Global Smart Bridge Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Smart Bridge Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global smart bridge market report has been segmented on the basis of technology, sensors type, and region.
Global Smart Bridge Market: Overview
Smart bridge is a type of smart infrastructure along with may sensing or data acquisition hardware in order to monitor various parameters such as traffic influx, load on the bridge, stress-induced on pillars or strain on the suspension cables, thermal stress, etc. Collected data is processed by central control unit for traffic management and condition monitoring. When the system notices any failure symptoms on bridge it detects location of critically for proper maintenance and prevents failure.
Global Smart Bridge Market: Dynamics
Increasing demand for real-time monitoring and inspection system for bridge health condition is a key factor expected to drive growth of the global market over the forecast period.
In addition, increasing investment activities for smart cities by government across various countries is another factor expected to further fuel growth of the target market over the forecast period.
Moreover, rising incidence of bridge collapsing resulting in increasing demand for smart bridges coupled with smart sensors to reduce need for inspection and increased reliability of diagnostic process in order to increase life span of bridges and reduce risk of collapsing incidences. This is another factor expected to boost growth of the target market over the forecast period.
Furthermore, increasing sale of electric cars resulting in rising demand for charging these vehicles at the time of driving. Which in turn is expected to increase demand for smart roads and smart bridges across the globe.
Ongoing trend observed in the target market is early adoption of new technologies and products for improving infrastructure across various countries such as the US and Canada.
Innovative product launches and development of new technologies are factors expected to create potential revenue opportunities for players operating in the target market over the forecast period. In addition, increasing strategic merger and acquisition activities by players operating in the target market in order to enhance their product and service offerings and improve distribution network across the globe.
Global Smart Bridge Market: Segment Analysis
Among the technology segments, the condition monitoring systems segment is expected to dominate in the global market, owing to increasing demand for reducing maintenance and testing cost without compromising structural integrity of bridge.
Among the sensors type segments, the temperature sensors segment is expected to dominate in the global market, owing to its advantages such as high sensitivity, cost-effective, fast response, compact size, enhanced accuracy, and offers real-time data.
Global Smart Bridge Market: Regional Analysis
The market in North America is expected to dominate in the global market in terms of revenue over the forecast period, owing to early adoption of various new technologies and increasing presence of major players such as International Business Machines Corporation, Honeywell International Inc., and Cisco Systems, Inc. operating in this market in the US and Canada.
The market in Asia Pacific is expected to register highest CAGR over the forecast period owing to rising investment activities by government across various countries such as China, Japan, and India for smart city projects.
Global Smart Bridge Market Segmentation:
Segmentation by technology:
- Transportation and Communication Systems
- Condition Monitoring Systems
Segmentation by sensors type:
- Temperature Sensors
- Strain Gauges
- Weigh In Motion Sensors
- Photonic Sensors
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- International Business Machines Corporation
- Cisco Systems, Inc.
- Kapsch TrafficCom AG
- Huawei Technologies Co., Ltd.
- Alcatel Lucent S.A.
- Indra Sistemas, S.A.
- Schneider Electric S.E.
- ABB Ltd.
- Johnson Controls Inc.
- United Technologies Corporation
Request for TOC
Request for Customization
Don't just take our word. We are trusted by these great companies!