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Global IoT Market in Structure Monitoring is expected to grow at a CAGR of 24.2% during 2017 - 2022LONDON, Nov. 14, 2017 /PRNewswire/ -- Global IoT Market in Structure Monitoring is expected to grow at a CAGR of 24.2% during 2017 – 2022, according to new market research report published by P&S Market Research. The demand of physical security is witnessing rapid growth in building surveillance system. Also, increasing urbanization, in addition to the growing penetration of maintenance and repair activities in bridges in developing countries, is expected to bolster the demand of IoT in structure monitoring during the forecast period. Growing demand of smart infrastructure across the globe pushing its demand The increasing investment in smart infrastructure by governments across various countries, is one of the prime factors for the growth of the market. The increased investment in access control system, along with large capital funding for safety & alarming system in developing countries, is further assisting the market growth. Recently, the government of India started digital India initiative, under which 100 smart cities will be formed across the country, which will adopt latest technologies for structure monitoring. The government, along with the private sector companies, is expected to invest heavily in improvising infrastructure health in the country, during the next five to six years. Rapid expansion in infrastructure, coupled with rising awareness towards damage detection, is fueling the demand for structure monitoring. Decline in price of devices used to check the infrastructures' health, is further aggravating the IoT market in structure monitoring. Earlier, in developing countries, infrastructure companies had budget constraint, as a result of which, manual inspection of structures were performed. In the present context, lowering down of cost and increased availability of sensors is anticipated to bolster its demand. Furthermore, minimal maintenance cost of the monitoring system has been encouraging the infrastructure companies to adopt such solutions. Highly consolidated global market The global IoT market in structure monitoring was consolidated in 2016, wherein the top five players accounted for majority of the market revenue. Johnson Control Inc. was the global market leader in 2016, while the other major companies operating in this market are Cisco Systems Inc., IBM Corporation, General Electric, Honeywell International Inc, Schneider Electric SE, ABB Ltd, and Delta Control Inc. GLOBAL IoT MARKET IN STRUCTURE MONITORING SEGMENTATION By Solution Physical Security System Energy Management System Building Communication System Parking Management System Plumbing & Water Management Elevators & Escalator Management Earthquake Monitoring System By Platform Device Management Network Management Application Management By Component Hardware Software Services By Application Buildings Bridges Others By Geography North America By Solution By Platform By Component By Application By Country The U.S Canada Rest of North America Europe By Solution By Platform By Component By Application By Country Germany France The U.K Rest of Europe Asia-Pacific By Solution By Platform By Component By Application By Country Japan China Australia Rest of Asia-Pacific MEA By Solution By Platform By Component By Application By Country U.A.E Saudi Arabia Russia Rest of MEA Download the full report: https://www.reportbuyer.com/product/5200516 About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers https://www.reportbuyer.com For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +44 208 816 85 48 Website: www.reportbuyer.com View original content:http://www.prnewswire.com/news-releases/global-iot-market-in-structure-monitoring-is-expected-to-grow-at-a-cagr-of-242-during-2017--2022-300556273.html SOURCE ReportBuyer |