Structural Health Monitoring Market
Report ID: SQMIG35E2019
Structural Health Monitoring Market Size, Share, Growth Analysis, By Offering(Hardware [Sensors (Accelerometers, Displacement sensors, Tilt meters & inclinometers, Strain gauges), By Technology(Wired, Wireless), By Vertical(Civil Infrastructure [Bridges, Tunnels, Dams, Buildings & Stadiums]), By Application(Agricultural, Cleaning, Educational, Healthcare), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35E2019 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
176
|Figures:
79
Structural Health Monitoring Market Insights
Global Structural Health Monitoring Market size was valued at USD 2.20 billion in 2022 and is poised to grow from USD 2.43 billion in 2023 to USD 5.32 billion by 2031, growing at a CAGR of 10.30% during the forecast period (2024-2031).
System health monitoring is a tool that enables civil engineers to reduce maintenance costs and improve safety measures for critical infrastructure. Some of the primary tasks performed by SHM systems include testing heavy equipment, aircraft, turbines, buildings, bridges, dams and stadiums. This technology combines data acquisition and communication systems, sensors, analytical devices, measurement amplifiers and software. With predictive maintenance, systems play a key role in detecting damage, increasing building safety and enabling automatic response, thereby saving time and cost Large-scale projects such as smart cities in developing countries.
The increasing infrastructure around the world and growing concerns about natural disasters force governments around the world to implement several SHM-related regulations. Increased focus on low-cost energy harvesting systems and the use of distributed optical fiber further contribute to the growth of the market. Increasing demand for cost-effective design and maintenance is expected to drive the market growth.
US Structural Health Monitoring Market is poised to grow at a sustainable CAGR for the next forecast year.
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Structural Health Monitoring Market Segmental Analysis
Global Structural Health Monitoring Market is segmented by Offering, Technology, Vertical, Application, and region. Based on Offering, the market is segmented into Hardware and Software & Services. Based on Technology, the market is segmented into Wired, and Wireless. Based on Vertical, the market is segmented into Civil Infrastructure, Aerospace & Defense, Energy, Mining, and Other Verticals. Based on Application, the market is segmented into Agricultural, Cleaning, Educational, Healthcare, Manufacturing, Warehousing & Logistics, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Structural Health Monitoring Market Analysis by Offering
Hardware is the dominating segment in the market. The hardware segment plays an important role in the structural health monitoring market, as it contains key components such as sensors, data acquisition systems, and other physical tools for monitoring the structural integrity of infrastructure. Sensors from strain gauges, accelerometers to inclinometers are the backbone of SHM systems, providing real-time information on various structural parameters such as stress, vibration, temperature and displacement. In addition to continuous advances in sensor technology, such as wireless and MEMS (Micro-Electro-Mechanical Systems) sensors, which have increased the performance and scalability of SHM systems, robust data acquisition systems are critical for collection, processing and transmission of this data to central monitoring stations. Reliable and durable hardware is essential, especially for long-term monitoring in harsh environments, such as bridges or coastal platforms, where weather and other external factors a participation is challenging.
Software and services are the fastest growing segment in the market. The software and services department are equally important in turning the raw data collected from sensors into actionable insights. This segment includes analytics platforms, data management systems, and predictive maintenance software that interpret structural health data. The software solution uses advanced technologies such as artificial intelligence (AI), machine learning (ML), and big data analytics to provide predictive insights, identify potential failures, and recommend maintenance programs. So, this insight allows for early intervention, preventing costly repairs or catastrophic failures. Additionally, consulting, installation, calibration and maintenance services are provided by companies to ensure system performance at the deployment stage. Integrated cloud-based analytics platforms enable real-time access and analysis of data.
Structural Health Monitoring Market Analysis by Technology
Wired is the dominating segment in the market. The wired segment of the structural health monitoring market plays an important role in providing highly reliable and consistent data. Sensors in wired systems are physically connected to data acquisition systems via enables, ensuring the seamless communication without worrying about interference or signal loss. This makes wired SHM solutions particularly suitable for remote applications needed, such as large bridges, tunnels and dams, where real-time high-accuracy data is required to assess system health and ensure safety. Wired SHM systems are the usual choice because robust and long-term reliable for large amounts of data transmitted over long periods of time but often involves complex system installations requiring extensive cabling infrastructure. It can be overwhelming and expensive, especially in hard-to-access areas or large buildings.
The wireless segment of the market is rapidly gaining traction due to its flexibility, ease of installation and low cost. Wireless systems use sensors that communicate data over a wireless network, eliminating the need for multiple wires. This makes them ideal for applications where it is difficult or expensive to install and maintain wiring, such as in high-rise buildings, heritage buildings, or offshore buildings. Wireless SHM provides greater flexibility, allowing more sensors to be deployed over larger areas without the limitations imposed by wiring. Recent advances in wireless technologies, such as Low Power Wide Area Network (LPWAN), LoRaWAN, and NB-IoT, have improved the range, energy efficiency and data transmission of these systems, and to gain further acceptance.
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Structural Health Monitoring Market Regional Insights
North America dominated the global structural health monitoring market, accounting for over 35.1% of revenue in 2022. The demand for structural health monitoring systems in North America is increasing due to increased focus on public infrastructure maintenance and repair, old infrastructure, and various airports & wind turbines investment increased. Moreover, countries such as the US. and Canada rely heavily on health-control systems in construction to protect the safety and security of buildings and people. Rapidly growing infrastructure in North America for public infrastructure such as bridges, dams and procedures have adopted construction health surveillance methods.
