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Published: July 2016
Report Code: IM10696
Category : Automation
The global internet of things (IoT) market for structure monitoring is increasing with the growing numbers of smart buildings. The smart buildings require efficient infrastructure and storage for the information generated through the cluster of technology exploiting different bandwidths. The IoT technology offers an array of solutions to several organizations that seek to improve the quality of life and well-being. The surging urbanization and continuous development in the infrastructure has been the major macroeconomic factors driving the growth of the IoT in structure monitoring market.
GLOBAL IOT MARKET IN STRUCTURE MONITORING BY SOLUTION $M (2013–2023)
With the advent of smart construction technologies, its applications such as building automation, physical security and energy management has being widely adopted globally. The IoT technology can potentially enhance the overall quality of building structures including their safety, security, and efficiency levels. Structure monitoring refers to the detection of damage and implementation of strategies for engineering structures such as buildings, bridges, ports and platforms. They provide rapid condition screening and aims to provide reliable data and information regarding the integrity of structure in real time. The structure monitoring concept deals with overall health monitoring and operational evaluation of the structures. It is designed for the efficiency of all components of the structure, such as lighting, monitoring, safety and security, emergency systems, heating, ventilation and other aspects. It improves the life span of a building by identifying problem and when they occur, thereby taking required corrective measures through one platform. The smart buildings through IoT are able to respond to information generated through the network of sensors across the city to adjust the ventilation and window settings on the basis of cross-referencing of pollution levels and the weather conditions.
The demand for IoT in structure monitoring is increasing due to increasing energy cost and government initiatives. The major factors driving the growth of the IoT in structure monitoring market includes ability to reduce the carbon dioxide emission from structures, minimize their maintenance and operating costs, enhancing the life of the structure and improving other aspects for the users’ convenience. Several public structures including bridges and dams require continuous remote monitoring, which is done through equipping them with various types of sensors. The surge in global warming is one of the secondary factors augmenting the growth of the IoT in structure monitoring market. The government initiative towards the structure monitoring is also playing a vital role for the growth of the market. The target of the U.S. Government under its Commercial Building Initiatives (CBI) is one of the steps to make commercial buildings, bridges completely energy independent by 2025. Europe is also taking several measures to promote green building installation and renovation. The declining cost of instrumentation in monitoring the structures is expected to provide growth opportunity in the global IoT in structure monitoring market.
The major companies operating in the global IoT in Structure Monitoring market include ABB Ltd, Siemens AG, Schneider Electric SE, Cisco Systems Inc., Delta Controls, Accenture, General Electric, IBM Corporation, Honeywell International Inc., and Johnson Controls Inc.
The research offers actual historical market size of global Internet of Things (IoT) market in structure monitoring for the period 2012 – 2015 and market forecast for the period 2016 - 2022 in $ million. The market size breakdown is as follows:
GLOBAL IOT MARKET IN STRUCTURE MONITORING
GLOBAL IOT MARKET IN STRUCTURE MONITORING, BY GEOGRAPHY
North America IoT Market in Structure Monitoring
Europe IoT Market in Structure Monitoring
Asia-Pacific IoT Market in Structure Monitoring
Latin America IoT Market in Structure Monitoring
Middle East and Africa (MEA) IoT Market in Structure Monitoring
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