Smart Bridge

Smart Bridge Market - Global Industry Insights, Trends, Outlook, and
Opportunity Analysis, 2018-2025
On the basis of geography, the global smart bridge market is segmented into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North
America held the dominant position in the market in 2017 and is projected to retain its
dominance throughout the forecast period. The U.S. and Canada are growth engines in
this region. Due to trend of early adoption of various technologies and high presence
of market players in this region are factors leading to growth of this regions.
International Business Machines Corporation, Honeywell International Inc., and Cisco
Systems, Inc. are some of the U.S.-based companies.
Furthermore, Asia Pacific is projected to exhibit the highest CAGR over the forecast
period. India, China, and Japan are some of the major countries, in this region.
Increasing investment in smart cities by governments is a major factor for growth of
the smart bridge market in Asia Pacific. For instance, in 2014, the Chinese Ministry of
Industry and Information Technology, announced funding of US$ 8.05 billion (50
billion yuan) for the development of smart city traffic systems and internet of things
(IoT).
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Smart bridges are technically advance bridges, which alerts the maintenance
department for any uncertainties such as issues with the structure, which could reduce
the risk of collapsing, prior to their occurrence. Real-time monitoring and inspection
system for bridge health condition is one of the major factors for growth of the smart
bridge market. Increasing investment for smart cities is one of the major factor for
growth of the market. For instance, according to the Indian government Union Budget
2018-19, the government has selected 99 cities under the smart city mission and will
provide a fund of US$ 3.1billion for the development of the cities. Hence, this
increasing funding for smart cities have also accelerated growth of the smart bridges
market. Furthermore, increasing incidence of bridge collapsing is also one of the
major factors, leading to increasing demand for smart bridges. With integration of
smart sensors in these bridges, it has reduced the need for inspection and increased
reliability of the diagnostic process, which has led to increasing life span of bridges,
thus reducing risk of collapsing incidences. For instance, Troja footbridge (Czech
Republic), Sigiri Bridge (Kenya), Sanvordem River Bridge (India), I-85N Atlanta
(U.S.), Pfeiffer Canyon Bridge (U.S.), Camerano overpass (Italy) are some of the
major bridges that collapsed in 2017.
Increasing sales of electric vehicle plays a major role in growth of the smart
bridge market
Increasing sales of electric vehicle is one of the factors for growth of the smart bridge
market. According to Coherent Market Insights’ analysis, around 962 thousand units
of electric cars have been sold, globally in 2017 up from 695 thousand units in 2016.
This increasing sale of electric cars has led to high demand for charging these vehicles
while driving. This has led to high demand for smart roads and smart bridges. For
instance, Sweden is the world’s first country that has constructed an electric road in
2016, a two kilometer strip on the E16 motorway near Gavle city in central Sweden.
Similarly, Israel has also started testing of wireless charging roads and bridges for
electric vehicles.
Based on technology, condition monitoring systems segment held the dominant
position in the market
Condition monitoring systems segment held the dominant position in the smart bridge
market in 2017 and is projected to retain its dominance throughout the forecast period.
Increasing demand for reducing maintenance and testing cost without compromising
the structural integrity of the bridge is expected to be a factor for growth of the
segment. Moreover, transportation & communication systems segment is projected to
exhibit the highest CAGR in the forecast period. Increasing vehicle traffic is one of
the major factor for growth of the transportation & communication system segment.
According to International Organization of Motor Vehicle Manufacturers, 1.3 billion
units of vehicles were in use as of 2015.
Based on sensor type, temperature sensors segment held the dominant position in
the market
On the basis of sensor type, temperature sensors segment held the dominant position
in the market and is projected to retain its dominance throughout the forecast period.
Due to various advantages such as high sensitivity, low cost, fast response, small size,
enhanced accuracy, and offering real-time data have led to growth of this segment in
the market.
Key Companies - Global Smart bridge Market
Some of the major companies in the global smart bridge market are Siemens AG,
International Business Machines Corporation, Honeywell International Inc., Cisco
Systems, Inc., Kapsch TrafficCom AG, Huawei Technologies Co., Ltd, Alcatel Lucent
S.A., Indra Sistemas, S.A, and LORD Corporation.
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The research report on smart bridge market categorizes the global market by technology (Transportation & Communication Systems and Condition Monitoring Systems), by sensors type (Accelerometers, Anemometer, Temperature Sensors, Strain Gauges, Weigh In Motion Sensors, Photonic Sensors, and Others), and by geography

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