DUBLIN–(BUSINESS WIRE)–The “Geotechnical Instrumentation and Monitoring Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global geotechnical instrumentation and monitoring market is expected to grow at a compound annual growth rate of 8.62% over the analyzed period to reach a market size of US$4.227 billion in 2026 from US$2.370 billion in 2019.
Companies Mentioned
Geokon Deep Excavation LLC Geocomp Corporation Sisgeo S.r.l. Eustis Engineering LLC Nova Ventures RST Instruments Ltd. Keller Group plc James Fisher and Sons plc Encardio Rite Geotechnical, as the name suggests, is technology linked with earth. Geotechnical instruments are equipment that is used to monitor the earth, structures that are constructed over it, beneath it, and on it. The key idea is to monitor anything that is constructed and maintained on the surface of the Earth. Geotechnical monitors are the internal function of geotechnical instruments. These instruments and monitors are essential to survey the area before construction for knowing the feasibility of the land by noting the soil profile and groundwater level. An undesirable soil can erode, causing collusion of the building or mine, and loss of lives and economic losses.
Monetization continuous even after checking the profile and desirability, while construction is going on to ensure that the structure is made as per the plans and expectations. After finishing the construction of buildings or mines, these instruments facilitate the location of cracks and weak spots for reconstruction/ strengthening in order to avoid potential disaster chances. Hence, one can conclude that the prime factor surging the demand for geotechnical instrumentation and monitoring market is the booming construction industry around the world. However, these instruments require a skilled workforce for operation and interpretation of the results, whose unavailability may hinder the market growth.
Advantages of Geotechnical Instruments and Monitoring.
Every civil engineering project requires continuous scrutinization pre and post-construction for ensuring the safety of the building inhabitants. Geotechnical monetization hence is the health check-up of the buildings and mines. In addition to surveying and construction, these monitors facilitate design verification and hypothesis testing. Data collected helps in the modification of the model as per the requirement in the initial phase. Certain instruments help in monitoring the effect of construction and the speed for completing the project. These monitors also provide safety warnings, allowing time for safe evacuation and remedial actions. Results from these instruments also work as evidence for the legal defense of designers and contractors. They also facilitate in-service performance and observe leakages, water pressure, deformation, and others.
COVID-19 Insights
The coronavirus pandemic resulted in a nationwide lockdown and a halt in economic activities. A halt in the construction industry leads to a decrease in demand for geotechnical instruments and monitors. However, with resuming economic activities, the market is anticipated to grow significantly. However, migration and displacement of labor has decreased the workforce in the market, hindering the growth owing to unavailability of labor.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. Global Geotechnical Instrumentation and Monitoring Market, by Product
5.1. Introduction
5.2. Hardware
5.3. Software
5.4. Services
6. Global Geotechnical Instrumentation and Monitoring Market, by Application
6.1. Introduction
6.2. Building and Infrastructure
6.3. Power Generation
6.4. Mining
6.5. Others
7. Global Geotechnical Instrumentation and Monitoring Market, by Geography
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Geokon
9.2. Deep Excavation LLC
9.3. Geocomp Corporation
9.4. Sisgeo S.r.l.
9.5. Eustis Engineering LLC
9.6. Nova Ventures
9.7. RST Instruments Ltd.
9.8. Keller Group plc
9.9. James Fisher and Sons plc
9.10. Encardio Rite
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