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, according to the latest analysis by Emergen Research. Rapid advancement in sensing technology due to investments in R&D 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.
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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.
The Structural Health Monitoring Market research report is a comprehensive and vital document encompassing business strategies, qualitative and quantitative analysis, and emerging trends of the global Structural Health Monitoring Market. The report offers in-depth research and assessment of the key elements of the global Structural Health Monitoring Market. The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the Structural Health Monitoring Market.
Key participants include 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.
The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Regional Outlook of Structural Health Monitoring Market:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
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Key insights presented in the report:
Market revenue shares by major business players, by type, by application, and market scope of global Structural Health Monitoring market
Sales revenue by key players and new entrants
Competitive analysis of key players, including aspects such as company overview, product or services specification, vendors, and buyers
Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Regional analysis to provide insight into recent trends and opportunities
Emergen Research has segmented the global structural health monitoring market based on offering, technology, end use, and region:
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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