Rising Tide of Natural Calamities: A Surging Stimulus for Structural Health Monitoring Market Growth || Nova Ventures Group Corp., Geokon, Campbell Scientific Inc., COWI A/S

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Structural Health Monitoring Global Market Report 2023 identifies the frequent occurrences of natural calamities are the major driver for the structural health monitoring market's growth in the forecast period. Natural calamities are catastrophic occurrences that arise as a result of any natural phenomenon on Earth. Structural health monitoring is very helpful to prevent water and flood damage brought on by collapsed dams, dykes, pipelines and other similar infrastructure as a result of natural disasters; hence, frequent occurrences of natural calamities are expected to boost the structural health monitoring market. For instance, according to a report published by EM-DAT, The International Disaster Database, a US-based global database on natural and technological disasters, in 2021, 432 catastrophes caused by natural calamities occurred in 2021 across the globe.


The global structural health monitoring market size is expected to grow from $2.31 billion in 2022 to $2.67 billion in 2023 at a compound annual growth rate (CAGR) of 15.59%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global structural health monitoring market size is expected to reach $4.68 billion in 2027 at a CAGR of 15.13%.

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Major competitors in the ststructural health monitoring market are Nova Ventures Group Corp., Geokon, Campbell Scientific Inc., COWI A/S, Geocomp Corporation, Acellent Technologies Inc., Sixense, Structural Monitoring Systems Plc., Digitexx Data Systems Inc., Kinemetrics.

A key trend in the structural health monitoring market includes technological advancement. Major companies operating in the structural health monitoring market are focusing on developing new technologies. For instance, in June 2021, Quakelogic, a US-based provider of intelligent disaster management solutions, launched the SMARTMONITORING system, an advanced and integrated structural health monitoring (SHM) and earthquake early warning (EEW) technology.

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The structural health monitoring market is segmented -

• By Component: Hardware, Software, Services

• By Connectivity: Wired, Wireless

• By Application: Bridges And Dams, Buildings And Stadiums, Vessels And Platforms, Airframes And Wind Turbines, Large Machinery And Equipment

• By End User: Civil, Aerospace, Defense, Energy, Mining, Other End Users

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the structural health monitoring market.

The Business Research Company's "Global Structural Health Monitoring Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Structural Health Monitoring Market Include:
1. Executive Summary
2. Structural Health Monitoring Market Characteristics
3. Structural Health Monitoring Market Trends And Strategies
4. Structural Health Monitoring Market - Macro Economic Scenario
5. Structural Health Monitoring Market Size And Growth
……………
27. Structural Health Monitoring Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Structural Health Monitoring Market
29. Structural Health Monitoring Market Future Outlook And Potential Analysis
30. Appendix

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