The infrastructure inspection market size is expected to see strong growth in the next few years. It will grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to remote inspection solutions, increased emphasis on sustainability, focus on cybersecurity, predictive maintenance solutions. Major trends in the forecast period include drone technology advancements, technological advancements, enhanced safety measures, automation for efficiency.
The infrastructure inspection market size has grown strongly in recent years. It will grow from $2.05 billion in 2023 to $2.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to aging infrastructure, regulatory compliance requirements, a focus on cost reduction and efficiency, increased use of data analytics and reporting, and growing environmental concerns. These factors have collectively contributed to the growth of the industry during that time.
The infrastructure inspection market size is expected to see strong growth in the next few years. It will grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The projected growth in the forecast period can be attributed to the adoption of remote inspection solutions, a heightened focus on sustainability, an increased emphasis on cybersecurity, and the implementation of predictive maintenance solutions. Major trends in this period include advancements in drone technology, overall technological progress, the implementation of enhanced safety measures, and the adoption of automation for improved efficiency.
The surge in capital investments for structural health monitoring (SHM) is expected to propel the growth of the infrastructure inspection market. SHM systems are essential for monitoring the structural integrity of aging infrastructure, such as bridges, highways, buildings, dams, and tunnels, to ensure public safety. For instance, in March 2022, the US government allocated a budget of $12 million to the Engineer Research and Development Centre (ERDC) for the advancement of SHM technologies, indicating significant investment in this sector. This surge in capital investments is driving the growth of the infrastructure inspection market.
The expected worldwide transition towards renewable energy sources is set to propel the infrastructure inspection market. Renewable energy encompasses energy harnessed from naturally replenished sources such as sunlight, wind, rain, tides, waves, and geothermal heat. Infrastructure inspection involves the assessment and upkeep of renewable energy facilities, including wind turbines and solar farms, ensuring their optimal functionality and prolonged lifespan. For instance, data from the International Energy Agency (IEA) in May 2022 indicated that annual additions to renewable capacity set a new record in 2021, surging by 6% to reach 295 GW. Consequently, the global shift towards renewable energy stands as a driving force behind the infrastructure inspection market's growth.
The infrastructure inspection market is witnessing a significant trend centered on technological advancement, with major companies focusing on innovative solutions to fortify their position. An exemplar in this space is Toshiba, a Japan-based company entrenched in infrastructure inspection. In May 2022, Toshiba unveiled its cutting-edge Infrastructure Inspection AI, a groundbreaking technology adept at detecting anomalies with unparalleled accuracy, drawing from a limited set of reference images. Diverging from conventional AI models that necessitate real-world training, this innovation leverages pre-trained deep learning models to compare inspection shots against reference images. What sets this AI apart is its capacity to detect anomalies with remarkable precision, even when inspection photos are captured from varying perspectives than those in the reference images, courtesy of Toshiba's proprietary rectification technology. Furthermore, this innovation significantly reduces false positives, discerning abnormal patterns accurately within the realm of normalcy.
Major players in the infrastructure inspection market are actively pursuing strategic collaborations to ensure reliable services for their customers. Strategic collaboration involves mutually beneficial partnerships between independent entities working together to achieve shared goals aligned with their respective strategic objectives. For instance, in July 2023, Infotech, a US-based provider of e-construction solutions, forged a partnership with Seiler Geospatial, a US-based company specializing in optical instrument design, manufacturing, and service. Their collaboration aims to advance civil infrastructure projects by leveraging digitalization. Through the synergy of their expertise and technology, this collaboration facilitates more efficient, precise, and cost-effective inspections, ultimately contributing to higher-quality infrastructure projects.
In July 2022, DroneBase, a US-based leader in intelligent imaging, acquired the UK-based company Inspection2 for an undisclosed amount. This strategic acquisition is aimed at expanding DroneBase's AI-enabled inspection capabilities across the telecom and transmission and distribution sectors. By incorporating Inspection2 into its operations, DroneBase aims to offer a comprehensive solution for owners, operators, and investors in renewable energy infrastructure and systems. Inspection2 is known for its expertise in infrastructure inspection.
Major companies operating in the infrastructure inspection market report are Intel Corporation, Jacobs Engineering Group Inc., AES Engineering Ltd., Wipro Limited, Bureau Veritas, Xylem Inc., Leighton Holdings Limited, FLIR Systems Inc., National Instruments Corporation, Eddyfi Technologies, Honeybee Robotics, Golder Associates Ltd., ERM Group, MISTRAS Group, Parrot Drone SAS, Lockheed Martin Corporation, Geokon Inc., Northrop Grumman Corporation, Campbell Scientific Inc., Geocomp Corporation, AVT Reliability Ltd., DJI Technology Co. Ltd., MNS Group Limited, Pure Technologies Ltd Company, RAE Systems by Honeywell, Sisgeo S.r.l., Structural Monitoring Systems PLC, Acellent Technologies Inc., Digitex Data Systems Inc., MFE Rentals. North America was the largest region in the infrastructure inspection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the infrastructure inspection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The main methods used for infrastructure inspection are drones, unmanned aerial vehicles (UAVs), crawlers, and submersibles. Crawlers are programs that visit websites to read their pages and other information to create entries for a search engine index. These operations can be autonomous or semi-autonomous. The applications of infrastructure inspection include pipes, tanks, and vessels, sewers, roads and bridges, underwater inspection, wind turbines, nuclear applications, and auxiliary structures. The end-users of infrastructure inspection services include building and construction, oil and gas, power generation, chemicals, petrochemicals, municipal, and general purposes.
