Global Structural Health Monitoring Market market size was valued at $1,133 million in 2016, and is projected to reach $3,965 million by 2023, growing at a CAGR of 18.9% from 2017 to 2023.
Factors that drive the growth of the global structural health monitoring market are rapid increase in construction activities and the growth in need for continuous monitoring of the structure. In addition, growth in infrastructure investments and advances in wireless sensor networks provides opportunities for the global structural health monitoring market. However, high implementation cost and challenges concerning data normalization are some of the factors that restrain the structural health monitoring market growth.
This Report encloses comprehensive analysis on the market and are assessed through volume and value data validated on three approaches including top companies revenues. It concludes with precise and authentic market estimations considering all the parameters and market dynamics. Every crucial and decisive detail for the development and restriction of the market is mentioned in fine points
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Key companies profiled in the report include National Instruments Corporation, Advitam Inc., Digitexx Data Systems, Inc., Acellent Technologies, Inc., Nova Metrix LLC., COWI A/S, Geocomp Corporation, Hottinger Baldwin Messtechnik GmbH, Strainstall UK Limited, and Kinemetrics Inc.
The global structural health monitoring market is segmented based on component, connectivity, end user, and geography. Based on component, the market is classified into hardware, software, and services. The hardware segment is further categorized into sensors, data acquisition systems (DAS), and others. The hardware segment accounted for dominant share of the market in 2016, and is expected to maintain this trend during the forecast period. The services segment in structural health monitoring industry is expected to grow at highest CAGR from 2017 to 2023.
Based on connectivity, the structural health monitoring market is bifurcated into wired systems and wireless systems. Based on end users, it is categorized into civil, aerospace, defense, energy, mining, and others. The civil segment is further classified into tunnels, dams, stadiums, and others. SHM has become an important tool for monitoring large and complex civil structures. Emerging legislations, increasing social pressures, and the changes in the contractual relationships between builder and users drive the demand for SHM in civil infrastructures. The aerospace industry is estimated to be the fastest growing end user in the structural health monitoring market, growing at a CAGR of 21.2% from 2017 to 2023.
Geographically, the structural health monitoring market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
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Table Of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Structural Health Monitoring Market By Component
Chapter 5: Structural Health Monitoring Market By Connectivity
Chapter 6 Structural Health Monitoring Market, By End User
Chapter 7: Structural Health Monitoring Market By Geography
Chapter 8: Company Profiles
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