Global Smart Concrete Market: Overview
Smart concrete technology is a new alternative method for monitoring the health of reinforced concrete structures. It was developed Dr. Deborah D.L. Chung from State University of New York at Buffalo, U.S. The unique perceived benefit of smart concrete is that it is fortified by carbon fiber, which comprises as much as 0.2% to 0.5% of the volume. It can detect stress or strain in concrete structures before it gets too late. The smart concrete technology has undergone extensive laboratory testing, but is yet to hit the market.
It works by adding a small quantity of short carbon fiber to concrete with a conventional concrete mixer to modify the electrical resistance of concrete in response to strain or stress. As a result, the contact between the fiber and cement matrix is impacted when the concrete is deformed or stressed, thereby affecting the volume electrical resistivity of the concrete. The strain is then uncovered by measuring the degree of electrical resistance. Smart concrete is capable of sensing miniscule structural flaws before they become substantial and hence find application in checking the internal condition of structures, particularly after an earthquake.
In the report, Transparency Market Research provides a detailed analysis of the potential of the global smart concrete market. The report analyzes the different potential market drivers and restraints by gathering inputs from various people having in-depth knowledge of the technology.
Global Smart Concrete Market: Trends and Opportunities
One factor slated to contribute to the global smart concrete market is the widespread use of concrete as a composite material for various types of structures and its inability to withstand tension, resulting in cracks easily. This necessitates monitoring them for cracks so as to prevent them from getting worse by timely repair. This, in turn, helps to ensure safety and durability of various structures. Other methods to evaluate cracks are by attaching or embedding sensors into structures. Sensors, however, cost more to install. Smart concrete is relatively cheaper. This is another factor that would likely drive its market.
The supercharged growth in the smart buildings market in the upcoming years would also help in the quick uptake of smart concrete. This is because in addition to their basic functionality of detecting minor cracks, smart concrete also helps to arrest the progress of cracks in conventional concrete and reinforce them to make them stronger. Further, it takes a lot of force for smart concrete to bend, and it soaks more energy before fracture. Smart concrete can also have application in building highways for they would help in weighting vehicles plying on them. A highway constructed using smart concrete would be able to detect the position, weight, and speed of vehicles.
Global Smart Concrete Market: Regional Outlook
The report studies the potential market for smart concrete by segmenting it based upon geography and then attempts to gauge the opportunity in each region. Advanced economies in North America and Europe, which have been at the forefront of adopting latest technologies, would likely emerge as prominent markets for smart concrete. Asia Pacific, powered by densely populated, emerging economies such as China and India where construction activities are being conducted full-throttle, also spells solid potential.
Companies Mentioned in Report
To present an in-depth assessment of the potential competition in the smart concrete market, the report attempts to gauge the strategies that would be adopted by players wanting to foray into the market. Leading companies operating in the global concrete and cement market would likely lap up the opportunity presented by the new technology to further enhance their product offerings.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.