Press release
Structural Health Monitoring Market Growth, Top Vendors, Business Prospects and Forecast by 2027
Structural Health Monitoring Market
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.
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Top Companies
JAMES FISHER AND SONS PLC. (STRAINSTALL UK LIMITED), SPECTRIS PLC. (HOTTINGER BALDWIN MESSTECHNIK GMBH), GEOCOMP CORPORATION, NATIONAL INSTRUMENTS CORPORATION, NOVA VENTURES GROUP CORP. (NOVA METRIX LLC), COWI A/S, ACELLENT TECHNOLOGIES, INC., SIXENSE SYSTEMS (ADVITAM INC.), KINEMETRICS INC., DIGITEXX DATA SYSTEMS INC.
Structural failures can lead to catastrophic consequences, impacting public safety, the economy, and the environment. The collapse of the Morandi Bridge in Genoa, Italy, in 2018 is a grim reminder of the potential consequences of neglected infrastructure. SHM emerges as a proactive solution, offering real-time monitoring and early detection of structural anomalies, allowing for timely maintenance and preventing disasters.
Companies like Luna Innovations and FOS4X have introduced fiber optic sensing technologies that offer accurate and real-time data on structural behavior. These systems use optical fibers to detect strain, temperature, and deformation, providing insights into the health of structures. Businesses like COWi and Acellent Technologies utilize wireless sensor networks to monitor structures. These networks consist of distributed sensors that communicate wirelessly, enabling cost-effective and efficient data collection over large areas.
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The rise of autonomous vehicles and robotics will likely influence SHM, allowing for automated inspection and maintenance tasks, even in challenging environments. The rollout of 5G networks will further enhance data transfer speeds and connectivity, enabling faster and more accurate real-time monitoring. As cities become smarter and more connected, SHM will play a pivotal role in ensuring the safety and efficiency of urban infrastructure, from bridges to high-rise buildings. Miniaturized sensors could provide even more granular data, allowing for a deeper understanding of structural behavior and performance.
The Structural Health Monitoring market is a testament to human ingenuity and the constant quest for safer and more sustainable infrastructure. By combining cutting-edge technology, data analysis, and engineering expertise, SHM is revolutionizing the way we monitor and maintain structures. As the market continues to evolve, it holds the potential to not only prevent disasters but also drive efficiency, sustainability, and innovation in the realm of infrastructure.
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