Increasing Demand for Geotechnical Instrumentation and Monitoring to Drive Market Growth, Valued at $5.1 Billion by 2026


Posted March 21, 2023 by avinashgogawale14

The Geotechnical Instrumentation and Monitoring Market is projected to grow at a CAGR of 9.6% from an estimated value of USD 3.2 billion in 2021 to USD 5.1 billion by 2026.

 
At a compound annual growth rate (CAGR) of 9.6%, the Geotechnical Instrumentation and Monitoring Market is predicted to increase from USD 3.2 billion in 2021 to USD 5.1 billion by 2026. Some of the main factors driving the market expansion include rising infrastructure investments, the use of geotechnical instruments to prevent structural failures, government mandates for sustainable constructions, and rising public awareness of the advantages of instrumentation and monitoring tools. According to the study, due to the region's rapid industrialization and urbanisation, the Asia Pacific region is anticipated to have the quickest rate of growth in the geotechnical instrumentation and monitoring market.

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.

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To improve its position in the market, Fugro, a Dutch company, has been tackling various geotechnical instrumentation and monitoring projects. For the Tiel-Waardenburg Dike reinforcement project, for instance, Fugro was given a contract in August 2021 that includes design, soil study, and monitoring services. The company has effectively entered new markets thanks to its emphasis on inorganic growth tactics, like partnerships. Fugro and NYK Group will collaborate in November 2020 to offer wind geotechnical services in Japan. They are able to provide top-notch geotechnical services in Japan thanks to Fugro's experience with offshore wind geotechnical services and NYK Group's understanding of the Japanese market. Fugro, a global leader, provides a broad range of instrumentation and monitoring services across numerous industries, including oil and gas, infrastructure, renewable energy, maritime, and more. Fugro has offices spread over 61 different nations, giving them a significant geographic reach. The company offers a variety of monitoring system design, supply, installation, and testing services as well as baseline reading, monitoring, and data display.

The Geotechnical Instrumentation and Monitoring Market is where the UK-based Keller Group, through its subsidiaries GeTec Ingenieurgesellschaft and Geo-Instruments (UK), operates (Germany). These subsidiaries provide a variety of geotechnical services, such as rail track monitoring, vibration monitoring, excavation monitoring, and geotechnical software services. The services and technologies connected to geotechnical instrumentation and monitoring are the focus of Geo-Instruments. The business prioritises inorganic growth tactics including acquisitions, as seen by its most recent acquisition of Recon Services (US) in July 2021. The geotechnical services section of Keller Group's business has been bolstered by this acquisition. The organisation is a prominent player in the market thanks to its strong regional presence and capacity to provide solutions at affordable prices.

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Through the acquisition of several businesses, including 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., Nova Metrix LLC, a US-based company, has strengthened its position in the geotechnical instrumentation and monitoring market. These divisions work together to offer customers tools and services for a range of geotechnical applications. The company offers an extensive range of services that vary depending on the desired application and has a diversified product portfolio. With a presence in more than 90 nations, Nova Metrix LLC has a significant global footprint. The company actively promotes its services at various conferences, and its ongoing efforts to increase its capabilities have made it a significant player in the market for geotechnical instrumentation and monitoring.

A US-based company called Geokon provides a wide selection of geotechnical equipment and monitoring goods. The company is concentrating on research and development to provide cutting-edge products. With sales and service offices spread throughout several nations, Geokon has a solid brand recognition and a strong global presence. Product development is a key component of the company's growth strategy, as indicated by the recent introduction of the GeoNet 8900 Series and GK-406. Whereas GK-406 is a vibrating wire analyzer that reads data in challenging situations, GeoNet 8900 Series is a wireless data collecting system.

A US-based company called Geocomp Corporation offers a wide range of services and software products to reduce the hazards associated with the planning, building, and maintenance of infrastructure in both natural and manmade environments. Its products and services for monitoring structures include web-based monitoring solutions, vibration and data analytics, predictive modelling, and rental services for hardware and software. The development of instrumentation solutions for dam monitoring, inspection, and upkeep is another area of expertise for Geocomp. The business focuses on combining cutting-edge software solutions with cutting-edge technologies to provide its clients with comprehensive goods and related services. It is a significant player in the geotechnical instrumentation and monitoring market thanks to its cutting-edge and ground-breaking products.

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Last Updated March 21, 2023