Structural Health Monitoring Market
Global Structural Health Monitoring Market Size, Share & Trends Analysis Report, By Technology (Wired Structural Health Monitoring, and Wireless Structural Health Monitoring), By Offering (Hardware, Sensors, Data Acquisition Systems (DAS) and Communication Systems, Software, Services, and Others), By End-User Industry (Civil Infrastructure, Bridges, Buildings, Tunnels, Aerospace, Defense, Energy, Mining, and Others), Forecast (2021-2027). Update Available - Forecast 2024-2030
The global structural health monitoring market is anticipated to grow at a significant CAGR of nearly 16.5% during the forecast period. A rapid growth in infrastructural development across the globe, and increasing concerns towards the natural calamities are impelling governments globally to apply certain regulations regarding SHM, which in turn is driving the market growth. For instance, in 2014, as per the regulations established by the government of China, SHM system should be used in newly built architectural structures, and bridges. It also plans the significance of replaceable, maintainable, and durable sensors with a service life of up to 20 years.
Additionally, increasing focus on low-cost energy harvesting systems, and adoption of distributed optic fibre is further leading to the growth of the market. Surging demand for cost-effective constructions and maintenance is anticipated to foster market growth. However, the cost of structural health monitoring systems rises with range, resolution, accuracy, precision, and repeatability. Though the structural health monitoring systems help to save costs in the long term, the costs involved in installation and monitoring are very high, mainly due to the advanced sensors, software, and complex data acquisition systems.
Impact of COVID-19 Pandemic on Global Structural Health Monitoring Market
The COVID-19 pandemic had disrupted the manufacturing operations of various industries across the globe, which had drastically reduced the demand for structural health monitoring. The automotive industry and building and construction industry halted their production and construction activities due to the COVID-19 pandemic. Therefore, the demand for structural health monitoring was adversely affected by the COVID-19 pandemic. As the COVID-19 situation normalizes, the structural health monitoring market started recovery as industrial operations were normalized after the recovery. Moreover, the halting of operations of the airlines due to travel restrictions imposed by the countries could increase the maintenance, repair, and overhaul activities in the aviation sector.
Segmental Outlook
The global structural health monitoring market is segmented based on the technology, offering, and end-user industry. Based on the technology, the market is segmented into wired structural health monitoring, and wireless structural health monitoring. Based on the offering, the market is sub-segmented into the hardware, sensors, data acquisition systems (DAS) and communication systems, software, services, and others. Based on the end-user industry, the market is sub-segmented into civil infrastructure, bridges, buildings, tunnels, aerospace, defense, energy, mining, and others.
Global Structural Health Monitoring Market Share by Offering, 2020 (%)
Service Segment Holds the Major Share in the Global Structural Health Monitoring Market.
Based on the offering, the service segment held the major share in 2020. Due to the increasing importance of large civil projects, and frequent occurrences of structural failure, structural health monitoring systems demands are increasing. The basic approach of any structural health monitoring system is to continuously collect data (over a longer period of time) about the overall condition of the structure from various installed sensors. This sensory data includes parameters related to loading, stress, strain, acceleration, temperature, and video signal, among others. Furthermore, it is challenging for structural engineers to obtain, process, store, and analyze such a huge volume of data. To resolve this challenge, the software platform, customized software applications, and software algorithms are being adopted. For instance, software such as MATLAB, and SCADA play a crucial role in early damage detection, they determine the damage at an early stage and facilitate necessary repair to maintain a high level of safety.
Regional Outlook
The global structural health monitoring market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Germany, Italy, Spain, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). North America is likely to show notable growth in the global structural health monitoring market Due to the rising focus of the government on the repair and maintenance of civil infrastructure, and aircraft. The market can see a downturn due to the COVID-19 pandemic, but a recovery is expected in 2021 attributed to the easing up of lockdowns. The key driving factors for the market growth in this region include the aging infrastructure, support from various governments in the region, and the increasing need for effective solutions for the maintenance of infrastructures. Moreover, as per the Federal Highway Administration (FHWA) in the US, more than 30% of the structures, such as bridges and tunnels, have exceeded their 50 years of design life. So, to increase public safety and improve the structural lifespan, the implementation of a structural health monitoring system is a must. Such factors would further contribute to the growth of the market in North America.
Global Structural Health Monitoring Market Growth by Region, 2021-2027
Asia-Pacific Region Dominates the Global Structural Health Monitoring Market.
Asia-Pacific region dominated the structural health monitoring market in 2020 and it is estimated that the region will maintain its dominance during the forecast period as the region has investing majorly in the public sector, and other nations such as China and the US have been investing in the countries with the advent of globalization. Due to this funding, the spending capacity of developing nations will increase through various infrastructural projects which are contributing to the overall growth of the global structural health monitoring market over the forecast period. structural health monitoring is a must for a new infrastructure due to it can ensure the safety of the structure by monitoring factors like crack detection, damage detection, corrosion monitoring, and impact monitoring.
Market Players Outlook
The major companies serving the global Structural Health Monitoring market include Acellant Technologies Inc., Advitam Group, COWI A/S, Digitexx Data Systems, Inc., Geosig Ltd., National Instruments Corp., Nova Metrix LLC, andothers. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2020, Campbell Scientific launched new GRANITE series with significant applications for structural health monitoring (SHM).
