Structural Health Monitoring (SHM) Market Is Projected To Reach $3,815.1 Million By 2027, Registering A CAGR Of 14.5% From 2020 To 2027

The global structural health monitoring market size was valued at $1,674.0 million in 2019 and is projected to reach $3,815.1 million by 2027, registering a CAGR of 14.5% from 2020 to 2027.

As a fascinating new area of civil engineering, structural health monitoring (SHM) technologies have grown over time. In the design, analysis, and maintenance of contemporary civil engineering systems and structures, SHM has emerged as a key instrument. Increased attention to structural health monitoring, outdated infrastructure in Europe and North America, outdated aircraft of domestic & international airlines, decrease in inspection costs, and frequent natural disasters all contribute to the market's growth. Additionally, the global structural health monitoring market share has a lot of prospects due to the rise in infrastructure investments and advancements in wireless sensor networks. However, the structural health monitoring market's growth is constrained by high implementation costs and difficulties with data normalisation.

The following extensive advantages of structural health monitoring are provided to customers: forecast and measures profitability, Increase efficiency and revenue by integrating and enhancing systems, tracking and measuring construction activities, managing risk portfolios, enabling remote operations, reducing manual interactions, and automating choices, among other things. Monitoring structural health makes it easier for the system and the operators to communicate. It aids workers in increasing output while reducing costs and streamlining processes.

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In the field of construction management and maintenance, structural health monitoring for civil constructions is becoming more and more common on a global scale. SHM allows for greater comprehension of the behaviour of structures under dynamic loads, seismic protection, and inspection costs and research time in real or nearly real-time data information. SHM of civil structures guarantees improved post-earthquake management and supports rescue efforts. However, because of the detrimental impacts of structural reactions, structural monitoring of static and dynamic stress of dams has received considerable attention over the years. Due to various environmental factors and additional load circumstances, the actual structural responses of dams deviate from the baseline values predicted during design.

Segmentations:

Global Structural Health Monitoring (SHM) Market: Major Players
Geocomp Corp.
Sodis Lab
Nova Metrix LLC
Strainstall Uk Ltd.
Geokon, Inc.
Kinemetrics Inc.
Advitam, Inc.
National Instruments.
Geosig Ltd.
Digitexx Data Systems, Inc.
Hottinger Baldwin Messtechnik Gmbh
Cowi A/S
Acellent Technologies, Inc.
Campbell Scientific, Inc.
Digitexx

Global Structural Health Monitoring (SHM) Market: By Types
Wired
Wireless
Hardware
Software & Services

Global Structural Health Monitoring (SHM) Market: By Applications
Bridges
Dams
Tunnels
Buildings
Stadiums
Other

Global Structural Health Monitoring (SHM) Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Structural Health Monitoring (SHM) market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Market Trends:

One of the main drivers fueling market expansion is the growing demand for standardisation and automation in the repair and maintenance of civil and infrastructure structures. Modern civil engineering systems and structures frequently use SHM for design, analysis, and maintenance because of the increasing digitalization and development of smart sensors. In order to exert quality control, contractors can also use SHM systems for remote monitoring of building operations. Other growth-promoting technical developments include the incorporation of cutting-edge communication modules and data collecting systems for the processing and analysis of information. With the help of these solutions, customers may better analyse the structure health by including electrical, magnetic, thermal, physical, and chemical data.

This report examines all the key factors influencing growth of global Structural Health Monitoring (SHM) market, including demand-supply scenario, pricing structure, profit margins, production and value chain / ecosystem analysis. Regional assessment of global Structural Health Monitoring (SHM) market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, scope of NPD in new markets, pricing strategies, innovation possibilities and much more.

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