The latest report published by IMARC Group, titled “Structural Health Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on structural health monitoring market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global structural health monitoring market size reached US$ 2.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.9 Billion by 2032, exhibiting a growth rate (CAGR) of 11.3% during 2024-2032.
Structural health monitoring (SHM) is a crucial practice in civil engineering, aimed at developing a systematic approach for evaluating and maintaining the health of structures such as bridges, buildings, dams, and other infrastructures. It involves the continuous observation of a structure over time using periodically sampled response measurements from an array of sensors. These sensors collect data on various parameters, including stress, strain, vibration, temperature, and more, which are critical to understanding the structure's performance under normal and extreme environmental conditions. The primary goal of SHM is to ensure the safety and durability of structures while optimizing their maintenance and repair schedules. It enables engineers to detect damage before it becomes critical, thereby reducing repair costs, extending the structure's lifespan, and enhancing overall safety. Advanced SHM systems employ various technologies including acoustics, geomatics, fiber optics, and even artificial intelligence to interpret the collected data, identify potential problems, and recommend proactive maintenance strategies.
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Market Trends:
The global market for SHM is primarily driven by the growing emphasis on infrastructure safety, advancements in wireless sensor networks, and increasing investments in infrastructure and construction sectors. Moreover, the heightened awareness and regulatory focus on the safety and longevity of structures, particularly in the wake of catastrophic failures that have underscored the importance of early detection of structural problems. Governments worldwide are implementing stringent regulations mandating the use of SHM systems in various construction and infrastructure projects, which in turn propels the demand for these solutions. Furthermore, continual technological advancements play a crucial role in propelling the SHM market. The integration of innovative technologies like IoT, AI, and machine learning with traditional monitoring systems has significantly enhanced the efficiency, accuracy, and predictive capabilities of SHM systems. These technologies enable real-time monitoring and data analysis, predictive maintenance, and timely decision-making, thereby reducing maintenance costs and extending the lifespan of structures.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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.
- Sixense Enterprises Inc
Structural Health Monitoring Market Segmentation:
Our report has categorized the market based on region, 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)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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