IoT Market in Structure Monitoring to Witness Double Digit Growth


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 Intelligence.



Insights on Market Segments

As per the findings of the research, device management for structure monitoring through IoT will witness a robust growth during the forecast period. However, physical security system has been the larger revenue generator in this market, as compared to other solutions offered. Among the various platforms used in IoT for structure monitoring, application management is expected to continue contributing the largest revenue during the forecast period. Also, IoT in structure monitoring will be witnessing fastest growth in demand for applications in bridges, during 2013 - 2016. On the other hand, market for buildings is also expected to show a robust growth during the forecast period.

The global IoT market in structure monitoring is expected to reach a size of $235.3 billion by 2022, growing at a CAGR of 24.2% during 2017 – 2022. With the rising incidence of natural calamity and disasters, the earthquake monitoring system is anticipated to witness the fastest growth during the forecast period. Also, the rising number of vehicles are putting tremendous pressure on the existing and upcoming infrastructures to accommodate the ever-growing vehicles, which depicts the need of effective parking management system through IoT. 

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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.

Market 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


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.

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