Asia-Pacific is expected to grow at the fastest CAGR of 20.4% during the forecast period. Systemic health monitoring gains prominence in Asia Pacific due to huge expansion of infrastructure projects like bridges, power plants and smart cities. Many countries like China, India are providing investments in bridges and infrastructure in other sectors to help increase the economic growth. The main drivers of market expansion are rapid urbanization and the urgent need for high quality products. With the increasing number of public infrastructure projects, systematic health monitoring systems will be required to monitor the status of each system and prevent catastrophic failures.
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Structural Health Monitoring Market Dynamics
Structural Health Monitoring Market Drivers
Increasing Infrastructure Development
- The rapid development of infrastructure, especially in developing countries, has created a greater demand for systematic health management (SHM). Government and the private sector are investing heavily in new construction projects such as bridges, dams and high-rise buildings. These large-scale systems require monitoring to ensure safety and longevity and provide real-time data and predictive insights for SHM system maintenance, reducing catastrophic failures.
Increased Focus on Public Safety
- Governments and organizations are focusing on using SHM systems to monitor the health of critical infrastructure including bridges and tunnels to prevent accidents. These safety measures help identify construction defects in a timely manner, allowing for preventive maintenance and reducing the risk to the public. Public safety has become an important concern due to obsolete infrastructure and the increasing risk of natural disasters.
Restraints
High Initial Cost
- Despite the advantages of systematic health care systems, the high cost of initial installation, equipment and maintenance severely hampers market growth. Small and medium enterprises, especially in developing regions, may struggle to adopt SHM solutions due to budget constraints, and will hit users everywhere.
Lack of Skilled Personnel
- Operation and maintenance of SHM systems requires highly skilled personnel who are familiar with data interpretation, sensor technology and system integration. There is a particular lack of trained personnel in this area in developing countries which hampers the growth of markets as it affects the efficiency and effectiveness of monitoring systems.
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Structural Health Monitoring Market Competitive Landscape
The competitive scenario in the structural health monitoring market is characterized by several key players, a mix of global companies and specialist technology companies. These companies are based on innovations, technological advancements, supply chains and networking it competes based on direction. The market is growing rapidly as more and more manufacturers incorporate SHM systems to ensure safety, longevity and regulatory compliance.
Top Players in Global Structural Health Monitoring Market
- COWI A/S (Denmark)
- Campbell Scientific, Inc. (US)
- Geokon (US)
- Nova Metrix (US)
- SGS SA (Switzerland)
- Trimble Inc. (US)
- Sixense (France)
- Structural Monitoring Systems PLC. (UK)
- Acellent Technologies, Inc. (US)
- Digitexx Data Systems, Inc. (US)
- BDI (US)
- Sisgeo (Italy)
- AVT Reliability (UK)
- Geomotion Singapore (Singapore)
- Kinemetrics (US)
- FEAC Engineering P.C. (US)
- EFI Global, Inc. (US)
- Sensuron (US)
- Infibra Technologies (Canada)
- Sodis Lab (France)
- Set Point Technologies (US)
- Mistras Group (US)
- Metis Design Corporation (US)
- Geosig Ltd. (Switzerland)
Structural Health Monitoring Market Recent Developments
- In June 2023, Samsung Heavy Industries Co., Ltd announced ABS SMART Tier 2 in principle (AIP) approval for its Hull Stress Monitoring System (HSMS). This upgrade is the result of a joint development project with ABS, aimed at using intelligent ship onboard safety technology that should be improved. AIP confirms that the design is feasible and meets ABS Smart Tier 2 requirements, including specific load and activity monitoring, periodic updates on the construction status, and based inspections.
- In October 2022, Sumitomo Heavy Industries Marine and Engineering (SHI-ME) entered a joint venture with Light Structures AS.
- In August 2022, FDH Infrastructure Group, LLC acquired Smart Tower Systems, LLC, a subsidiary of Rohn Products, LLC. This acquisition will allow FDH to expand its portfolio of engineering services in the field of non-destructive testing (NDT) technology. By adding specialized system health management solutions to its offerings, FDH enhances its ability to manage global critical infrastructure owners and service providers in diverse industries such as telecommunications, utilities and meeting the needs of renewable energy is substantial.
Structural Health Monitoring Key Market Trends
- Integration of IoT and AI: The integration of Internet of Things (IoT) generation with synthetic intelligence (AI) is a key driver within the structural health monitoring market. IoT-enabled sensors can offer actual-time records approximately the status of structures, whilst AI algorithms can analyze these facts to predict the failures and optimize preservation plans. This is used to improve accuracy, automaticity and cost-effectiveness of SHM systems.
- Transition to Wireless Sensor Networks: Traditional wired SHM systems are increasingly being acquired by wireless sensor networks, wireless systems that facilitate installation, lower maintenance costs and the data collection wires reputation for excellence in data communication and scalability. In addition, wireless sensor networks enhance the capabilities of SHM systems, enabling the collection of detailed data over large areas. These sensors can transmit real-time information about system conditions, such as stress, pressure and temperature directly to central monitoring systems, improving data analysis speed and accuracy. As technology improves, WSNs are more reliable, improve battery life and provide better signal transmission, making them the preferred choice for modern infrastructure projects.
Structural Health Monitoring Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global structural health monitoring market analysis, increase in number of infrastructure projects due to rise in investments, growing vigilance on existing civil infrastructure to prevent accidents, rapid advancement in sensing technology due to investments in R&D, and reduced costs of structural health monitoring devices are major factors driving revenue growth of the market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.20 billion |
| Market size value in 2031 | USD 5.32 billion |
| Growth Rate | 10.30% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Structural Health Monitoring Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Structural Health Monitoring Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Structural Health Monitoring Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Structural Health Monitoring Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Structural Health Monitoring Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Structural Health Monitoring Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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