Structural Health Monitoring Trends and Forecast
The future of the global structural health monitoring market looks promising with opportunities in the civil infrastructure, aerospace & defense, energy and mining markets. The global structural health monitoring market is expected to reach an estimated $4.4 billion by 2030 with a CAGR of 13.4% from 2024 to 2030. The major drivers for this market are growing importance of automated maintenance and repair of critical infrastructures, government efforts to standardize SHM systems and improve public safety are growing, and rapid growth within the infrastructure industry.Structural Health Monitoring by Segment
The study includes a forecast for the global structural health monitoring by offering, technology, end use, and region.Structural Health Monitoring Market by Offering [Shipment Analysis by Value from 2018 to 2030]:
- Hardware
- Software & Services
Structural Health Monitoring Market by Technology [Shipment Analysis by Value from 2018 to 2030]:
- Wired
- Wireless
Structural Health Monitoring Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
- Civil Infrastructure
- Aerospace & Defense
- Energy
- Mining
- Others
Structural Health Monitoring Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Structural Health Monitoring Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies structural health monitoring companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the structural health monitoring companies profiled in this report include:- Nova Metrix
- GEOKON
- Campbell Scientific
- COWI
- Geocomp
- Acellent Technologies
- Sixense
- Pure Technologies
- Structural Monitoring Systems
- Digitexx
Structural Health Monitoring Market Insights
The publisher forecasts that wired will remain the larger segment over the forecast period due to less data loss, faster speed of operation, no limit on the range of transmission and a higher system bandwidth.North America is expected to witness highest growth over the forecast period due to significant market participants' presence in the biggest consumer market with the highest GDP, as well as, rise in technological advancement in the United States.
Features of the Global Structural Health Monitoring Market
- Market Size Estimates: Structural health monitoring market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Structural health monitoring market size by offering, technology, end use, and region in terms of value ($B).
- Regional Analysis: Structural health monitoring market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different offering, technology, end use, and regions for the structural health monitoring market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the structural health monitoring market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the structural health monitoring market size?Answer: The global structural health monitoring market is expected to reach an estimated $4.4 billion by 2030.
Q2. What is the growth forecast for structural health monitoring market?
Answer: The global structural health monitoring market is expected to grow with a CAGR of 13.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the structural health monitoring market?
Answer: The major drivers for this market are growing importance of automated maintenance and repair of critical infrastructures, government efforts to standardize SHM systems and improve public safety are growing, and rapid growth within the infrastructure industry.
Q4. What are the major segments for structural health monitoring market?
Answer: The future of the global structural health monitoring market looks promising with opportunities in the civil infrastructure, aerospace & defense, energy and mining markets.
Q5. Who are the key structural health monitoring market companies?
Answer: Some of the key structural health monitoring companies are as follows:
- Nova Metrix
- GEOKON
- Campbell Scientific
- COWI
- Geocomp
- Acellent Technologies
- Sixense
- Pure Technologies
- Structural Monitoring Systems
- Digitexx
Answer: The publisher forecasts that wired will remain the larger segment over the forecast period due to less data loss, faster speed of operation, no limit on the range of transmission and a higher system bandwidth.
Q7. In structural health monitoring market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to significant market participants' presence in the biggest consumer market with the highest GDP, as well as, rise in technological advancement in the United States.
Q8. Do we receive customization in this report?
Answer: Yes, the publisher provides 10% customization without any additional cost.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the structural health monitoring market by offering (hardware and software & services), technology (wired and wireless), end use (civil infrastructure, aerospace & defense, energy, mining, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Structural Health Monitoring Market : Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Nova Metrix
- GEOKON
- Campbell Scientific
- COWI
- Geocomp
- Acellent Technologies
- Sixense
- Pure Technologies
- Structural Monitoring Systems
- Digitexx
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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