Rising Demand for Safety and Security Driving the Growth of the Global Structural Health Monitoring Market

[San Francisco, USA] - As per the latest market research report added on Trouve360Reports, the global Structural Health Monitoring (SHM) market is anticipated to witness significant growth during the forecast period of 2023-2029. The report provides a comprehensive analysis of the market trends, growth drivers, challenges, and opportunities that are expected to impact the market in the coming years.

Structural Health Monitoring (SHM) is a technology that is used to detect and assess structural damage and deterioration in infrastructure such as buildings, bridges, and aircraft. The technology is capable of identifying defects in real-time, enabling operators to take corrective measures before catastrophic failures occur. SHM systems are widely used in aerospace and defense, civil infrastructure, and energy industries.

The global Structural Health Monitoring market is expected to grow at a significant CAGR during the forecast period, owing to the increasing demand for safety and security in various industries. The increasing investments in the construction and infrastructure sectors in emerging economies, coupled with the need for regular maintenance of aging structures, are driving the growth of the market. Moreover, the growing awareness of the benefits of SHM systems in improving the operational efficiency of infrastructure is also expected to drive market growth.

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The growth of the global Structural Health Monitoring market is primarily driven by the following factors:

• Increasing demand for safety and security in various industries

• Growing investments in the construction and infrastructure sectors in emerging economies

• Need for regular maintenance of aging structures

• Growing awareness of the benefits of SHM systems in improving the operational efficiency of infrastructure

The key players in the global Structural Health Monitoring market include SGS Société Générale de Surveillance SA, COWI A/S, GEOKON, Campbell Scientific, Inc., Nova Ventures, NATIONAL INSTRUMENTS CORP., Digitexx Data Systems, Inc., Acellent Technologies, Inc., Geocomp Corporation, HBM, James Fisher and Sons plc, Kinemetrics, Sixense, Xylem, Inc., LiveHooah Technologies Pvt. Ltd., SignaGuard, LLC., STRUCTURAL MONITORING SYSTEMS PLC., and First Sensor AG.

The global Structural Health Monitoring market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is expected to hold the largest market share during the forecast period, owing to the presence of major players and the increasing investments in the aerospace and defense and civil infrastructure sectors. The Asia-Pacific region is also expected to witness significant growth, owing to the increasing investments in infrastructure development in countries such as China and India.

The global Structural Health Monitoring market is expected to witness significant growth during the forecast period of 2023-2029, owing to the increasing demand for safety and security in various industries, growing investments in the construction and infrastructure sectors in emerging economies, and the need for regular maintenance of aging structures. The market is highly competitive, with the presence of several key players. The report provides a detailed analysis of the market trends, growth drivers, challenges, and opportunities, along with the key players operating in the market.

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