The infrastructure asset management (IAM) market is expected to double by 2025, a new report by Grand View Research reveals.
The market size was valued at $22.6 billion in 2018. According to the study, it is expected to reach $41.04 billion in the next six years.
Among the findings, the research states that North America in particular will witness significant growth due to the growing need to increase asset utilization while reducing operating costs.
Transportation infrastructure has captured a major market share and road infrastructure management is expected to increase. In addition, the energy and water infrastructure sectors are seeing more promotion by city officials and government agencies.
The study also revealed a list of key players in the IAM market. These include WSP Global, RPS Group, Brookfield Asset Management, Macquarie Group, SIMCO Technologies, Pitney Bowes and WS Atkins.
Read more about the report here.