The infrastructure inspection market size has grown strongly in recent years. It will grow from $2.05 billion in 2023 to $2.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to aging infrastructure, regulatory compliance, cost reduction and efficiency, data analytics and reporting, environmental concerns.
The countries covered in the infrastructure inspection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The infrastructure inspection market consists of revenues earned by entities by providing infrastructure inspection that are used in pipes, sewers and wind turbines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The infrastructure inspection market size has grown strongly in recent years. It will grow from $2.05 billion in 2023 to $2.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to aging infrastructure, regulatory compliance requirements, a focus on cost reduction and efficiency, increased use of data analytics and reporting, and growing environmental concerns. These factors have collectively contributed to the growth of the industry during that time.
The infrastructure inspection market size is expected to see strong growth in the next few years. It will grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The projected growth in the forecast period can be attributed to the adoption of remote inspection solutions, a heightened focus on sustainability, an increased emphasis on cybersecurity, and the implementation of predictive maintenance solutions. Major trends in this period include advancements in drone technology, overall technological progress, the implementation of enhanced safety measures, and the adoption of automation for improved efficiency.
The surge in capital investments for structural health monitoring (SHM) is expected to propel the growth of the infrastructure inspection market. SHM systems are essential for monitoring the structural integrity of aging infrastructure, such as bridges, highways, buildings, dams, and tunnels, to ensure public safety. For instance, in March 2022, the US government allocated a budget of $12 million to the Engineer Research and Development Centre (ERDC) for the advancement of SHM technologies, indicating significant investment in this sector. This surge in capital investments is driving the growth of the infrastructure inspection market.
The expected worldwide transition towards renewable energy sources is set to propel the infrastructure inspection market. Renewable energy encompasses energy harnessed from naturally replenished sources such as sunlight, wind, rain, tides, waves, and geothermal heat. Infrastructure inspection involves the assessment and upkeep of renewable energy facilities, including wind turbines and solar farms, ensuring their optimal functionality and prolonged lifespan. For instance, data from the International Energy Agency (IEA) in May 2022 indicated that annual additions to renewable capacity set a new record in 2021, surging by 6% to reach 295 GW. Consequently, the global shift towards renewable energy stands as a driving force behind the infrastructure inspection market's growth.
The infrastructure inspection market is witnessing a significant trend centered on technological advancement, with major companies focusing on innovative solutions to fortify their position. An exemplar in this space is Toshiba, a Japan-based company entrenched in infrastructure inspection. In May 2022, Toshiba unveiled its cutting-edge Infrastructure Inspection AI, a groundbreaking technology adept at detecting anomalies with unparalleled accuracy, drawing from a limited set of reference images. Diverging from conventional AI models that necessitate real-world training, this innovation leverages pre-trained deep learning models to compare inspection shots against reference images. What sets this AI apart is its capacity to detect anomalies with remarkable precision, even when inspection photos are captured from varying perspectives than those in the reference images, courtesy of Toshiba's proprietary rectification technology. Furthermore, this innovation significantly reduces false positives, discerning abnormal patterns accurately within the realm of normalcy.
Major players in the infrastructure inspection market are actively pursuing strategic collaborations to ensure reliable services for their customers. Strategic collaboration involves mutually beneficial partnerships between independent entities working together to achieve shared goals aligned with their respective strategic objectives. For instance, in July 2023, Infotech, a US-based provider of e-construction solutions, forged a partnership with Seiler Geospatial, a US-based company specializing in optical instrument design, manufacturing, and service. Their collaboration aims to advance civil infrastructure projects by leveraging digitalization. Through the synergy of their expertise and technology, this collaboration facilitates more efficient, precise, and cost-effective inspections, ultimately contributing to higher-quality infrastructure projects.
In July 2022, DroneBase, a US-based leader in intelligent imaging, acquired the UK-based company Inspection2 for an undisclosed amount. This strategic acquisition is aimed at expanding DroneBase's AI-enabled inspection capabilities across the telecom and transmission and distribution sectors. By incorporating Inspection2 into its operations, DroneBase aims to offer a comprehensive solution for owners, operators, and investors in renewable energy infrastructure and systems. Inspection2 is known for its expertise in infrastructure inspection.
