Geotechnical Instrumentation and Monitoring Market is projected to reach USD 5.1 billion by 2026, at a CAGR of 9.6% | Fugro (Netherlands), Keller Group (UK), Nova Metrix LLC (US), Geokon (US), Geocomp Corporation (US)

Geotechnical Instrumentation and Monitoring Market with COVID-19 Impact Analysis by Offering, Networking Technology (Wired, Wireless), Structure (Bridges & Tunnels, Buildings & Utilities, Dams, Others), End User and Geography - Global Forecast to 2026

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The major players in the geotechnical instrumentation and monitoring market are Fugro (Netherlands), Keller Group (UK), Nova Metrix LLC (US), Geokon (US), Geocomp Corporation (US), Sisgeo S.r.l. (Italy), COWI A/S (Denmark), James Fisher and Sons (UK), Deep Excavation LLC (US), and RST Instruments (Canada).

Rising infrastructure investments and the government regulations for sustainable structures could be the driving factors for the growth of geotechnical instrumentation and monitoring market globally

The geotechnical instrumentation and monitoring market is estimated to be worth USD 3.2 billion in 2021 and is projected to reach USD 5.1 billion by 2026, at a CAGR of 9.6%. Rising infrastructure investments, increasing adoption of geotechnical instruments to prevent structural failures, government regulations for sustainable structures and growing awareness about the benefits of instrumentation and monitoring tools are some of the major factors driving the growth of the geotechnical instrumentation and monitoring market. However, high installation and monitoring costs are likely to hinder market growth.

The market for geotechnical instrumentation and monitoring services to account for the largest share during the forecast period

The number of market players offering geotechnical instrumentation and monitoring services is more than the companies offering instruments and software. Various types of instruments needed for geotechnical monitoring include inclinometers, piezometers, extensometers, and sensors among others. The data collected from these instruments is provided to the software for analysis. These solutions help to identify structural damages at an early stage and enable a high degree of structural safety as the stakeholders can take preventive and corrective actions at the earliest to ensure structural safety. Though the hardware and software solutions can be reused after purchase, many companies that purchase these solutions rent them to other companies, which is considered as a service. The presence of many geotechnical instrumentation and monitoring service providers to drive the market growth.

The market for wireless networking technology is estimated to register the highest CAGR between 2021 and 2026 in geotechnical instrumentation and monitoring market

Advancements in technology have led to the development of wireless instruments to which conventional instruments such as strain gauges, piezometers, inclinometers, linear voltage displacement transducers, and accelerometers can be attached for centralized data collection and analysis. The growing demand for wireless networking technologies for geotechnical instrumentation and monitoring is a major factor contributing to the high market growth. However, wired networking technology is expected to hold the largest share of the market owing to the higher adoption of wired instruments for geotechnical monitoring.

Geotechnical instrumentation and monitoring market in the Asia Pacific region is expected to witness a robust growth during 2021-2026

Asia Pacific is expected to register the highest market growth during the forecast period. The major factors driving market growth in this region include the increasing investments associated with infrastructure and the subsequent increase in the number of new infrastructure projects and directives by governments for the compulsory use of geotechnical instrumentation and monitoring for various structures. The growing population in many Asia Pacific countries has led to rapid urbanization which has led to the commencement of several infrastructure projects, providing growth opportunities for market players in the geotechnical instrumentation and monitoring market.

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