Global Structural Health Monitoring Market Overview:
According to the latest report by IMARC Group, titled “Structural Health Monitoring Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global structural health monitoring market reached a value of US$ 1.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2027, exhibiting at a CAGR of 14.5% during 2022-2027.
Structural health monitoring (SHM) helps in implementing a damage identification strategy for aerospace, mechanical, and civil engineering infrastructure. It relies on non-destructive acoustic emission and ultrasonic and thermal imaging technologies to prevent abnormalities caused by incorrect construction, deterioration, lack of quality control or excessive accidental or environmental load. As a result, SHM is widely utilized for bridges, power, and wind energy plants, water, gas and oil pipelines rigs, tunnels, and pavements across the globe
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Structural Health Monitoring Market Trends:
SHM finds application in civil engineering as it assists in improving the understanding of field structural behavior, detecting damages at an early age of problem initiation, reducing inspection and repair time, encouraging the use of innovative materials, and developing rational management and maintenance strategies. This, along with rapid digitization and the advent of smart sensors, represents one of the key factors bolstering market growth. Apart from this, numerous technological advancements, such as the integration of data acquisition systems and innovative communication modules, are contributing to market growth.
Global Structural Health Monitoring Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Acellent Technologies Inc.
- Bridge Diagnostics Inc.
- Campbell Scientific In
- 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.
Our report has categorized the market based on 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 (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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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