Originally published on Technavio.

Market Dynamics
Our analysts conducted an in-depth analysis, utilizing 2023 as the base year, to identify key drivers, trends, and challenges shaping the market landscape. Leveraging this comprehensive understanding, businesses can refine their marketing strategies to gain a competitive edge.

Market Driver
A pivotal factor propelling the market is the growing emphasis on building codes. Compliance with local and national building codes is imperative for property owners worldwide to avoid legal and regulatory repercussions. Ensuring adherence to these standards, established by industry associations and government authorities, known as "building code compliance," is essential. Non-compliance may lead to occupancy limitations or even the closure of buildings, underscoring the rising demand for compliance services to uphold structural integrity. Consequently, this trend is expected to fuel market expansion during the forecast period.

Market Trends
An emerging trend in the market is the increasing adoption of push piers and helical piers as long-term solutions for damaged foundations in buildings. These steel-supporting structures preserve building stability and prevent further damage, with installation typically completed within a few days. Push piers utilize hydraulic force to push large tubes into the ground beneath a building's foundation, while helical piers feature shafts with helical plates screwed into the ground. This trend is anticipated to positively impact market growth in the forecast period.

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Market Challenge
A significant challenge hindering market expansion is the credibility and reliability issues faced by companies. Ensuring consistent and reliable services fosters trust and encourages repeat engagement between companies and building owners. However, instances of unreliable service provision and poor-quality workmanship undermine market credibility. Moreover, concerns regarding the timeliness and expertise of service providers further exacerbate these challenges, potentially impeding market development.

Market Customer Landscape
The market forecasting report provides insights into the adoption lifecycle, from innovators to laggards, and evaluates adoption rates across different regions. Additionally, it outlines key purchase criteria and drivers of price sensitivity, enabling companies to devise effective market growth strategies.

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