Smart Bridge Market by By Technology (Condition Monitoring Systems and Transportation & Communication Systems), By Sensors Type (Accelerometers, Temperature Sensors, Weigh in Motion Sensors, Anemometers, Photonic Sensors, Strain Gauges, and Others) Forecast to 2016-2023
Industry Outlook and Trend Analysis
Smart Bridge Market is expected to gain immense popularity by 2023, while registering itself at a significant compound annual growth rate (CAGR) during the forecast period. Smart bridges are bridges that have advanced features, which alarm the maintenance sections for any kind of mishaps, for example, issues with the structure, which could diminish the danger of falling, before they can arrive. Monitoring on real time basis and assessment system for maintaining safety condition is one of the main considerations for development of the smart bridge market. Expanding investment for smart cities areas is one of the main factors for development of the market. For example, as indicated by the Indian government Union Budget 2018-19, the legislature has chosen 99 urban communities under the smart city mission and will give a store of US$ 3.1billion for the advancement of the urban communities. Therefore, this expanding subsidizing for smart cities have additionally quickened development of the smart bridges market. Moreover, expanding frequency of bridge collapsing is likewise one of the main aspects, prompting expanding interest for smart bridges.
Sensor Type Outlook and Trend Analysis
Based on sensor type, temperature sensors portion held the prevailing position in the market and is anticipated to hold its predominance all through the conjecture time frame. Because of different benefits, for example, low cost, high sensitivity, small size, quick response, improved accuracy, and offering information on real time basis have prompted development of this portion in the market.
Technology Outlook and Trend Analysis
Based on technology, condition monitoring systems fragment held the predominant position in the brilliant extension market in 2017 and is anticipated to hold its strength all through the conjecture time frame. Expanding demand for lessening maintenance and testing expense without trading off the structural integrity of the extension is anticipated to be a factor for development of the portion. Besides, transportation & communication systems portion is anticipated to display a significant CAGR in the estimate time frame.
Regional Outlook and Trend Analysis
North America held the predominant position in the market in 2017 and is anticipated to hold its strength all through the figure time frame. Because of pattern of early appropriation of advances and high existence of market players in this locale are factors prompting development of this area. Besides, Asia Pacific is anticipated to display the most noteworthy CAGR over the conjecture time frame. India, China, and Japan are a portion of the significant nations, in this locale. Expanding interest in smart cities by governments is a main consideration for development of the smart bridge market in Asia Pacific.
The leading players in the market are Kapsch TrafficCom AG, IBM, Indra Sistemas, Huawei, Lord Corporation, Siemens, Cisco Systems, Alcatel-Lucent and Honeywell. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Smart Bridge Market is segmented based on regions as follows-
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?