Europe 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 (Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Russia, Turkey, Belgium, Rest of Europe) Industry Trends and Forecast To 2028.
Market Analysis and Insights: Europe Structural Health Monitoring Market
Europe 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 17.2% in the forecast period of 2021 to 2028 and is expected to reach USD 1,979.80 million by 2028. Rise in demand for digitalization content in construction sector is expected to drive the market’s 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.
It 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 market 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 market 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.
Structural Health Monitoring Market Scope and Market Size
Europe structural health monitoring market is segmented into six notable segments 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 demand for structural health monitoring hardware in critical structures. However, the high capital investment hinders 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 increased demand for low-cost structural health monitoring systems and to avoid problems caused because of wireless networking. However, the technological risks involved in the installation of the system may hinder the segment’s growth.
- On the basis of installation type, the structural health monitoring market is segmented into new installation and retrofit. In 2021, a new installation segment is expected to dominate the market due to the increasing demand for application of structural health monitoring systems in each newly installed critical structure. However, the high cost of installation may hinder the segment’s growth.
- On the basis of method, the structural health monitoring market is segmented into visual inspection and non-destructive evaluation (NDE). In 2021, visual inspection segment is expected to dominate the market due to the reduced technological complexities in visual inspection. However, the risks involved in data insufficiency 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, the damage detection segment is expected to dominate the market due to the increased need for damage detection equipment to analyze critical structures such as bridges and dams. However, the high cost of the system may hinder the segment’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, the civil segment is expected to dominate the structural health monitoring market due to early detection of damages in critical civil structures. However, the technological risks associated with the installation of the system may hinder the segment’s growth.
Structural Health Monitoring Market Country Level Analysis
The structural health monitoring market is analyzed and market size information is provided by the country, type, connectivity, installation type, method, application, and end user as referenced above.
The countries covered in the structural health monitoring market report are the Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, and Rest of Europe.
The Germany is expected to dominate the European region, due to the technological advancements of the construction sector there.
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 Europe 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.
Rise in Technological Advancement to Increase Vehicle Performance is Boosting the Market Growth of Structural Health Monitoring Market
The 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 2011 to 2020.
Competitive Landscape and 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, Digitexx Data Systems, Inc., NATIONAL INSTRUMENTS CORP., OSMOS Group SA, HBK, James Fisher and Sons plc., SODIS Lab, GoeSIG Ltd, STRUCTURAL MONITORING SYSTEMS PLC., FEAC Engineering, Xylem Inc., Sisgeo S.r.l., FIRST SENSOR AG, Digitex, 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.
For instance,
- 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 companies 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.
Customization Available: Europe Structural Health Monitoring Market
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