Structural Health Monitoring Market

The global structural health monitoring market foreseen to grow by 4.6%, from USD 14.77 Billion in 2021 to USD 21.17 Billion in 2029. Cascading effects of structural failures such as loss of lives and capital, increased importance of automated maintenance and repair of critical infrastructures, significant investments in infrastructure sector is seen to propel the market growth over the forecast period. However, high installation and monitoring costs, inaccurate results owing to errors in readings is likely to hinder market growth for the estimated period.

Market Definition

What is Structural Health Monitoring?

Structural health monitoring (SHM) system is a method of evaluating and monitoring structural health. It has been widely applied in various engineering sectors due to its ability to respond to adverse structural changes, improving structural reliability and life cycle management.

Market Overview

The Structural Health Monitoring market search study helps to thoroughly understand the current trend in the market competitive analysis of the players in the emerging market. Moreover, the DRO in the Structural Health Monitoring market offers valuable perspicuity and a current scenario for making the right decision. The research study covers the eminent players in the market with a detailed analysis of the company and a financial overview containing their net sales, business mix and geographical reach It mainly focuses on the key developments of the products/services offered by the company in recent years. Besides, we at Zettabyte have the expertise to analyses the global Structural Health Monitoring market player's competitive landscape helping the client comprehend their specific strategic growth approaches.

Structural Health Monitoring market study by "Zettabyte Analytics" offers details about the market scope, market segmentation, technological advancement in the Structural Health Monitoring market and highlights the optimistic, competitive landscape and trends enduring over the years.

Major players in the Structural Health Monitoring market Acellent Technologies, Avt Reliability, Bridge Diagnostics, Campbell Scientific, Cowi, Destek Engineering LLC, Digitexx, FEAC Engineering, First Sensor, Geocomp, Geokon, Geomotion Singapore, Geosig Ltd., Holtinger Baldwin Messtechnik (Hbm), Infibra Technologies, Kinemetrics, Metis Design Corporation, Mistras Group, Nova Metrix LLC, Pure Technologies, RST Instruments, Sensuron, Set Point Technologies, SGS, Sisgeo, Sixense, Sodis Labs, Strainstall Uk (James Fisher & Sons Plc), Structural Monitoring Systems Plc.

COVID-19 Impact on Global Structural Health Monitoring Market

The global impact of COVID-19 has lost millions of lives with a massive cost to the healthcare system. Moreover, the treatment cost for patients with COVID-19 has also had a financial impact globally. The impact of COVID-19 on the Structural Health Monitoring market has forced the companies to change their sourcing, pricing, and promotion strategies. The Structural Health Monitoring market players are seen focusing more on optimizing the e-commerce networks with the rising innovations in the digital sector, which are creating new business models for the healthcare industry player.

Research Scope

The report provides market value for the base year 2021 and a yearly forecast from 2022 to 2029 in revenue (USD Million/ Billion). The market for each segment is present in North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the regional basis for the forecast mentioned above.

Key industry dynamics, regulatory scenarios, major material dynamics and Structural Health Monitoring market future markets are analyzed to understand their impact on demand for the forecast period. Growth rates have been estimated using correlation, regression and time-series analysis.

Market Segmentation

For the purpose of this report, the global Structural Health Monitoring market segmented on the basis of offering, technology, end user, and region.

Offering Outlook:

On the basis of Component, the market is segmented into Services, Solutions.

Figure 1 Structural Health Monitoring Market By Offering (Market Size And Forecast By Value - USD Million, 2021 & 2029)

Technology Outlook:

On the basis of Technology, the market is segmented into Wired, Wireless.

Figure 2 Technology Outlook (Revenue, USD Million, 2021)

End Use Outlook:

On the basis of End User, the market is segmented into Civil Infrastructure, Aerospace & Defense, Energy, Mining, Others.

Figure 3 End Use Outlook (Revenue, USD Million, 2021)