Global Structural Health Monitoring Industry to reach USD 5.5 billion by 2025.
Global Structural Health Monitoring Industry valued approximately USD 1.21 billion in 2016 is anticipated to grow with a healthy growth rate of more than 18.35% over the forecast period 2019-2025. Worldwide infrastructural development, rising government regulations for structural safety, and availability of the inexpensive sensors that reduce the overall cost of structural health monitoring system are the major factors which are driving the growth in the Global Structural Health Monitoring Industry. On the other hand, a lack of technical expertise and complications associated with the installation of structural health monitoring systems for large structures are the factors that hamper the growth of the Industry. Structural Health Monitoring (SHM) technology deals with the implementation of systems and techniques which includes inspection, monitoring, and other processes for damage detection of structures. Its main function is to diagnose the condition of the materials of different parts of structures like rails, buildings, bridges, dams, power plants and so on. Structural health monitoring systems reduce the repairs and maintenance cost during a structure’s life cycle. Structural health monitoring is used in numerous industries such as railways, civil engineering, energy, and utilities. This technology encompasses various types of devices including measuring amplifiers, actuators, sensors, analyzing tools, data acquisition system, and transmission software. Structural health monitoring helps to detect damage and improve the structure safety, which results in time and cost saving.
The regional analysis of Global Structural Health Monitoring Industry is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Industry share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2025.
The objective of the study is to define Industry sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Industry. Additionally, the report shall also incorporate available opportunities in micro Industrys for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
Structural Health Monitoring Industry Share and Size by 2019-2025
Structural Health Monitoring Market Segmentation:
* Wired Structural Health Monitoring
* Wireless Structural Health Monitoring
* Software & Services
* Civil Infrastructure
* Aerospace & Defence
By Implementation Methods:
* New Construction
* Structural Health Monitoring and Nondestructive Testing
* Damage Detection
* Crack Detection
* Impact Monitoring
* Corrosion Monitoring
* Strain Monitoring
* Hotspot Monitoring
* State Sensing
* Multimodal Sensing
* North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Major Market Players in Structural Health Monitoring Market are as follows:
Nova Metrix, Geokon, Campbell Scientific, Cowi, Geocomp, Acellent, Sixense, Pure Technologies, Structural Monitoring Systems, Digitexx, First Sensor, Bridge Diagnostics, Sisgeo, Rst Instruments, Avt Reliability (Aesseal), Geomotion Singapore, Strainstall UK (James Fisher & Sons PLC), Hottinger Baldwin Messtechnik, Kinemetrics and s - on.