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Smart Bridges Market Estimated to Reach USD 1,783.06 Million by 2023

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Smart Bridges Market Estimated to Reach USD 1,783.06 Million by 2023

September 18
14:54 2017
Increasing infrastructure investments coupled with the increasing number of bridge modernization activities especially in developed economies have been stimulating the demand for these types of bridges.

According to the latest report “Smart Bridges Market: By Solution Type (Hardware, Accelerometers, Anemometers, Others, Software and Services); By Technology (Transportation and Communication System, Condition Monitoring System) & By Region (Europe, Americas, Asia-Pacific, RoW) – Forecast (2017-2023)” Published by IndustryARC, the market to reach $1,783.06m by 2023

Browse 21 Market Tables, 120 Figures spread through 138 slides and an in-depth TOC on “Smart Bridges Market (2017 – 2023)” – http://industryarc.com/Report/17017/smart-bridges-market.html

According to a recent study from IndustryARC, smart bridge market is estimated to reach $1,783.06m by 2023 and is expected to grow at a CAGR of 24.63% during the forecast period. The growth in the market is primarily attributed to increasing bridge collapse incidents, growth of IoT sector, low cost of deployment and rising number of automotive are among some of the major factors impacting the growth of the market.

Smart bridge market is largely dominated by the conditional monitoring technology with a market share nearly about 55% of the total market. With the increasing bridges collapse incidences since past decade and the increasing the demand for reduction in maintenance and testing cost without compromising the structural integrity of the bridge is set to drive the market during the forecast period from 2017 to 2023. In terms of hardware type, strain gauges is estimated to be the fastest growing segment with market value of $100.3m by 2023. Rising traffic congestions, increase in vehicles equipped with wireless technologies, initiatives by government to improve people safety and launch of projects for development of monitoring system for smart bridges will result in to the growth of the smart bridge market across the globe.

Americas is set to dominate the global smart bridge market with a value share of 39% in 2015. APAC is estimated to grow prominently by CAGR 27.52% during 2017-2023 owing to the increasing number of smart city implementations in the future.

Request For Table Of Contents @ http://industryarc.com/pdfdownload.php?id=17017

The Major Players in this Market Include

  • IBM corp. (U.S.)

  • Siemens AG (Germany)

  • Honeywell International (U.S.)

  • Kapsch trafficom (Austria)

  • Cisco systems (U.S.)

The smart bridge service providers have made extensive investments into R&D and have utilized product launches, acquisitions, and collaborations to enhance core competencies through additions to product portfolio as well as leveraging capabilities of acquired companies to gain a foothold in the emerging markets.

The smart bridge market study across Hardwaretype and technology is incorporated in the Report:

  • Hardware type

    • Accelerometers

    • Anemometers

    • Temperature sensors

    • Weigh-in-motion devices

    • Strain gauges

    • Photonic Sensors

    • Others

  • Technology

    • Transportation and communication system

    • Condition monitoring

The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.

Reach Us With Your Query @ http://industryarc.com/analystcall.php?id=17017

About IndustryARC:

IndustryARC is a Research and consulting firm that publishes more than 500 Reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.

We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.

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Company Name: IndustryARC
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Website: http://www.industryarc.com

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