The global bridge inspection service market is estimated at US$ 5,109 million in 2022 and is expected to expand at a healthy CAGR of 3% during the forecast years of 2022-2032. Bridge inspection tools like mobile inspection robots are suggested for market growth owing to high flexibility and portability attribute. The ability to access challenging-to-inspect areas of a bridge and data processing to improve inspection repeatability and reliability are the core business prospect offered by service providers.
A robot physically scans the bridge in the same amount of time as a human inspector, but it processes the data in a matter of minutes as opposed to hours taken by human operator, which also delimits the data variance. Rapid developments and increasing bridge construction in several regions is shaping the global bridge inspection services market outlook. Strong bridges tend to ease the transportation activities which is beneficial to the global economy and increases the adoption of cable stayed and suspension bridges.
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Key Takeaways from Market Study
- The bridge inspection service market in North America is expected to increase at valuation of US $ 1,168.5 million in 2022.
- The market witnessed 6% CAGR between 2017 and 2021.
- Transportation over bridge in bridge category segment dominates the market with US$ 3 million valuations in 2022.
- Under testing, concrete attributes in structure dominates the market and are valued at US$ 5 million in 2022.
- Based on country, demand for bridge inspection service expected to increase at CAGR of 6% in U.S. during the forecast period.
“Market Players are Developing Collaboration with Government to Create Consistency in Revenue Generation,” says a Fact.MR analyst.
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Compared to conventional inspection equipment, drones are able to gather much more thorough inspection data. In addition, drones can quickly gather high-definition images and visual data from inaccessible locations like the underside of bridges and along the beams. Thereby, drones to find widespread adoption in bridge inspection services market.
Real-time color-coding of the bridge is created from the readings by a machine-learning algorithm, highlighting any weak spots. Inspectors receive these results so they can monitor the robot as it makes its rounds. These robots lower the cost of inspection and also lessen human error. Owing to robust offerings, the integration of automated bridge inspection services is expected to gain higher traction in infrastructure driven geographies.
Technological advancement has been strategic priorities for market players, along with other organic market play approach such as development partnerships, collaborations and joint ventures. As number of bridges are rapidly increase so as the inspection service providers are increasing, changing the competitive landscape of the market.
Improvements in image processing and machine learning are anticipated to offer lucrative opportunities for bridge inspection service providers. The global market for bridge inspection service market will surpass US $ 6,836.8 million in market value by 2032.
More Valuable Insights on Offer
Principal inspection services are predicted to grow about 1.2X more quickly than superficial/initial inspection during the forecast period.
- Short Term (2022 Q2 to 2025): Bridge deterioration will positively impact bridge inspection service market growth.
- Medium Term (2025-2028): U.S. and China are projected to witness comparatively high bridge inspection service demand due to increasing investments in infrastructure development.
- Long Term (2028-2032): Integration of technological advancement to open opportunities for bridge inspection service market.
From 2017 to 2021, the global market for bridge inspection service registered a CAGR of 2.6%. Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 3% CAGR between 2022 and 2032.
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