Press release
Structural Health Monitoring Market: Growing Demand For Installation And Maintenance of The Structural Health Monitoring Systems
Some of the prominent participants in the global structural health monitoring market are COWI A/S, Digitexx Data Systems, Inc., Wiss, Janney, Elstner Associates, Inc., ACELLENT TECHNOLOGIES, INC., National Instruments Corporation, ATKINS, Kinemetrics, Nova Metrix LLC, CTL Group, OSMOS Group, and First Sensor.
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As per a report by Transparency Market Research, the global structural health monitoring market will likely rise at a steady CAGR of 10.09% from 2017 to 2025. At this pace, the market which was worth US$1.57 mn in 2016 is expected to reach a value of US$4.09 mn by the end of the forecast period.
Solution-wise, the global structural health monitoring market can be divided into software, hardware, and services. The services segment of them grossed maximum revenue in 2016 owing to the rising demand for installation and maintenance of the structural health monitoring systems by various industries, worldwide. The services segment is predicted to clock maximum CAGR of 10.26% during the period between 2017 and 2025.
Geographically, the key segments of the global structural health monitoring market are North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Of them, Asia Pacific leads the market vis-à-vis growth rate. The market in the region is anticipated to rise at a 11.38% CAGR from 2017 to 2025 on the back of rapid development of infrastructure projects such as bridges, power plants, and smart cities. The nations of China and Japan are at the forefront of driving growth in Asia Pacific.
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Fuelling growth in the global structural health monitoring market is the thrust on infrastructural works worldwide. Government mandates regarding construction standards and safety of structures is leading to uptake of structural health monitoring. Thrust of governments worldwide on proper protection of heritage structures so as to boost tourism, is also proving beneficial to the market.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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