Structural Health Monitoring Market Global Trends and Forecasts to 2030

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Rapid advancement in sensing technology due to investments in R&D, and reduced cost of structural health monitoring devices are driving global structural health monitoring market revenue growth

The objectives of this study are to define, segment, and project the size of the Structural Health Monitoring Market based on company, product type, application and key regions.

The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Structural Health Monitoring Market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.

The global structural health monitoring market size was USD 1.87 Billion in 2021 and is expected to register a revenue CAGR of 14.3% over the forecast period. Rapid advancement in sensing technology due to investments in RD and reduced cost of structural health monitoring devices are some key factors driving structural health monitoring market revenue growth. Sensors are being widely used by companies, across various industries, where process plants have installed sensors to digitize operations for process control and connected major processes in their plants. In addition, this can be used to gather and analyze data to achieve higher levels of process efficiency.

Linking up intelligent sensing with Artificial Intelligence (AI) and Machine Learning (ML), can support decision-making and increase optimization of performances. Moreover, availability of a wide range of affordable sensors has led to a rise in adoption of sensors for real-time monitoring of structural components to extend the life, reduce maintenance costs, and ensure a high level of public safety. Fiber Optic Sensors (FOS) or other types of sensing devices can provide information about local behavior within component such as monitoring a fatigue crack on a critical component. Furthermore, sensors are placed directly on part of structure susceptible to cracks and number of sensors is based on evaluation provided by engineers. However, rising demand for structural health monitoring hardware devices is expected to drive revenue growth of the market.

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Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Companies profiled in the global Structural Health Monitoring market:

Nova Ventures, Geokon, Campbell Scientific, Inc., Structural Monitoring Systems plc, CGG SA, Acellent Technologies, Inc., Sixense, Xylem Inc., SGS S.A., and Digitexx Data Systems, Inc

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Market Dynamics:

The report offers insightful information about the market dynamics of the Structural Health Monitoring market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Structural Health Monitoring market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Structural Health Monitoring market.

Segments Covered in this report are:

  • Offering Outlook (Revenue, USD Billion, 2019–2030)

    • Hardware
    • Software
    • Services
  • Technology Outlook (Revenue, USD Billion, 2019–2030)

    • Wired
    • Wireless
  • End Use Outlook (Revenue, USD Billion, 2019–2030)

    • Civil Infrastructure
    • Aerospace and Defense
    • Energy
    • Mining

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The Global Structural Health Monitoring Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Structural Health Monitoring market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.

Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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