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.
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Infrastructure
Asset Management Market Report Highlights
- 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
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Infrastructure
Asset Management Market Segmentation
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
Infrastructure
Asset Management (IAM) Region Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a 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, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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