The Geotechnical Instrumentation and Monitoring Market is estimated to be worth USD 3.2 billion in 2021 and is projected to reach USD 5.1 billion by 2026, at a CAGR of 9.6%.
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. The impact of this driver is presently high and is expected to remain the same during the forecast period as investments in the infrastructure sector are expected to grow every year.
Wireless networking technology to grow at the highest CAGR during the forecast period
Advancements related to wireless technologies have led to the development of devices to which conventional instruments such as strain gauges, piezometers, inclinometers, linear voltage displacement transducers, and accelerometers can be attached for centralized data collection and analysis. The growing demand for wireless networking technologies for geotechnical instrumentation and monitoring is a major factor contributing to the high market growth for wireless networking technology. However, wired networking technology is expected to hold the largest share of the market owing to the larger adoption of wired instruments for geotechnical monitoring.
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The Major Players in the Geotechnical Instrumentation and Monitoring Market are Fugro (Netherlands), Keller Group (UK), Nova Metrix LLC (US), Geokon (US) and Geocomp Corporation (US). The market players have adopted various strategies such as development of advanced products, contracts, partnerships, collaborations and acquisitions to strengthen their position in the market. The organic and inorganic strategies have helped the market players to expand themselves globally with innovative and customized product offerings and services.
Fugro (Netherlands) undertakes several Geotechnical Instrumentation and Monitoring projects to strengthen its position in the market. For instance, in August 2021, Fugro was awarded a design, soil investigation and monitoring contract for Tiel-Waardenburg Dike reinforcement project. Fugros scope of work for the project majorly includes design services, consultancy, soil testing and construction management. The company extensively focuses on inorganic growth strategies, such as partnerships, to enter new markets. For instance, in November 2020, Fugro partnered with NYK Group (Japan) to provide wind geotechnical services in Japan. Fugros expertise in offshore wind geotechnical services and NYK Groups knowledge about the Japanese market will enable both the companies to provide high-quality geotechnical services in Japan. The company is a leading player in the market and offers instrumentation and monitoring services such as monitoring system design, procurement and supply, installation and testing, baseline reading and monitoring, and data presentation and has a strong geographic presence with offices located in 61 countries globally. The wide range of services offered by Fugro find applications in oil and gas, infrastructure, renewables, nautical, and other sectors.
Keller Group (UK) operates in the Geotechnical Instrumentation and Monitoring Market through subsidiaries such as Geo-Instruments (UK) and GeTec Ingenieurgesellschaft (Germany). These subsidiaries provide services such as vibration monitoring, excavation monitoring, geotechnical software services, and rail track monitoring. Geo-Instruments specializes in services and technologies related to Geotechnical Instrumentation and Monitoring. The company offers a wide range of geotechnical services for its customers and focuses on inorganic strategies such as acquisitions for growth. For instance, in July 2021, Keller Group announced the acquisition of Recon Services (US), a geotechnical and industrial services company. With this acquisition, the company strengthened its portfolio of geotechnical services. Its strong geographic presence and its ability to offer cost-competitive solutions have made Keller Group a major player in the market. Similarly, in June 2018, the company announced the acquisition of Sivenmark Maskintjanst AB, a company that specializes in piling. The acquisition was aimed to strengthen Kellers steel piling service competencies.
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Nova Metrix LLC (US) has acquired several companies to strengthen its position in the Geotechnical Instrumentation and Monitoring Market. The various subsidiaries of the company are 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. These companies collaborate to provide instruments and services to the customers for a variety of geotechnical applications. The company has participated in various conferences to promote its brand of services. The diverse product portfolio of the company is exhaustive in nature and the services offered by the company vary according to the desired application. Nova Metrix LLC has a strong global reach with a presence in more than 90 countries.
Geokon (US) offers a wide range of products that include instruments such as piezometers, inclinometers, strain gauges, tiltmeters, and pressure cells that can be used for several geotechnical applications. The company extensively focuses on R&D activities to develop advanced and innovative products. It has a strong brand name and a strong global presence with sales support and system integration facilities in many countries. The company extensively focuses on product development as a strategy for growth. For instance, in March 2021, Geokon launched GeoNet 8900 Series, a wireless, low power data acquisition system that collects data from sensors and provides secure access to view the data over the internet and the company platforms. Similarly in June 2020, the company launched GK-406, a vibrating wire analyzer that uses spectral analysis technology which enables the device to read data even in harsh environments.
Geocomp Corporation (US) offers a wide range of advanced services, such as web-based monitoring solutions, vibration and data analytics and predictive modeling for assessment of risk. The company also provides software solutions as well as rental services of hardware and software solutions for monitoring of structures. The company focuses on developing instrumentation solutions for dam surveillance, inspection, and maintenance. The company also focuses on integrating new technologies with advanced software solutions to mitigate risks related to structures. The company aims to provide comprehensive products and allied services to its customers to help them identify and manage risk associated with the design, construction, and operation of infrastructure in natural and built environments. The advanced and innovative products offered by the company make it a major player in the Geotechnical Instrumentation and Monitoring Market.
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