportation, and construction. Industries have significant monitoring needs, driving the demand for monitoring solutions. Additionally, the region has a substantial investment in infrastructure development and maintenance. The high investment creates a strong emphasis on ensuring the reliability, safety, and efficiency of critical infrastructure assets, leading to higher adoption of monitoring technologies. Moreover, the region has a robust IT and communication infrastructure that supports the implementation and integration of advanced monitoring systems. The availability of high-speed internet and connectivity enhances the feasibility of real-time monitoring and data analytics, thus contributing significantly in accelerating the market growth in the region.

Asia Pacific is expected to register the fastest CAGR of 7.3% in the infrastructure monitoring market. The growth is endorsed by the increasing investment by governments and private enterprises in transportation, energy, and construction projects, driving the demand for monitoring solutions to ensure the safety and efficiency of the developments. The infrastructure monitoring market analysis concluded that the increasing reliance on nuclear plants for the generation of electricity is further contributing to market proliferation. For instance, in April 2023, according to World Nuclear Association, Asia is the major global region with maximum electricity generation through nuclear power plants. Asia encompasses, 140 operable nuclear power reactors and approximately 30-35 nuclear power reactors are under construction, with China leading the position with 55 operable reactors, followed by Japan with 33 operable reactors.