Major companies operating in the infrastructure inspection market report are Intel Corporation, Jacobs Engineering Group Inc., AES Engineering Ltd., Wipro Limited, Bureau Veritas, Xylem Inc., Leighton Holdings Limited, FLIR Systems Inc., National Instruments Corporation, Eddyfi Technologies, Honeybee Robotics, Golder Associates Ltd., ERM Group, MISTRAS Group, Parrot Drone SAS, Lockheed Martin Corporation, Geokon Inc., Northrop Grumman Corporation, Campbell Scientific Inc., Geocomp Corporation, AVT Reliability Ltd., DJI Technology Co. Ltd., MNS Group Limited, Pure Technologies Ltd Company, RAE Systems by Honeywell, Sisgeo S.r.l., Structural Monitoring Systems PLC, Acellent Technologies Inc., Digitex Data Systems Inc., MFE Rentals. North America was the largest region in the infrastructure inspection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the infrastructure inspection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The main methods used for infrastructure inspection are drones, unmanned aerial vehicles (UAVs), crawlers, and submersibles. Crawlers are programs that visit websites to read their pages and other information to create entries for a search engine index. These operations can be autonomous or semi-autonomous. The applications of infrastructure inspection include pipes, tanks, and vessels, sewers, roads and bridges, underwater inspection, wind turbines, nuclear applications, and auxiliary structures. The end-users of infrastructure inspection services include building and construction, oil and gas, power generation, chemicals, petrochemicals, municipal, and general purposes.
The infrastructure inspection market size has grown strongly in recent years. It will grow from $2.05 billion in 2023 to $2.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to aging infrastructure, regulatory compliance, cost reduction and efficiency, data analytics and reporting, environmental concerns.
The countries covered in the infrastructure inspection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The infrastructure inspection market consists of revenues earned by entities by providing infrastructure inspection that are used in pipes, sewers and wind turbines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Infrastructure Inspection Market Characteristics3. Infrastructure Inspection Market Trends and Strategies32. Global Infrastructure Inspection Market Competitive Benchmarking33. Global Infrastructure Inspection Market Competitive Dashboard34. Key Mergers and Acquisitions in the Infrastructure Inspection Market
4. Infrastructure Inspection Market - Macro Economic Scenario
5. Global Infrastructure Inspection Market Size and Growth
6. Infrastructure Inspection Market Segmentation
7. Infrastructure Inspection Market Regional and Country Analysis
8. Asia-Pacific Infrastructure Inspection Market
9. China Infrastructure Inspection Market
10. India Infrastructure Inspection Market
11. Japan Infrastructure Inspection Market
12. Australia Infrastructure Inspection Market
13. Indonesia Infrastructure Inspection Market
14. South Korea Infrastructure Inspection Market
15. Western Europe Infrastructure Inspection Market
16. UK Infrastructure Inspection Market
17. Germany Infrastructure Inspection Market
18. France Infrastructure Inspection Market
19. Italy Infrastructure Inspection Market
20. Spain Infrastructure Inspection Market
21. Eastern Europe Infrastructure Inspection Market
22. Russia Infrastructure Inspection Market
23. North America Infrastructure Inspection Market
24. USA Infrastructure Inspection Market
25. Canada Infrastructure Inspection Market
26. South America Infrastructure Inspection Market
27. Brazil Infrastructure Inspection Market
28. Middle East Infrastructure Inspection Market
29. Africa Infrastructure Inspection Market
30. Infrastructure Inspection Market Competitive Landscape and Company Profiles
31. Infrastructure Inspection Market Other Major and Innovative Companies
35. Infrastructure Inspection Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Infrastructure Inspection Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on infrastructure inspection market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for infrastructure inspection? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Product Type: Drones, or Unmanned Aerial Vehicles (UAVs); Crawlers; Submersibles
2) By Operation: Autonomous; Semi-Autonomous
3) By Application: Pipes; Tanks and Vessels; Sewers; Roads and Bridges; Underwater Inspection; Wind Turbines; Nuclear Applications; Auxiliary Structures
4) By End-Use: Building and Construction; Oil and Gas; Power Generation; Chemical; Petrochemical; Municipal; General Purpose
Key Companies Mentioned: Intel Corporation; Jacobs Engineering Group Inc.; AES Engineering Ltd.; Wipro Limited; Bureau Veritas
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Intel Corporation
- Jacobs Engineering Group Inc.
- AES Engineering Ltd.
- Wipro Limited
- Bureau Veritas
- Xylem Inc.
- Leighton Holdings Limited
- FLIR Systems Inc.
- National Instruments Corporation
- Eddyfi Technologies
- Honeybee Robotics
- Golder Associates Ltd.
- ERM Group
- MISTRAS Group
- Parrot Drone SAS
- Lockheed Martin Corporation
- Geokon Inc.
- Northrop Grumman Corporation
- Campbell Scientific Inc.
- Geocomp Corporation
- AVT Reliability Ltd.
- DJI Technology Co. Ltd.
- MNS Group Limited
- Pure Technologies Ltd Company
- RAE Systems by Honeywell
- Sisgeo S.r.l.
- Structural Monitoring Systems plc
- Acellent Technologies Inc.
- Digitex Data Systems Inc.
- MFE Rentals
Methodology
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