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Structural Health Monitoring market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Structural Health Monitoring Market
• Recovery Scenario of Global Structural Health Monitoring Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Acellant Technologies Inc.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Advitam Group
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. COWI A/S
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Digitexx Data Systems, Inc.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Geokon, Inc.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Structural Health Monitoring Market by Technology
4.1.1. Wired Structural Health Monitoring
4.1.2. Wireless Structural Health Monitoring
4.2. Global Structural Health Monitoring Market by Offering
4.2.1. Hardware
4.2.2. Sensors
4.2.3. Data Acquisition Systems (DAS) & Communication Systems
4.2.4. Software
4.2.5. Services
4.2.6. Others
4.3. Global Structural Health Monitoring Market by End-User Industry
4.3.1. Civil Infrastructure
4.3.2. Bridges &Buildings
4.3.3. Aerospace & Defense
4.3.4. Energy
4.3.5. Mining
4.3.6. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Campbell Scientific Inc.
6.2. FEAC Engineering, Xylem Inc.
6.3. First Sensor AG
6.4. Geomotion Singapore Pte Ltd.
6.5. Geosig Ltd.
6.6. Hottinger Brüel & Kjær
6.7. James Fisher and Sons plc.
6.8. Kinemetrics Inc.
6.9. National Instruments Corp.
6.10. Nova Metrix LLC
6.11. Nova Ventures Group
6.12. OSMOS Group SA
6.13. Pure Technologies Ltd.
6.14. Sisgeo S.r.l.
6.15. Sixense UK
6.16. SODIS Lab
6.17. Structural Monitoring Systems Plc
1. GLOBAL STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
2. GLOBAL WIRED STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL WIRELESS STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2020-2027 ($ MILLION)
5. GLOBAL STRUCTURAL HEALTH MONITORING HARDWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL STRUCTURAL HEALTH MONITORING SENSORS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL STRUCTURAL HEALTH MONITORING DATA ACQUISITION SYSTEMS (DAS) AND COMMUNICATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL STRUCTURAL HEALTH MONITORING SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL STRUCTURAL HEALTH MONITORING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL OTHERS STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
12. GLOBAL STRUCTURAL HEALTH MONITORING FOR CIVIL INFRASTRUCTURE MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
13. GLOBAL STRUCTURAL HEALTH MONITORING FOR BRIDGES & BUILDINGS MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
14. GLOBAL STRUCTURAL HEALTH MONITORING FOR AEROSPACE & DEFENSE MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
15. GLOBAL STRUCTURAL HEALTH MONITORING FOR ENERGY MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
16. GLOBAL STRUCTURAL HEALTH MONITORING FOR MINING MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
17. GLOBAL STRUCTURAL HEALTH MONITORING FOR OTHER MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
18. GLOBAL STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
19. NORTH AMERICAN STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
20. NORTH AMERICAN STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
21. NORTH AMERICAN STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2020-2027 ($ MILLION)
22. NORTH AMERICAN STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
23. EUROPEAN STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
24. EUROPEAN STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
25. EUROPEAN STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2020-2027 ($ MILLION)
26. EUROPEAN STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
27. ASIA-PACIFIC STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
28. ASIA-PACIFIC STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
29. ASIA-PACIFIC STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2020-2027 ($ MILLION)
30. ASIA-PACIFIC STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
31. REST OF THE WORLD STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
32. REST OF THE WORLD STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
33. REST OF THE WORLD STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2020-2027 ($ MILLION)
34. REST OF THE WORLD STRUCTURAL HEALTH MONITORING MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL STRUCTURAL HEALTH MONITORING MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL STRUCTURAL HEALTH MONITORING MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL STRUCTURAL HEALTH MONITORING MARKET, 2021-2027 (%)
4. GLOBAL STRUCTURAL HEALTH MONITORING MARKET SHARE BY TECHNOLOGY, 2020 VS 2027 (%)
5. GLOBAL WIRED STRUCTURAL HEALTH MONITORING MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
6. GLOBAL WIRELESS STRUCTURAL HEALTH MONITORING MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
7. GLOBAL STRUCTURAL HEALTH MONITORING MARKET SHARE BY OFFERING, 2020 VS 2027 (%)
8. GLOBAL STRUCTURAL HEALTH MONITORING HARDWARE MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL STRUCTURAL HEALTH MONITORING SENSORS MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
10. GLOBAL STRUCTURAL HEALTH MONITORING DATA ACQUISITION SYSTEMS (DAS) AND COMMUNICATION SYSTEMS MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
11. GLOBAL STRUCTURAL HEALTH MONITORING SOFTWARE MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
12. GLOBAL STRUCTURAL HEALTH MONITORING SERVICES MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
13. GLOBAL OTHER STRUCTURAL HEALTH MONITORING MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
14. GLOBAL STRUCTURAL HEALTH MONITORING MARKET SHARE BY END-USER INDUSTRY, 2020 VS 2027 (%)
15. GLOBAL STRUCTURAL HEALTH MONITORING FOR CIVIL INFRASTRUCTURE MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
16. GLOBAL STRUCTURAL HEALTH MONITORING FOR BRIDGES & BUILDINGS MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
17. GLOBAL STRUCTURAL HEALTH MONITORING FOR AEROSPACE & DEFENSE MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
18. GLOBAL STRUCTURAL HEALTH MONITORING FOR ENERGY MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
19. GLOBAL STRUCTURAL HEALTH MONITORING FOR MINING MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
20. GLOBAL STRUCTURAL HEALTH MONITORING FOR OTHER END-USER MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
21. GLOBAL STRUCTURAL HEALTH MONITORING MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
22. US STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
23. CANADA STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
24. UK STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
25. FRANCE STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
26. GERMANY STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
27. ITALY STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
28. SPAIN STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
29. REST OF EUROPE STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
30. INDIA STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
31. CHINA STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
32. JAPAN STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
33. SOUTH KOREA STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
34. REST OF ASIA-PACIFIC STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
35. REST OF THE WORLD STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2027 ($ MILLION)
