Global IoT Market in Structure Monitoring to Witness 24.1% CAGR During 2016 – 2022: P&S Market Research

December 07 19:31 2016
research “Global IoT Market in Structure Monitoring Market Size, Share, Development, Growth and Demand Forecast to 2022 – Industry Insights by Solution (Physical Security System, EMS, Building Communication System, Parking Management System, Plumbing & Water Management, Elevators & Escalators Management System, Earthquake Monitoring System)

The global Internet of Things (IoT) market in structure monitoring is expected to grow at a CAGR of 24.1% during 2016-2022. Among the various solutions, the physical security system segment held the largest share in the global IoT market in structure monitoring in 2015. 

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The concept of SMART, which stands for self-monitoring analysis and reporting technology solutions, has revolutionized the methods of managing large structures, such as buildings, bridges, and dams. The increasing internet penetration has further augmented the adoption of advanced measures, such as IoT to achieve the required results in structure monitoring.

The 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.

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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 the 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 as 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 major companies operating in the global IoT market 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.

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