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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Key Takeaways from the report:
- 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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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)
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)
- Energy Infrastructure
- Water & Waste Infrastructure
- Critical Infrastructure
Infrastructure Asset Management (IAM) Region Outlook (Revenue, USD Million; 2014 – 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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