Infrastructure Inspection Market Share, Trends And Growth Analysis Report 2024

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Infrastructure Inspection Market Share, Trends And Growth Analysis Report 2024

The Infrastructure Inspection Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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According to The Business Research Company’s Infrastructure Inspection Global Market Report 2024, the infrastructure inspection market has witnessed robust growth in recent years, surging from $2.05 billion in 2024 to $2.19 billion in 2024, boasting a compound annual growth rate (CAGR) of 7.1%. This expansion in the historical context stems from various factors including aging infrastructure, regulatory compliance imperatives, cost optimization initiatives, efficiency enhancements, and heightened attention to environmental considerations.

Projections indicate that the infrastructure inspection market will continue its upward trajectory, reaching $2.93 billion by 2028, marked by a compound annual growth rate (CAGR) of 7.5%. The forecasted surge owes much to the emergence of remote inspection solutions, an amplified focus on sustainability endeavors, heightened emphasis on cybersecurity measures, and the adoption of predictive maintenance solutions. Noteworthy trends anticipated in the forecast period include the advancement of drone technologies, ongoing technological innovations, the implementation of augmented safety protocols, and the integration of automation for streamlined operational efficiency.

The surge in capital investments for structural health monitoring to ensure better maintenance of critical infrastructure is expected to propel the growth of the infrastructure inspection market going forward. Structural health monitoring (SHM) is a set of systems that are installed on full-scale civil infrastructures to assist and inform operators. To ensure structural integrity, ageing bridges, highways, buildings, dams, pylons, tunnels, and other structures are inspected. For instance, in March 2022, according to a report by Govtribe, a US-based company that focuses on government contractors and provides a real-time resource locator, the Federal Government granted the opportunity to Engineer Research and Development Centre (ERDC) for innovative technologies in structural health monitoring to advance structural health monitoring (SHM) technologies and assess the current and future condition and reliability of infrastructure components and systems. The first year was allocated $2 million, with a total budget of $12 million. Therefore, the surge in capital investments for structural health monitoring is driving the infrastructure inspection market growth.

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The infrastructure inspection market covered in this report is segmented –

1) By Product Type: Drones, or Unmanned Aerial Vehicles (UAVs), Crawlers, Submersibles

2) By Operation: Autonomous, Semi-Autonomous

3) By Application: Pipes, Tanks and Vessels, Sewers, Roads and Bridges, Underwater Inspection, Wind Turbines, Nuclear Applications, Auxiliary Structures

4) By End-Use: Building and Construction, Oil and Gas, Power Generation, Chemical, Petrochemical, Municipal, General Purpose

Key players within the infrastructure inspection domain are increasingly gravitating towards strategic collaborations to furnish clientele with dependable services. Strategic collaboration epitomizes a symbiotic alliance among two or more autonomous entities, united in their pursuit of shared objectives aligned with individual strategic imperatives. A compelling case in point is the collaboration between Infotech, a US-based purveyor of e-construction solutions, and Seiler Geospatial, a US-based stalwart in optical instrument design, manufacturing, and servicing, forged in July 2024 to spearhead civil infrastructure projects. This partnership stands as a pivotal milestone in the digital transformation of the infrastructure construction sector. Leveraging their collective proficiencies and cutting-edge technologies, Infotech and Seiler Geospatial are facilitating more expedient, precise, and cost-efficient inspections, thus fostering superior quality infrastructure undertakings.

The infrastructure inspection market report table of contents includes:

1. Executive Summary

2. Infrastructure Inspection Market Characteristics

3. Infrastructure Inspection Market Trends And Strategies

4. Infrastructure Inspection Market - Macro Economic Scenario

5. Global Infrastructure Inspection Market Size and Growth

......

32. Global Infrastructure Inspection Market Competitive Benchmarking

33. Global Infrastructure Inspection Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Infrastructure Inspection Market

35. Infrastructure Inspection Market Future Outlook and Potential Analysis

36. Appendix

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