What is Structural Health Monitoring Market?
Structural health monitoring is a tool that enables civil engineers to reduce maintenance costs and improve safety measures of crucial architectural structures. An SHM strategy consists of many important components including sensing network, data processing and analysis, damage assessment and decision making. SHM technology has great potential to offer significant economic and life-safety benefits. The implementation of health monitoring in various structures proves to be beneficial in numerous ways like providing enhanced public safety, improving the life span of structures, cutting costs, and early detection of risks thus helping in improving the overall performance of the structures, due to this the market has huge growth in the future.
Highlights from Structural Health Monitoring Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | National Instruments Corporation (United States), Sixense Systems (France), Digitexx Data Systems, Inc. (United States), Acellent Technologies, Inc.(United States), Strainstall UK Limited (United Kingdom), Nova Metrix LLC (United States), COWI A/S (France), Geocomp Corporation (United States) and Hottinger Baldwin Messtechnik GmbH (Germany) |
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Structural Health Monitoring market throughout the forecasted period.
National Instruments Corporation (United States), Sixense Systems (France), Digitexx Data Systems, Inc. (United States), Acellent Technologies, Inc.(United States), Strainstall UK Limited (United Kingdom), Nova Metrix LLC (United States), COWI A/S (France), Geocomp Corporation (United States) and Hottinger Baldwin Messtechnik GmbH (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are James Fisher and Sons plc (United Kingdom), Kinemetrics (United States) and Structural Monitoring Systems (Australia). Structural Health Monitoring Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Bridges & Dams, Buildings & Stadiums, Vessels & Platforms, Airframes & Wind Turbines and Large Machinery & Equipment |
Type | Wired SHM System and Wireless SHM System |
Component | Hardware,Software,Services |
On the basis of geography, the market of Structural Health Monitoring has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Use of Integrated Vehicle Health Management
Market Growth Drivers:
Growth in Infrastructure Investments and Increasing Concerns related to Natural Calamities
Challenges:
The Need for Data Processing and Management and Installation of a Large Number of Sensing Points For Large Complex Structures
Restraints:
High Installation Cost and Slow Growth in Developing and Under Developed Countries
Opportunities:
Increasing Government Initiatives towards SHM System and A Requirement of Wireless Sensor Technologies and RFIDs (Radio Frequency Identification)
Key Target Audience
Structural Health Monitoring System Manufacturer, Sensor Manufacturer, Government Bodies and Research Organisation and Construction Industry
Market Leaders & Development Strategies
On Nov 2018, COWI has entered into an agreement to acquire ARKITEMA ARCHITECTS, Denmark's biggest architectural practice for a three-digit million DKK amount. The aim is to develop even better, more aesthetic and integrated solutions within urban development, liveability, climate, and sustainability.