A huge reason for the Infrastructure Monitoring Market growth is that cloud computing is becoming more popular. Businesses are moving their work to the cloud more and more to get more freedom, grow, and save money. Businesses need to find ways to check on their cloud-based resources and make sure they are healthy, so keeping an eye on cloud technology has become more important. Setting up the cloud is busy and spread out, so it needs special tools to keep track of everything.
Concerns about safety are also having an effect on the market for monitoring equipment. Businesses are putting more effort into keeping their IT systems safe as the number and complexity of online threats grow. It's important to have infrastructure monitoring choices so that you can find security events and respond to them right away, which makes a business safer overall. People want advanced monitoring tools that focus on security because they need to be able to quickly respond to events and find threats before they happen.
There are also rules that the Infrastructure Monitoring Market has to follow, which shapes it. All companies, in every industry, must follow strict rules to keep an eye on and protect their important IT systems. This includes healthcare, energy, finance, and more. A lot of the time, businesses have to set up full monitoring systems to make sure they meet security, speed, and data safety standards set by their industry. To stay in line with changing laws, businesses need to buy infrastructure monitoring tools.
Things are getting more difficult in IT, which is a big reason why infrastructure monitoring tools are in such high demand. It can be hard for businesses to keep their IT systems going at their best when they mix different platforms, networks, and apps. Tools that track infrastructure give IT teams information in real time that helps them quickly find and fix speed issues. This is even more important in today's fast-paced business world, where downtime can cost a lot of money and hurt your reputation.
A lot of Internet of Things (IoT) gadgets are being used, which is also making the Infrastructure Monitoring Market grow. Business need monitoring tools that can handle the unique issues that arise when a lot of devices are linked. This is because IoT platforms are becoming more popular in many fields. IoT infrastructure monitoring tools make it easier to deal with the complexity of these environments, collect and analyze useful data, and make sure that IoT devices work well and efficiently.
Costs going down is another thing that changes how the market for monitoring technology works. It's important for businesses to keep costs low while making their IT work as well as it can. Monitoring systems for infrastructure are very helpful for making the best use of resources because they reveal areas that aren't working well, let managers know about problems before they happen, and encourage proactive management. To help them reach their goals of cutting costs, businesses should be able to avoid downtime, make the best use of their resources, and run more efficiently overall.
The Infrastructure Monitoring Market Size was valued at USD 9.04 Billion in 2022. The Infrastructure Monitoring industry is projected to grow from USD 9.92 Billion in 2023 to USD 16.14 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.51% during the forecast period (2023 - 2030). A monitoring system is infrastructure monitoring. By looking into pertinent data and information about the infrastructure, infrastructure monitoring is intended to manage infrastructure. By gathering data regularly to send alerts for network intrusion, unscheduled downtime, and other events, infrastructure monitoring aids in ensuring security and the health of the infrastructure. Infrastructure monitoring has many qualities that make it trustworthy in the market, including early problem identification, performance monitoring, real-time data, and others.Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Due to the high cost of labor in nations like China, the growing number of smart city projects necessitate automated monitoring and inspection systems for their infrastructure or buildings. This is achieved by the incorporation of cutting-edge technology into infrastructure monitoring systems, such as IOT and sensor systems. The continuous collection and analysis of building monitoring data for preventative maintenance are made possible by the combination of cutting-edge technology with infrastructure monitoring. For instance, 2,301 projects totaling $35.7 billion are part of India's smart city strategy, which spans several states. Five additional smart cities have been announced for the fiscal year 2020-2021 as part of the smart city initiative. Consequently, as technology advances, the development of smart infrastructure opens up new opportunities for infrastructure monitoring.
The market segmentation, based on Technology, includes Wireless and Wired. The Wireless segment holds the majority share in 2022, contributing to the Infrastructure Monitoring revenue. The demand for wireless monitoring systems has increased due to several factors such as the need for real-time monitoring, increased mobility, and ease of installation. Wireless monitoring systems provide numerous advantages over traditional wired systems, including greater flexibility, scalability, and reduced maintenance costs.
Based on Component, the market segmentation includes Software, Hardware, and Services. The Hardware segment dominated the market. The demand for hardware components such as sensors, cameras, and other monitoring devices has increased significantly due to the growing need for real-time monitoring and surveillance.
Based on End Use, the market segmentation includes Aerospace & Defense, Energy, Mining, Civil Infrastructure, and Others. The Aerospace & Defense segment is projected to be the faster-growing segment during the forecast period, 2023-2030. The use of infrastructure monitoring systems in the aerospace & defense industry has increased due to the growing need for real-time data and improved decision-making processes.
Figure 2: Infrastructure Monitoring Market, by End Use, 2022 & 2030 (USD Million)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America is one of the largest markets for infrastructure monitoring systems and has dominated the market for many years. The region is characterized by a high level of technology adoption, a well-developed infrastructure, and a large number of key players operating in the market. The demand for infrastructure monitoring systems in North America is driven by several factors, including the need for real-time monitoring, the need for improved decision-making processes, and the growing adoption of IoT technology. Additionally, the presence of several key players in the region, such as Honeywell, General Electric, and Siemens, has helped drive the growth of the market in North America. The North American market is expected to continue its dominance in the coming years, driven by the increasing demand for advanced monitoring systems and the growing need for real-time data in various end-user industries such as construction, transportation, and energy and utilities, among others.
Figure 3: INFRASTRUCTURE MONITORING MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Infrastructure Monitoring industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Infrastructure Monitoring industry to benefit customers and expand the market sector. Major market players, including Casio systems, Oracle Corporation, Plumbr, Accel Frontline Limited, and others, are attempting to increase market demand by funding R&D initiatives.
Oracle is a corporation that offers platform services and integrated cloud applications. Three business divisions make up its operations: Cloud and License, Hardware, and Services. Through its cloud and licensing services, the Cloud and License business promotes, offers for sale, and provides a variety of enterprise applications and infrastructure technologies. The Hardware division includes hardware support as well as business hardware products including Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, management, and more. Advanced customer services and consultancy are included in the services section.
Cisco Systems develops and markets a variety of technologies for networking, security, teamwork, apps, and the cloud. It provides products for wireless, data centers, switching, routing, cloud, and email security, identity and access management, threat prevention, and unified threat management, as well as cloud and system management. Additionally, the firm offers technical assistance and cutting-edge services to enterprises, governmental bodies, nonprofit organizations, and service providers.
January 2022 Netreo announced that it is Netreo full-stack IT infrastructure monitoring and Retrace by Netreo full lifecycle APM solutions have received Veracode Verified Standard recognition, demonstrating that code development processes adhere to AppSec best practices and further strengthening the Netreo and Retrace by Netreo solutions' security posture.
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