Press release
Structural Health Monitoring Market: Rapid Growth Expected, Driven By Trending Tech Integration and Regulatory Emphasis on Safety
Structural Health Monitoring Market
What Is The Projected Market Size Of The Global Structural Health Monitoring Market And Its Growth Rate?
The structural health monitoring market has immense growth potential, spurred by increased government initiatives, disaster mitigation, market recognition and acceptance, and advancements in technology:
• 2024 Market Size: $3.04 billion
• 2025 Market Size: $3.49 billion (14.9% CAGR)
• 2029 Market Size: $6.25 billion (15.7% CAGR)
Increased growth in smart cities initiatives, integration of machine learning and AI, remote monitoring solutions, and regulatory structural safety emphasis contribute to rapid market growth expansion.
What Is Driving The Growth In The Structural Health Monitoring Market?
The driving force behind the growing structural health monitoring market is the frequency of natural calamities. These disasters can result in catastrophic damage to infrastructure such as dams, dykes, and pipelines, making structural health monitoring an essential preventive measure. As per the National Centers for Environmental Information (NCEI), USA faced 28 distinct billion-dollar weather and climate disasters in 2023, setting a new record. With this increasing frequency, it is expected that the structural health monitoring market will continue to grow.
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Who Are The Key Players Driving Structural Health Monitoring Market Growth?
Prominent companies in the Structural Health Monitoring market include:
• Geokon
• Campbell Scientific Inc.
• COWI A/S
• Geocomp Corporation
• Acellent Technologies Inc.
• Sixense
• Structural Monitoring Systems Plc
• Digitexx Data Systems Inc.
• Kinemetrics
• National Instruments Corporation
• Hottinger Baldwin Messtechnik GmbH
• SGS Société Générale de Surveillance SA
• James Fisher Strainstall
What Are The Key Trends In The Structural Health Monitoring Market?
Key trends influencing the market include:
• Advancements in Sensor Technology
• IoT Integration
• Demand for Predictive Maintenance
• Growing Infrastructure Development
• Adoption in Aerospace and Defense
What Are The Segments Of The Global Structural Health Monitoring Market?
The Structural Health Monitoring market can be categorized into following segments:
• 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
Which Region Leads The Structural Health Monitoring Market?
Asia-Pacific was the leading region in the structural health monitoring market in 2024. The regions analyzed in the report also include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Structural Health Monitoring Market Global Market Report?
- Market Size Analysis: Analyze the Structural Health Monitoring Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Structural Health Monitoring Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Structural Health Monitoring Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Structural Health Monitoring Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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