The global Smart Bridge market has recorded annual revenue of $475.81 million in 2017 and is estimated to grow at a CAGR of 24.63% during the forecast period 2018-2023. Mineral salt is the single largest segment in the Smart Bridge market in the perspective of ingredient type. The revenue of mineral salt is $527.4 million in 2017 and is expected to grow at a CAGR of 12.3% during 2018 to 2023.
What is Smart Bridge?
Smart bridge is a type of smart infrastructure incorporated with multiple sensing or data acquisition hardware to monitor various parameters including traffic influx, load on the bridge, stress induced on pillars or strain on the suspension cables, thermal stress and so on. The data so collected is processed by a central control unit for traffic management and condition monitoring. On the occurrence of any failure symptoms on the bridge the system detects location of critically so that it can be subjected to proper maintenance and prevents catastrophic failure.
Market Research and Market Trends of Smart Bridge
- The growing adoption of IoT across the globe is leading to the deployment of smart cities which includes smart infrastructures such smart bridges, smart buildings and so on. The smart bridges incorporates various sensors for acquisition real time structural and bridge traffic data. This is further processed it monitor the structure integrity of the bridge and deploy maintenance and repair operations when required thereby reducing the cost of regular inspection and maintenance. A number of companies such as Cisco, IBM have deployed connected transportation solutions.
- With the increase in the disposable income of people in developed and developing economies the number of personal vehicles is increasing drastically. This is leading to high traffic influx in bridges thereby necessitating the demand for intelligent traffic monitoring. Smart bridges incorporate intelligent transport system which assists in efficient traffic monitoring and management
Who are the Major Players in Smart Bridge Market?
The companies referred in the market research report include Cargill Inc. (U.S.), Royal DSM N.V. (The Netherlands), Ajinomoto Co Inc. (Japan), Jungbunzlauer AG (Switzerland), Innophos Holding Inc. (U.S.), and 10 others.
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