According to the latest report by IMARC Group, titled “Structural Health Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global structural health monitoring market share reached a value of US$ XX Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026. Structural health monitoring (SHM) helps in implementing a damage identification strategy for aerospace, mechanical, and civil engineering infrastructure. It relies on non-destructive acoustic emission and ultrasonic and thermal imaging technologies to prevent abnormalities caused by incorrect construction, deterioration, lack of quality control or excessive accidental or environmental load. As a result, SHM is widely utilized for bridges, power, and wind energy plants, water, gas and oil pipelines rigs, tunnels, and pavements across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Structural Health Monitoring Market Trends:
SHM finds application in civil engineering as it assists in improving the understanding of field structural behavior, detecting damages at an early age of problem initiation, reducing inspection and repair time, encouraging the use of innovative materials, and developing rational management and maintenance strategies. This, along with rapid digitization and the advent of smart sensors, represents one of the key factors bolstering market growth. Apart from this, numerous technological advancements, such as the integration of data acquisition systems and innovative communication modules, are contributing to market growth.
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Global Structural Health Monitoring Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Acellent Technologies Inc.
- Bridge Diagnostics Inc.
- Campbell Scientific In
- COWI A/S
- Digitexx Data Systems Inc
- FEAC Engineering
- HBK – Hottinger Brüel & Kjær (Spectris plc)
- James Fisher and Sons plc
- National Instruments Corporation
- RST Instruments Ltd.
- Sisgeo S.r.l.
- Sixense Enterprises Inc.
Breakup by Component:
- Hardware
- Software
- Services
Breakup by Technology:
- Wired
- Wireless
Breakup by Implementation Method:
- New Construction
- Retrofitting
Breakup by Vertical:
- Civil Infrastructure
- Aerospace and Defense
- Energy
- Mining
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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