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Geotechnical Instrumentation and Monitoring (GTIM) Market Size, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3913

Geotechnical Instrumentation and Monitoring (GTIM) Market size is set to observe prolific growth from 2021 to 2027 owing to the mounting investments in infrastructures across the globe. The rising government support along with the robust economic growth and urbanization, specifically in the emerging countries has given way for the higher developments in the construction sector. Geotechnical instrumentation and monitoring are mainly remedial methods that fix the failures pertaining to geotechnical infrastructure.
 

The surge in the number of oil & gas investments coupled with the consistent concerns over the failure of geotechnical facilities as well as the safety and security of the mining operations in mining companies will act as promising drivers for the industry growth. Factors such as the dearth of skilled labor, and the higher installation costs may however negatively influence the market progression.
 

In terms of components, the GTIM market is bifurcated into hardware, software, and service segments. Among these, the services segment will grow with increasing demand for the monitoring of rail/road, metros & sewer tunnels, groundwater levels, soft soil as well as nuclear power plants. The growing government support has led to the higher need for the monitoring of the critical structures across the energy & power sector. The surging requirement for web data monitoring services (WDMS) is another impact rendering trend for the industry expansion.

 

Building & infrastructure applications of the GTIM market will witness expansion driven by the soaring need for regular monitoring of dams, bridges, tunnels, and buildings. The significant surge in the awareness of the techniques has steered their adoption for real-time monitoring and accurate data. The mount in the number of infrastructure projects across the world will also drive the segment growth.
 

Regionally, Asia Pacific geotechnical instrumentation and monitoring market will gain momentum with higher application scope in tunnels & bridges. The growing need for modernizing the existing infrastructure and the rapid industrialization in the region has led to higher government spending. Increasing deployment in the construction, energy & power, mining, and oil & gas sectors will additionally favor the regional market progression.
 

North America is anticipated to account for a significant GTIM industry remuneration due to the presence of stringent government frameworks for infrastructural development. This has led to the rise in the number of investments for under-construction as well as planned infrastructure projects. The higher obligation for monitoring the structural well-being of the buildings will lead to enhanced market growth in the region.
 

Prominent GTIM market players are actively working towards technological advancements apart from investments, capacity expansions, acquisitions, and mergers to reinforce their geographical presence whilst sustaining the escalating competition.
 

Innovative Geotechnical Instrumentation, Monitoring Solution Providers Pte Ltd., Durham Geo-Enterprises, Inc. (Nova Metrix LLC), Petra Geosciences, Inc., Quantum Geotechnical, Deep Excavation LLC, Wardle Drilling & Geotechnical Ltd., GEI Consultants, Geokon Incorporated, Sisgeo SRL, COWI A/S (COWI Holding A/S), Nova Metrix LLC (NOVA Scientific, Inc.), WJ Groundwater Ltd., Geocomp Corporation, James Fisher and Sons, and Fugro N.V. are the major companies operating in the business space.
 

Effect of the COVID-19 outbreak on the GTIM market forecast 

The ongoing COVID-19 pandemic significantly impacted the global economy owing to the regulation of the lockdown and social distancing policies. The adoption of the geotechnical instrumentation and monitoring techniques also witnessed a dip due to the roadblocks projected on the infrastructure sector, given the delayed investments and construction projects. This stemmed from the minimal industrial activities and the disrupted supply chains of raw materials. However, with most of the business operations picking up pace, the industry is expected to grow.
 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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