Structural Health Monitoring Market, By Type (Hardware, Software and Services), Connectivity (Wired and Wireless), Installation Type (New Installation and Retrofit), Method (Visual Inspection and Non-destructive Evaluation (NDE)), Application (Damage Detection, Crack Detection, Strain Monitoring, Wire Break Monitoring, Leakage Detection, Multimodal Sensing, Corrosion Monitoring, Hotspot Monitoring, Impact Monitoring and Deflection Monitoring), End User (Civil, Aerospace, Energy, Mining, Marine, Industrial, Offshore Platform, Defense, Schools, Public Parks and Recreation, Automotive and Others), Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast To 2028.
Asia-Pacific structural health monitoring market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 18.1% in the forecast period of 2021 to 2028 and is expected to reach USD 1,997.33 million by 2028. Rise in standardization of safety standards and high number of seismic zones is driving the market growth.
Structural health monitoring (SHM) is the process of monitoring changes in the material and geometric qualities of engineering structures, such as, bridges and buildings over the time using periodically sampled response measurements. The output of this process is periodically updated information regarding the ability of the structure to perform its intended function in light of the inevitable aging and degradation resulting from operational environments for long term structural health monitoring. After extreme events, such as earthquakes or blast loading, structural health monitoring is used for rapid condition screening and aims to provide, in near real time, reliable information regarding the integrity of the structure.
Structural health monitoring offers the following numerous benefits to the customers: forecast and measures profits, Integrate and augment systems, track and measure construction activities, manage risk portfolio, boost revenue and enhance productivity, enable remote operations, reduce manual interactions, automate decisions, and others. Structural health monitoring simplifies communications between the system and the operators. It is helping the laborers to enhance their productivity and to optimize cost and operations.
Manufacturers are continuously trying to find ways to increase the precision of work, enhanced services, safety, and work with growing technology. The requirement for these reasons is being fulfilled by implementing structural health monitoring as they are used to provide enhanced, uninterrupted, free, and timely services at the end user applications. Structural health monitoring in the infrastructure industry is being used widely for structural health monitoring solutions and the rising adoption of digital technologies in the industrial sector. Structural health monitoring helps operators make better decisions around supply chain, machinery, assets performance, drilling, and others. The structural health monitoring market is expected to grow due to growing digitization in the construction industry.
The structural health monitoring report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Structural health monitoring scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific structural health monitoring market is segmented into six notable segments which are based on the type, connectivity, installation type, method, application, and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the structural health monitoring market is segmented into hardware, software and services. In 2021, the hardware segment is expected to dominate the market, due to the increasing automation and standardization of civil infrastructures, thereby increasing the demand for hardware components acts as a driving factor for the market. However, the lack of user friendly structural health monitoring hardware systems hinders the market growth.
- On the basis of connectivity, the structural health monitoring market is segmented into wired and wireless. In 2021, the wired segment is expected to dominate the market due to the reduction in problems caused due to connectivity. However, the risks involved in installation of the system hinders the market growth.
- On the basis of installation type, the structural health monitoring market is segmented into new installation and retrofit. In 2021, the new installation segment is expected to dominate the market due to the increased need and availability of structural health monitoring devices in new critical structures. However, the risks involved in the implementation of the systems hinders the market growth.
- On the basis of method, the structural health monitoring market is segmented into visual inspection and non-destructive evaluation (NDE). In 2021, the visual inspection segment is expected to dominate the market due to its reduced damage of critical structures while inspection is carried out. However, the risk involved in inspection guidance and demand for a high degree of expertise may hinder the segment’s growth.
- On the basis of application, the 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. In 2021, damage detection is expected to dominate the market as the development of new technologies in damage detection, such as developing a computer-vision-based real-time damage detection system capable of processing big data related to pathology recognition instead of traditional non-destructive testing methods, is expected to drive the segment’s growth. However, disruption in the signal processing may restrain the segment’s growth’s growth.
- On the basis of end user, the structural health monitoring market is segmented into civil, aerospace, energy, mining, marine, industrial, offshore platform, defense, schools, public parks and recreation, automotive and others. In 2021, civil segment is expected to dominate the market, due to the improved analysis of strength, stiffness, yield capacity, bendability, and resistance against corrosion, impact, lightning, and fatigue drives the market. However, the reduced accuracy in error detection, while using wireless systems may hinder the segment’s growth.
Asia-Pacific Structural health monitoring Country Level Analysis
The structural health monitoring market is analyzed and market size information is provided by the country, product type, distribution channel and application as referenced above.
The countries covered in the structural health monitoring market report are China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, and Rest of Asia-Pacific.
China is expected to dominate the market, due to growing infrastructure, and large population.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Structural Health Monitoring Equipment is Boosting the Market Growth of Asia-Pacific Structural Health Monitoring
The Asia-Pacific structural health monitoring market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.
Competitive Landscape and Asia-Pacific Structural Health Monitoring Market Share Analysis
Structural health monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to structural health monitoring market.
Some of the major players operating in the structural health monitoring market are GEOKON, Campbell Scientific, Inc., SIXENSE Systems, Kinemetrics, OSMOS Group SA, HBK, James Fisher and Sons plc., GoeSIG Ltd, STRUCTURAL MONITORING SYSTEMS PLC., Xylem Inc., Sisgeo S.r.l., FIRST SENSOR AG, Geomotion Singapore, COWI A/S among others.
Many contracts and agreements are also initiated by the companies’ worldwide which are also accelerating the structural health monitoring market.
- In May 2021, NATIONAL INSTRUMENTS CORP. acquired Monodrive to accelerate its vehicle development. Monodrive excels in signal processing. There is a strategic collaboration with Ansys, the global leader in engineering simulations. The company is benefitted by this acquisition because the company’s expand in the ADAS & simulation markets.
- In September 2021, COWI A/S executed Hising Bridge which crosses the river Göta Älv in Gothenburg and forms the new link between the mainland and Hisingen. This project execution has improved the recognition of the company Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company footprints in the Structural health monitoring which also provides the benefit for organization’s profit growth.
Customization Available: Asia-Pacific Structural Health Monitoring Market
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