Structural Health Monitoring Market Synopsis:
Structural Health Monitoring Market Size Was Valued at USD 3.73 Billion in 2023, and is Projected to Reach USD 18.40 Billion by 2032, Growing at a CAGR of 19.4% From 2024-2032.
It is a market for SHM where structures like building, bridges and infrastructure are health monitored with the help of sensor, data acquisition system and software. SHM remains intended in the area of making sure that safety, durability and performance of these structures are achieved by developing assessment techniques for early identification of probable damage, observation of behavior of the structures in relation to their actual performance, and provision of immediate information to offer timely maintenance and repair.
- The SHM market is quickly developing because the need for infrastructure surveillance and management is increasing worldwide. A basic form of SHM systems use sensors technology in conjunction with computing intelligence technologies such as AI and analytics to ensure that buildings, bridges roads and other crucial infrastructures give current information of their state of structural health. When the urban population grows and a certain number of years pass, the existing infrastructure is in serious need of modernization, making SHM essential for operation. Preventive care maintenance has emerged as an efficient method for monitoring the structures and systems, and the progress in sensor technologies is also a major factor that has led to increasing interest in SHM systems.
- There has is a growing importance being paid by government and private companies in many parts of the word on development and update of infrastructures; this has prompted a raise on investments in Surface Highway Monitoring (SHM). The urgent demand for the improved safety measures, the higher material’s durability, and the necessity of rendering the maintenance cheaper increase the market demand. Further, through the SHM systems, maintenance can be predictedming the probability of major structural failures. This is particularly true in areas such as transport and energy where structures are under pressure at virtually all times. The deployment and implementation of SHM systems have also become critical for industries active in disaster management as it will also prevent such opportunities for early detection of different structural problems or failures depending on the context involved.
- Civil structures are not the only area where SHM is making its presence felt, Aerospace, Energy and several other sectors which cannot afford equipment failure are adopting SHM. Global market of SHM is expected to remain more innovative in the subsequent years due to success in smart cities and sustainable structures. Manufacturers are sourcing for high end materials, sensing technologies and software in order to develop reliable and efficient SHM systems. Shipment level monitoring with the IoT and AI integration into SHM solutions is expected to fuel future growth in this market, providing more precise and useful data for infrastructure management.
Structural Health Monitoring Market Trend Analysis
The Rise of AI Integration in SHM Systems:
- Among the trends that are defining the current market of Structural Health Monitoring (SHM), the AI integration is the most prominent one. In the case of structures, big data from sensors is gauged by AI algorithms more and more every day. All these technologies allow for performance evaluation in order to identify problems that may likely cause major degradation or even complete failure of the equipment. Such algorithms can interpret large and interdisciplinary data, which makes assessment of conditions more accurate, as well provide information that may remain unnoticed employing the traditional approach. This improves SHM solutions’ reliability and avoids significate time loss for repairing.
- When adopting AI with other technologies like machine learning, data analytics, the possibilities of reshaping SHM are tremendous. Fortunately, these intelligent systems can get trained from past data and the expectation improves over the time making the surveillance more efficient and economical. Heating and other structural problems that may warrant the attention of professional contractors can also be evaluated through the use of AI and the SHM solutions can self-diagnose and recommend actions that require the input of contractors. This shift is resulting into improvement of best practices that enhance sustainable and safe management of the infrastructure.
SHM as a Vital Component in Smart City Development
- The Structural Health Monitoring market has one major opportunity – the further continual development of smart cities around the world. What key terms and concepts does smart city refer to? Smart cities incorporate modern technology to drive the efficiency of physical structures within cities, as well as public services for the inhabitants of those cities. Real time monitoring systems for buildings, bridges, roads and infrastructure elements are critical to this development, and SHM systems are essential for this. The increasing implementation of IoT-based solutions and smart sensors used in cities and their management can be expected to open up a tremendous opportunity for the SHM providers to tap into.
- With the development of cities and a gradual shift towards sustainable solutions, important facilities need smart monitoring technologies. SHM technologies can assist in early detection or structural problems, opportunity to reduce the frequency of maintenance, and increase the lifespan of infrastructures. This not only helps to improve smart cities’ sustainability by increasing their abilities to deal with accidental damage but it also helps to reduce the costs of doing so and therefore benefits the overall environmental goals of smart cities. With the developments in urbanization and shift towards construction of smart cities across the world, the SHM market is expected to experience a high growth in near future.
Structural Health Monitoring Market Segment Analysis:
Structural Health Monitoring Market Segmented on The Basis of Component, Technology, Application, End User, and Region.
By Component, Hardware segment is expected to dominate the market during the forecast period
- The Structural Health Monitoring market can be segmented into three primary components: peripheral devices, system and application, and solutions. Hardware also refers to the actual structures such as sensors, Data Acquisition Systems and other communication instruments responsible for the actual structural information collection and transmission. These are important parts of SHM systems as they assist in monitoring of other features like strain, voltage, temperature and displacement. Wireless sensors and other IoT systems are essential growth factors in the SHM market – the hardware segment.
- The significance of software in the acquired information collected by the hardware cannot be overlooked. Big data and data analytics, machine learning, and Artificial Intelligence-based software solutions are becoming more indispensable in handling and analyzing unsurpassed amounts of data. These software solutions afford maintenance prediction and support decision making for infrastructure systems. Third, installation, data management, and maintenance services are a large portion of the SHM market. There is increased need for all-encompassing SHM solutions which include both hardware and software part as well as relating services.
