Structural Health Monitoring Market Set to Reach $6.25 Billion by 2029 with 16% Yearly Growth

Which drivers are expected to have the greatest impact on the over the structural health monitoring market's growth?
The structural health monitoring market is predicted to expand due to the increasing frequency of natural disasters. Natural calamities, caused by various natural phenomena on Earth, often lead to catastrophic consequences. Structural health monitoring is beneficial in averting damage caused by water floods and collapses of dams, dykes, pipelines and other infrastructures during these disasters. Therefore, the more frequently natural disasters occur, the more demand there is for structural health monitoring, effectively leading to market growth. For example, a report by the US-based government agency, the National Centers for Environmental Information (NCEI), stated that in 2023, the U.S experienced 28 distinct climate and weather-related disasters, each resulting in damages of at least $1 billion. This broke the previous record for the most billion-dollar disasters in a single year. Consequently, the rising frequency of natural calamities continues to fuel the growth of the structural health monitoring market.

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What is the future CAGR of the structural health monitoring market, and how will it impact industry expansion?
In recent times, the structural health monitoring market has experienced swift growth. A leap from $3.04 billion in 2024 to $3.49 billion in 2025 is expected, with a compound annual growth rate (CAGR) of 14.9%. Factors such as market recognition and adoption, disaster reduction strategies, amplified government initiatives, the rise of wireless monitoring and innovative SHM applications have contributed to this growth over the historical period.

In the coming years, the market size of structural health monitoring is predicted to experience swift expansion. The expected growth rate is 15.7% CAGR, leading to a worth of $6.25 billion by 2029. The growth during the forecast period can be associated with factors such as the emergence of smart city initiatives, the development of remote monitoring solutions, the integration of machine learning and artificial intelligence, expansion in the renewable energy sector, and regulatory focus on structural safety. Moreover, the major trends anticipated during the forecast period encompass advancements in sensor technology, the integration of the internet of things (IoT), the increasing demand for predictive maintenance, the upswing of infrastructure development, and the growing adoption in the aerospace and defense sectors.

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What are the most significant trends transforming the structural health monitoring market today?
The structural health monitoring industry is seeing a rise in the trend of technological innovation. To stay ahead of the curve, key industry players are focused on developing groundbreaking technologies. For instance, in February 2022, a US-based company specializing in climate resilience technology, One Concern, launched two initiatives: One Concern Domino and One Concern DNA. These tools were designed to strengthen corporate resilience in the face of climate change. Domino works as a detailed digital twin solution, identifying cascading effects across intricate societal networks, and provides an enhanced measure of "business resilience" beyond just physical asset damage. In contrast, DNA provides analytics at the property level to increase resilience, allowing precise risk selection and comparison with other properties. Collectively, these tools leverage extensive data and machine learning to give actionable insights about climate effects, infrastructure downtime, and recovery costs, thus enabling decision-makers to preemptively tackle climate risks.

Which key market segments comprise the structural health monitoring market and drive its revenue growth?
The structural health monitoring market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Connectivity: Wired, Wireless
3) By Application: Bridges And Dams, Buildings And Stadiums, Vessels And Platforms, Airframes And Wind Turbines, Large Machinery And Equipment
4) By End User: Civil, Aerospace, Defense, Energy, Mining, Other End Users

Subsegments:
1) By Hardware: Sensors, Data Acquisition Systems, Communication Devices, Structural Health Monitoring Systems
2) By Software: Data Analysis Software, Monitoring And Management Software, Visualization Tools
3) By Services: Installation And Integration, Maintenance And Support, Consulting And Advisory Services, Training And Education

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What regions are at the forefront of structural health monitoring market expansion?
Asia-Pacific was the largest region in the structural health monitoring market in 2024. The regions covered in the structural health monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the leading players fueling growth in the structural health monitoring market?
Major companies operating 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, Strainstall Limited, Pure Technologies, RST Instruments Ltd., Smart Structures Inc., Hexagon AB, Hottinger Bruel & Kjaer (HBK) Test and Measurement, General Electric (GE) Sensing & Inspection Technologies, Dynastar SAS, B&K Vibro, ASI Technologies, Applied Acoustic Systems, Agilent Technologies

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What Is Covered In The Structural Health Monitoring Global Market Report?

• Market Size Forecast: Examine the structural health monitoring market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the structural health monitoring market for a structured understanding.
• Key Players Overview: Analyze major players in the structural health monitoring market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the structural health monitoring market.
• Segment Contributions: Evaluate how different segments drive overall growth in the structural health monitoring market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the structural health monitoring market.
• Industry Challenges: Identify potential risks and obstacles affecting the structural health monitoring market.
• Competitive Landscape: Review strategic developments in the structural health monitoring market, including expansions, agreements, and new product launches.

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