The global infrastructure asset management market size was USD 31.72 billion in 2022 and is likely to reach USD 68.89 billion by 2031, expanding at a CAGR of 9% during 2023 – 2031. The growth of the market is attributed to the vast adoption of its services to reduce the maintenance and procurement costs of infrastructure.
Infrastructure asset management (IAM) is a multidisciplinary and integrated set of strategies for maintaining public infrastructure assets, such as bridges, roads, sewer lines, water treatment facilities, utility grids, and railways.
IAM primarily uses software-based tools to implement and organize various techniques with the primary purpose of extending and preserving the service life of long-term infrastructure assets that are critical components in maintaining the economy's efficiency and quality of life.
The COVID-19 pandemic outbreak has brought a negative impact on the market. During the pandemic, lockdown imposed by governments led to discontinuation of supply and demand chain, which deflated the industry growth and functioning. The market is expected to recover by the end of 2021 as organizations are resuming their operations from industries and office.
Market Trends, Drivers, Restraints, and Opportunities
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Adoption of technologies such as Artificial Intelligence and the Internet of Things is one of the key factors driving the market growth.
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Growing preference for sustainable development and renewable energy projects is expected to boost the market growth in the coming years.
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Growing infrastructure for transportation and supply chain management is anticipated to fuel the market expansion during the projected timeline.
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Lack of adequate platform in emerging economies and high cost of the software is likely to hinder the market growth during the forecast period.
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Huge investments by key players and lucrative government incentives for the development of IAM is to create a significant growth opportunity for the market in the near future.
Scope of the Report
The report on the global infrastructure asset management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Infrastructure Asset Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Critical Infrastructure, Water & Waste Infrastructure, Transportation, Energy Infrastructure, and Others), Services (Operational Asset Management, Tactical Asset Management, and Strategic Asset Management), and Components (Services and Solutions)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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SIMCO Technologies; WS Atkins Ltd.; RPS Group Plc.; WSP Global Inc.; Brookfield Asset Management Inc.; Pitney Bowes Inc.; Aabasoft; ThomasLloyd Group; EverStream Capital Management; and Macquarie Group Ltd.
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Market Segment Insights
Transportation segment is expected to grow at a rapid pace
Based on applications, the global infrastructure asset management market is divided into critical infrastructure, water & waste infrastructure, transportation, energy infrastructure, and others. The transportation segment is expected to grow at a rapid pace during the forecast period owing to government initiatives for enhancing transportation activities.
However, the water & waste segment is anticipated to hold a key share of the market in the coming years due to stringent government policies for implementing waste & water management in several cities.
Wide usage in energy sector to drive operational asset management
In terms of services, the market is segregated into operational asset management, tactical asset management, and strategic asset management. The operational asset management segment is projected to expand at a considerable CAGR during the forecast period attributed to the wide adoption and usage of IAM in energy sector.
On the other hand, the strategic asset management segment is anticipated to account for a major market share during the forecast period due to the increase in popularity and involvement of design, development, planning, and maintenance of infrastructure.
Service segment is anticipated to hold significant market share
On the basis of components, the global infrastructure asset management market is bifurcated into services and solutions. The service segment is anticipated to hold significant market share in the coming years owing to package it offers, such as support and maintenance, which makes it cost-effective.
However, the solution segment is expected to register a considerable CAGR during the forecast period due to features, such as combined and systematic approaches for the management of various infrastructure in several sectors, such as energy, water, and waste.
North America is anticipated to constitute a key market share
In terms of regions, the global infrastructure asset management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period attributed to the rise in need to augment asset utilization simultaneously minimizing the operational costs in the region.
However, Asia Pacific market is anticipated to expand at a rapid pace during the forecast period owing to regional spending on infrastructure by governments and key players.
Segments
The global infrastructure asset management market has been segmented on the basis of
Applications
- Critical Infrastructure
- Water & Waste Infrastructure
- Transportation
- Energy Infrastructure
- Others
Services
- Operational Asset Management
- Tactical Asset Management
- Strategic Asset Management
Components
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- SIMCO Technologies
- WS Atkins Ltd.
- RPS Group Plc.
- WSP Global Inc.
- Brookfield Asset Management Inc.
- Pitney Bowes Inc.
- Aabasoft
- ThomasLloyd Group
- EverStream Capital Management
- Macquarie Group Ltd.
Competitive Landscape
Key players competing in the global infrastructure asset management market are SIMCO Technologies; WS Atkins Ltd.; RPS Group Plc.; WSP Global Inc.; Brookfield Asset Management Inc.; Pitney Bowes Inc.; Aabasoft; ThomasLloyd Group; EverStream Capital Management; and Macquarie Group Ltd.
As part of their efforts to grow their client base and acquire a competitive advantage over competitors, manufacturers operating in the market are adopting various strategic initiatives such as partnerships, collaborations, mergers & acquisitions, and new product development.
For instance, In April 2019, WS Atkins Limited was offered a contract for implementation of flood risk management solutions for infrastructure of Texas government.
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