Increasing demand for real-time monitoring driving growth of Geotechnical Instrumentation and Monitoring Market


Posted February 14, 2023 by avinashgogawale14

The Geotechnical Instrumentation and Monitoring Market is anticipated to reach USD 5.1 billion by 2026 at a CAGR of 9.6% from an estimated value of USD 3.2 billion in 2021.

 
The Geotechnical Instrumentation and Monitoring Market is anticipated to reach USD 5.1 billion by 2026 at a CAGR of 9.6% from an estimated value of USD 3.2 billion in 2021. Growing government requirements for sustainable structures, rising infrastructure investments, growing geotechnical instrument usage to prevent structural failures, and rising instrumentation and monitoring tool awareness are some of the key reasons driving market expansion globally.

Rising infrastructure investments

Developed infrastructure significantly contributes to improved productivity, leading to economic growth and the well-being of the people in many ways. Superior infrastructure facilitates improved productivity in the public and private sectors and is important for regional development. Most countries around the world focus extensively on infrastructure development through heavy investments. A substantial increase in public and private spending on infrastructure development globally is expected to drive the growth of the geotechnical instrumentation and monitoring market.

Key Players

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).

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To improve its position in the market, Fugro (Netherlands) engages in a number of Geotechnical Instrumentation and Monitoring projects. For the Tiel-Waardenburg Dike reinforcement project, for instance, Fugro was given a design, soil study, and monitoring contract in August 2021. The project's area of work for Fugros comprises design services, consulting, soil testing, and construction management, among other things. The business places a strong emphasis on inorganic growth tactics, such partnerships, to expand into new areas. To supply wind geotechnical services in Japan, for instance, Fugro teamed with NYK Group (Japan) in November 2020. Both businesses will be able to offer top-notch geotechnical services in Japan thanks to Fugro's expertise in offshore wind geotechnical services and NYK Group's understanding of the Japanese market. With offices spread over 61 nations, the company is a market leader that provides instrumentation and monitoring services such monitoring system design, procurement and supply, installation and testing, baseline reading and monitoring, and data presentation. The numerous services provided by Fugro have applications in the infrastructure, renewable energy, maritime, and other industries.

Through companies like Geo-Instruments (UK) and GeTec Ingenieurgesellschaft (Germany), Keller Group (UK) engages in geotechnical instrumentation and monitoring market business. These subsidiaries offer services such rail track monitoring, vibration monitoring, excavation monitoring, and geotechnical software services. Geo-Instruments specialises in geotechnical instrumentation and monitoring services and technologies. The business concentrates on inorganic expansion tactics like acquisitions and provides a wide range of geotechnical services to its clients. For instance, Recon Services (US), a provider of geotechnical and industrial services, was acquired by Keller Group in July 2021. The company expanded its offering of geotechnical services with this acquisition. The Keller Group is a significant competitor in the market thanks to its strong regional presence and capacity to provide solutions at affordable prices. Similar to this, the business declared in June 2018 that it had acquired the piling company Sivenmark Maskintjanst AB. The goal of the acquisition was to improve Keller's steel piling service capabilities.

In order to improve its position in the geotechnical instrumentation and monitoring market, Nova Metrix LLC (US) purchased a number of businesses. Durham Geo Slope-Enterprises, Inc. (DGSI), Roctest Ltd., Sensornet Ltd., Sherborne Sensors Ltd., Soil Instruments Ltd., Westbay Instruments, Waterloo Hydrogeologic, and Van Essen Instruments B.V. are a few of the company's subsidiaries. These businesses work together to offer consumers tools and services for a range of geotechnical applications. To advertise its line of services, the company has taken part in a number of conferences. The company's broad product line is extensive in scope, and the services it provides vary depending on the intended use. With a presence in more than 90 countries, Nova Metrix LLC has a significant international footprint.

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Piezometers, inclinometers, strain gauges, tiltmeters, and pressure cells are just a few of the instruments offered by Geokon (US) that can be utilised for a variety of geotechnical applications. The corporation places a strong emphasis on R&D operations to create cutting-edge and novel products. It has a well-known brand and a significant international footprint, with sales support and system integration centres spread throughout numerous nations. The business places a strong emphasis on product development as a growth strategy. For instance, in March 2021 Geokon introduced the GeoNet 8900 Series, a wireless, low power data acquisition system that gathers data from sensors and offers safe access to examine the data on the company's platforms and the internet. Similar to this, the business introduced the GK-406, a vibrating wire analyzer, in June 2020. This gadget reads data even in challenging conditions thanks to spectral analysis technology.

Numerous cutting-edge services are provided by Geocomp Corporation (US), including web-based monitoring solutions, vibration and data analytics, and predictive modelling for risk assessment. In addition to hardware and software solutions for monitoring structures, the company also offers leasing services. The company specialises in creating instrumentation solutions for dam monitoring, maintenance, and inspection. In order to reduce hazards associated with structures, the company also works on combining cutting-edge software solutions with new technology. To assist customers in identifying and managing risk related to the design, building, and operation of infrastructure in both natural and constructed environments, the company offers comprehensive products and allied services. The company is a significant player in the Geotechnical Instrumentation and Monitoring Market thanks to its cutting-edge and ground-breaking products.

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Last Updated February 14, 2023