Global $235 Billion IoT Market in Structure Monitoring 2017-2022 - Integration of Complex IOT Hardware and Software

DUBLIN, November 17, 2017 /PRNewswire/ --

The "IoT Market in Structure Monitoring by Solution: Analysis and Forecast 2022" report has been added to Research and Markets' offering.

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. Among various application areas, the IoT in structure monitoring is getting widely adopted in commercial buildings and bridges to keep a constant check during pre-construction and post-construction phases for increasing the lifespan of infrastructures.

The adoption of automated structure monitoring is witnessing a rapid growth, owing to government inclination across countries towards the development of smart cities, and rising untoward incidences such as earthquakes and cyclones. The real estate companies utilize IoT in structure monitoring to increase the life of existing structure with minimum maintenance cost and time, which can be sighted as one of the major contributing factors for the growth of IoT market in structure monitoring.

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.