Structural Health Monitoring Market Analysis Report 2022-2027 | Impelled by Rising Infrastructural Development Projects

According to the latest report by IMARC Group, titled "Structural Health Monitoring Market: 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) refers to the process of evaluating structural health and abnormalities in civil engineering structures and systems. It involves the utilization of characterization and damage detection techniques for monitoring critical structures like wind turbines, bridges and tunnels. Due to its ability to respond to adverse structural changes, life cycle management and improving structural reliability, there has been a significant increase in the adoption of SHM across various engineering sectors. The demand for the SHM process is increasing across the globe due to the rising need for preserving historical monuments and masonry towers situated across multiple countries.

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:

The global market is primarily driven by significant growth in the construction industry. Along with this, the increasing investments by private and public agencies in infrastructural development projects are providing a boost to the market growth. Since the SHM process offers a better understanding of structural behavior under dynamic loads and ensures better management in post-earthquake scenarios while supporting rescue operations, this is providing an impetus to the market. Moreover, continual technological advancements and the integration of the internet of things (IoT) and artificial intelligence (AI) with structural health monitoring systems that aid in delivering improved quality visualization of important field parameters at higher speed and scale are impacting the market favorably. Other factors, including rapid urbanization and industrialization, various favorable initiatives undertaken by the governments of numerous countries for implementing policies related to public safety, and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market.

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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.

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.

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