The global structural health monitoring market size reached US$ 2.2 Billion in 2023. Looking forward, the market is expected to reach US$ 5.9 Billion by 2032, exhibiting a growth rate (CAGR) of 11.6% during 2023-2032.
Structural health monitoring (SHM) refers to the process of observing and scanning 3D, aerospace, civil, mechanical and infrastructural structures to detect faults and abnormalities. The information is collected through multiple sensors that transmit continuous data throughout the service life of the structure. It involves the use of non-destructive acoustic emission, ultrasonic and thermal imaging technologies to prevent any anomalies caused by deterioration, incorrect construction, lack of quality control or excessive accidental or environmental load. SHM is widely used for bridges, power and wind energy plants, water, gas and oil pipelines, tunnels, rigs and pavements. It is also utilized for detecting internal or external wear and malfunction in marine vessels, aircraft and heavy commercial automobiles.
Contractors are also able to utilize SHM solutions for remote monitoring of construction processes to exercise control over quality. Additionally, various technological advancements, such as the integration of innovative communication modules and data acquisition systems for the processing and analysis of information, are acting as other growth-inducing factors.
These solutions enable the consumers to include electrical, magnetic, thermal, physical and chemical variables for improved analysis of the structural health. Other factors, including the implementation of favorable government policies to promote public safety, along with extensive infrastructural development, especially in the emerging economies, are anticipated to drive the market toward growth.
2. What is the expected growth rate of the global structural health monitoring market during 2024-2032?
3. What are the key factors driving the global structural health monitoring market?
4. What has been the impact of COVID-19 on the global structural health monitoring market?
5. What is the breakup of the global structural health monitoring market based on the component?
6. What is the breakup of the global structural health monitoring market based on the technology?
7. What is the breakup of the global structural health monitoring market based on the vertical?
8. What are the key regions in the global structural health monitoring market?
9. Who are the key players/companies in the global structural health monitoring market?
Structural health monitoring (SHM) refers to the process of observing and scanning 3D, aerospace, civil, mechanical and infrastructural structures to detect faults and abnormalities. The information is collected through multiple sensors that transmit continuous data throughout the service life of the structure. It involves the use of non-destructive acoustic emission, ultrasonic and thermal imaging technologies to prevent any anomalies caused by deterioration, incorrect construction, lack of quality control or excessive accidental or environmental load. SHM is widely used for bridges, power and wind energy plants, water, gas and oil pipelines, tunnels, rigs and pavements. It is also utilized for detecting internal or external wear and malfunction in marine vessels, aircraft and heavy commercial automobiles.
Structural Health Monitoring Market Trends:
The increasing requirement for standardization and automation for the repair and maintenance of civil and infrastructural constructions is one of the key factors driving the market growth. Due to rapid digitization and the advent of smart sensors, SHM is widely used for the design, analysis, and maintenance of modern civil engineering structures and systems.Contractors are also able to utilize SHM solutions for remote monitoring of construction processes to exercise control over quality. Additionally, various technological advancements, such as the integration of innovative communication modules and data acquisition systems for the processing and analysis of information, are acting as other growth-inducing factors.
These solutions enable the consumers to include electrical, magnetic, thermal, physical and chemical variables for improved analysis of the structural health. Other factors, including the implementation of favorable government policies to promote public safety, along with extensive infrastructural development, especially in the emerging economies, are anticipated to drive the market toward growth.
Key Market Segmentation:
This report provides an analysis of the key trends in each sub-segment of the global structural health monitoring market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on component, technology, implementation method and vertical.Breakup by Component:
- Hardware
- Software
- Services
Breakup by Technology:
- Wired
- Wireless
Breakup by Implementation Method:
- New Construction
- Retrofitting
Breakup by Vertical:
- Civil Infrastructure
- Aerospace and Defense
- Energy
- Mining
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Acellent Technologies Inc., Bridge Diagnostics Inc., Campbell Scientific Inc., COWI A/S, Digitexx Data Systems Inc., FEAC Engineering, HBK - Hottinger Brüel & Kjær (Spectris plc), James Fisher and Sons plc, National Instruments Corporation, RST Instruments Ltd., Sisgeo S.r.l. and Sixense Enterprises Inc.Key Questions Answered in This Report
1. What was the size of the global structural health monitoring market in 2023?2. What is the expected growth rate of the global structural health monitoring market during 2024-2032?
3. What are the key factors driving the global structural health monitoring market?
4. What has been the impact of COVID-19 on the global structural health monitoring market?
5. What is the breakup of the global structural health monitoring market based on the component?
6. What is the breakup of the global structural health monitoring market based on the technology?
7. What is the breakup of the global structural health monitoring market based on the vertical?
8. What are the key regions in the global structural health monitoring market?
9. Who are the key players/companies in the global structural health monitoring market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Structural Health Monitoring Market
6 Market Breakup by Component
7 Market Breakup by Technology
8 Market Breakup by Implementation Method
9 Market Breakup by Vertical
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Acellent Technologies Inc.
- Bridge Diagnostics Inc.
- Campbell Scientific Inc.
- COWI A/S
- Digitexx Data Systems Inc.
- FEAC Engineering
- HBK – Hottinger Brüel & Kjær (Spectris plc)
- James Fisher
- Sons plc
- National Instruments Corporation
- RST Instruments Ltd.
- Sisgeo S.r.l.
- Sixense Enterprises Inc
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 136 |
| Published | September 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 2.2 Billion |
| Forecasted Market Value ( USD | $ 5.9 Billion |
| Compound Annual Growth Rate | 11.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
