Structural Health Monitoring (SHM) Market to generate strong growth by 2016-2024

Global Structural Health Monitoring (SHM) Market: Overview

Structural health monitoring is an essential tool for the engineers to access the safety of critical infrastructure. It includes many sensing technologies along with an integrated measurement controller to capture and analyze huge real-time data. These systems are used to monitor the performance of structures such as bridges and dams, large machinery, buildings and stadiums, vessels, airframes, equipment, wind turbines, and platforms.

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Global Structural Health Monitoring (SHM) Market: Growth Factors

Growth of the structural health monitoring (SHM) market is mainly owing to the high availability of low-cost sensors. In addition, growing infrastructural development across the global may fuel the market in the coming years. Rising government initiatives in order to improve public safety and standardized structural health monitoring systems are anticipated to foster the market growth. Various market strategies to expand the footprint through acquisitions and higher investments for increasing production capacity are further expected to propel the global structural health monitoring market growth in the future. Rising adoption of distributed optic fiber and focus on low-cost energy harvesting monitoring systems is further contributing to the growth. Increasing demand for cost-effective constructions and maintenance propels the global structural health monitoring market growth. Growing concerns regarding natural calamities such as earthquake and others have led the government to implement certain regulations regarding structural health monitoring; this, in turn, enhances the global structural health monitoring market in a positive way. Conversely, the complexity associated with the implementation of the structural health monitoring solutions and lack of skilled professionals may hinder the global market growth.

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Global Structural Health Monitoring (SHM) Market: Segmentation

The global structural health monitoring (SHM) market is categorized based on application, type, component, and geographical. The application segment is classified as buildings & stadiums, large machinery & equipment, bridges & dams, airframes & wind turbines, and vessels & platforms. Of these, bridges & dams segment is the leading segment in the global structural health monitoring market. However, buildings & stadiums segment contributed for the largest market share. The type segment is further segmented as wireless SHM system and wired SHM system. The wired segment is experiencing the higher growth amongst all. The component segment is segregated as software, services, and hardware. Of these, the hardware is the segment is the largest segment in the global market. Whereas, the software segment is growing at the considerable rate in the global structural health monitoring market. Furthermore, the global market is fragmented based on geographical regions as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Global Structural Health Monitoring (SHM) Market: Regional Analysis

Rapidly developing technologies in North America contributed to the market share. Asia Pacific is also growing significantly due to rapid growth in the construction sector, which may fuel the global structural health monitoring market growth in the near future. The introduction of government regulations to monitor new constructions in China is anticipated to boost the global market.

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Global Structural Health Monitoring (SHM) Market: Competitive Players

Some of the key players dominating the global structural health monitoring (SHM) market are Strainstall UK Limited, Digitexx Data Systems, Inc., National Instruments Corporation, Geocomp Corporation, Hottinger Baldwin Messtechnik GmbH, Kinemetrics Inc., Nova Metrix LLC, Advitam Inc., COWI A/S, and Acellent Technologies, Inc.

Global Structural Health Monitoring (SHM) Market: Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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