22-Oct-2019: The global infrastructure asset
management market size is expected to reach at USD 41.04
billion by 2025, registering a CAGR of 8.9% from 2019 to 2025, according to a
new report by Grand View Research, Inc. Technological advancements such as
Internet of Things (IoT) and automation for infrastructure have resulted in
application of analytical and business intelligence tools for infrastructure
management solutions.
Government agencies
across the globe are emphasizing more on infrastructure management solutions by
replacing traditional methods with technologies that use internet services such
as GPS and cloud computing. Moreover, growing awareness pertaining to the
benefits of IoT-based asset management solutions are further expected to drive
the infrastructure asset management market growth.
Investments for
road infrastructure management is expected to increase owing to the deployment
of various smart city projects such as traffic management and parking
management, among others in the upcoming years. Rapid adoption of
technologically advanced systems in road infrastructure such as license plate
recognition systems, traffic signal systems, and smart parking systems are
further expected to drive the infrastructure asset management (IAM) market.
Moreover, investments for energy sector grew significantly since 2016 due to
the growing initiatives by governments for development of renewable energy
generation projects, thus encouraging sustainable development.
Federal and
municipality governments across various cities have been focusing on developing
planned smart cities through PPP funding. This has led to the high adoption of
latest technologies with an emphasis on the development of intelligent
transportation systems and smart parking system.
In
depth research report on Infrastructure Asset Management Market
Further key findings from the report suggest:
·
North American is expected to witness significant growth over
the forecast period owing to the growing need to increase asset utilization
while reducing operational costs
·
Vendors are focusing on establishing tie-ups with software
development firms for developing infrastructure asset management solutions,
hence companies that provide IAM services are facilitated by international
water association
·
IAM solutions are becoming popular among municipalities as
they combine features such as a systematic and combined, approach for
managements of varied infrastructure in sectors such as energy, water, and
waste
·
Transportation infrastructure segment has captured a large
percentage of market share owing to the huge investments for the development of
transportation infrastructure
·
City authorities across the globe are stressing on creating
sustainable living standards by investing in the development of infrastructure
asset management systems for energy and water infrastructure
·
Key players in the Infrastructure Asset Management (IAM)
market are WSP Global Inc.; RPS Group Plc.; Brookfield Asset Management Inc.;
Macquarie Group Limited; SIMCO Technologies; Pitney Bowes Inc.; and WS Atkins
Limited
Grand View Research
has segmented the global infrastructure asset management market based on
component, service type, application, and region:
Infrastructure Asset Management (IAM) Component Outlook
(Revenue, USD Million, 2014 - 2025)
·
Solution
·
Service
Infrastructure Asset Management (IAM) Service Type Outlook
(Revenue, USD Million; 2014 - 2025)
·
Strategic Asset Management
·
Operational Asset Management
·
Tactical Asset Management
Infrastructure Asset Management (IAM) Application Outlook
(Revenue, USD Million; 2014 - 2025)
·
Transportation
·
Energy Infrastructure
·
Water & Waste Infrastructure
·
Critical Infrastructure
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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