Structural health monitoring (SHM) is a crucial practice in civil engineering, offering real-time insights into the condition of structures such as buildings, bridges, and dams. SHM applications include detecting potential defects, assessing structural integrity, and ensuring safety. Key features of structural health monitoring encompass sensors, data acquisition systems, and analytical software, providing continuous monitoring. Uses range from assessing the impact of environmental factors on infrastructure to early warning systems for maintenance and disaster prevention. SHM enhances safety, minimizes repair costs, and prolongs the lifespan of critical structures, making it indispensable in modern engineering and construction.
According to Data Bridge Market Research, the Global Structural Health Monitoring Market is expected to reach USD 10,270.54 thousand by 2030. The market is expected to grow with a CAGR of 17.9% in the forecast period of 2023 to 2030.
“Increasing infrastructural development worldwide boosts the market’s growth”
The global structural health monitoring market is experiencing robust growth, primarily due to the increasing infrastructural development worldwide. As countries invest heavily in constructing buildings, bridges, dams, and other critical infrastructure, the demand for structural health monitoring solutions rises. These technologies ensure the safety and integrity of structures by continuously monitoring their conditions. With a growing emphasis on safety and longevity in construction projects, the adoption of structural health monitoring systems is on the upswing, contributing significantly to market expansion.
What restraints the growth of the global structural health monitoring market?
“High installation and monitoring costs associated restraints the market’s growth”
The growth of the structural health monitoring market faces a significant restraint in the form of high installation and monitoring costs. Implementing comprehensive structural health monitoring systems often requires substantial upfront investments in equipment, sensors, and skilled personnel. Additionally, ongoing monitoring and maintenance expenses can be substantial. These costs can deter potential adopters, particularly in budget-constrained sectors or regions, limiting the market's growth potential. Finding cost-effective solutions and improving ROI will be crucial for the broader adoption of structural health monitoring technologies in various industries.
Segmentation: Global Structural Health Monitoring Market
The global structural health monitoring market is segmented on the basis of type, connectivity, installation, method, application, and end user.
- On the basis of type, the global structural health monitoring market is segmented into hardware, software, and services.
- On the basis of connectivity, the global structural health monitoring market is segmented into wired and wireless.
- On the basis of installation, the global structural health monitoring market is segmented into new installation and retrofit.
- On the basis of method, the global structural health monitoring market is segmented into visual inspection and non-destructive evaluation.
- On the basis of application, the global structural health monitoring market is segmented into damage detection, crack detection, strain monitoring, wire break monitoring, leakage detection, multimodal sensing, corrosion monitoring, hotspot monitoring, impact monitoring, and deflection monitoring.
- On the basis of end user, the global structural health monitoring market is segmented into civil, aerospace, energy, mining, marine, industrial, offshore platform, defense, school, public park and recreation, automotive, and others.
Regional Insights: North America dominates the Global Structural Health Monitoring Market
North America is dominating due to its largest consumer market status and high GDP. The presence of key industry players and ongoing technological advancements in the field create a favorable environment for expansion, as the country continues to invest in advanced monitoring solutions to ensure the safety and longevity of its infrastructure.
Recent Developments
- In May 2021, Sisgeo S.r.l. unveiled the MD-Profile gauges, enhancing the company's product offerings to cater to geotechnical and structural applications requiring precise vertical or horizontal profiling.
- In November 2020, HBK recently updated and technically enhanced its compressive force transducer, the C10. This refinement aims to boost cost efficiency while ensuring increased precision. As a result, the product has become an ideal solution for demanding applications in test branches, laboratories, and production settings.
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The Prominent Key Players Operating in the Global Structural Health Monitoring Market Include:
- GEOKON (U.S.)
- Campbell Scientific, Inc. (U.S.)
- SIXENSE Systems (France)
- Kinemetrics (U.S.)
- Digitexx Data Systems, Inc. (U.S.)
- NATIONAL INSTRUMENTS CORP. (U.S.)
- OSMOS Group SA (France)
- HBK (Germany)
- Nova Ventures (U.S.)
- Acellent Technologies Inc. (U.S.)
- James Fisher and Sons plc. (U.K.)
- SODIS Lab (France)
- GoeSIG Ltd (U.K.)
- STRUCTURAL MONITORING SYSTEMS PLC. (U.K.)
- FEAC Engineering (U.S.)
- Xylem Inc. (U.S.)
- Sisgeo S.r.l. (Italy)
- FIRST SENSOR AG (Germany)
- Digitex (U.S.)
- Geomotion Singapore (Singapore)
- COWI A/S (Denmark)
Above are the key players covered in the report, to know about more and exhaustive list of global structural health monitoring market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Structural Health Monitoring Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
