SMART BRIDGE MARKET ANALYSIS

Market Challenges And Opportunities

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.