By Application, Civil Infrastructure segment expected to held the largest share
- The Structural Health Monitoring market is employed across many significant segments such as civil structures, aerospace, energy, transportation and others. Civil infrastructure has the highest market share since SHM systems are critical to structures such as bridges, tunnels, buildings, as well as roads. Further, SHM technologies become essential as civilizations progress and demand for infrastructure expands in cities, along with the deterioration in infrastructures due to time effect.
- Civil engineering industries and military also form other large application domains of SHM systems; Aerospace and energy are also the two large application areas for SHM systems. In aerospace, SHM is applied to look at the strengthened cavities of aircrafts and the unmanned space vehicles to decide whether or not it is safe to fly and it has passengers on board. In a like way in energy industry, SHM is used to determine the health state of critical structure like wind turbines, oil rigs and power plants etc. Thus railways as well as highways have begun incorporating SHM systems with an aim of increasing safety, cutting costs pertaining to maintenance and increasing effectiveness of operations.
Structural Health Monitoring Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
- The present Structural Health Monitoring market leader is North America due to this region’s developed infrastructure and technological advancement. More so, the United States and Canada’s infrastructure demands high SHM technologies to maintain the reliable performance and safety of the infrastructure systems. More significantly, North America fundamentally forms the market supply chain for SHM because of the ageing infrastructure base which makes governments seek for better maintenance technologies that will minimize the dangers incidental to large scale failure.
- Furthermore, North American has a rich base of research and development of the SHM with many firms and Universities that are developing the next generation of monitoring for structures. This technological advance integrated with emergence of government favourability towards the SHM systems and push for sustainable infrastructures is the driver behind the growth of the SHM market in this region. North America will continue to own the SHM market thanks to investments made by cities and industries in the region in smart infrastructure solutions.
Active Key Players in the Structural Health Monitoring Market:
- Geosense (United Kingdom)
- Sisgeo (Italy)
- Vibration Monitoring Solutions (United States)
- Kinemetrics (United States)
- National Instruments (United States)
- RST Instruments (Canada)
- FPrime (United States)
- Geocomp Corporation (United States)
- SHM Software (United States)
- ACME Sensors (United States)
- OptaSense (United Kingdom)
- Structural Monitoring Systems (Australia), and Other Active Players
Key Industry Developments in the Structural Health Monitoring Market:
- In April 2024, Acellent Technologies, Inc. announced that Korea Aerospace Industries (KAI) has awarded the company a contract to supply Structural Health Monitoring (SHM) systems for KAI's KF-21 aircraft. Recognized as a 4.5-generation fighter, the KF-21 is expected to replace South Korea's aging fleet of fighter jets.
- In June 2023, Campbell Scientific, Inc. introduced TempVue 10, an innovative analog temperature sensor that set a new standard for air temperature measurement by surpassing all World Meteorological Organization (WMO) recommendations for accuracy, providing users with exceptionally stable and reliable temperature data over extended periods. The TempVue 10's adaptable design, featuring two or four wires, was aimed at facilitating seamless integration with existing systems while saving time and ensuring compatibility.
Structural Health Monitoring Market Scope:
Structural Health Monitoring Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 3.73 Billion |
Forecast Period 2024-32 CAGR: |
19.4% |
Market Size in 2032: |
USD 18.40 Billion |
Segments Covered: |
By Component |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Structural Health Monitoring Market by Component
4.1 Structural Health Monitoring Market Snapshot and Growth Engine
4.2 Structural Health Monitoring Market Overview
4.3 Hardware
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Hardware: Geographic Segmentation Analysis
4.4 Software
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Software: Geographic Segmentation Analysis
4.5 Services
4.5.1 Introduction and Market Overview
4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.5.3 Key Market Trends, Growth Factors and Opportunities
4.5.4 Services: Geographic Segmentation Analysis
Chapter 5: Structural Health Monitoring Market by Technology
5.1 Structural Health Monitoring Market Snapshot and Growth Engine
5.2 Structural Health Monitoring Market Overview
5.3 Vibration-Based Monitoring
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Vibration-Based Monitoring: Geographic Segmentation Analysis
5.4 Strain-Based Monitoring
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Strain-Based Monitoring: Geographic Segmentation Analysis
5.5 Acoustic Emission Monitoring
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Acoustic Emission Monitoring: Geographic Segmentation Analysis
5.6 Displacement-Based Monitoring
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Displacement-Based Monitoring: Geographic Segmentation Analysis
5.7 Others
5.7.1 Introduction and Market Overview
5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.7.3 Key Market Trends, Growth Factors and Opportunities
5.7.4 Others: Geographic Segmentation Analysis
Chapter 6: Structural Health Monitoring Market by Application
6.1 Structural Health Monitoring Market Snapshot and Growth Engine
6.2 Structural Health Monitoring Market Overview
6.3 Civil Infrastructure
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Civil Infrastructure: Geographic Segmentation Analysis
6.4 Aerospace
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Aerospace: Geographic Segmentation Analysis
6.5 Energy
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Energy: Geographic Segmentation Analysis
6.6 Transportation
6.6.1 Introduction and Market Overview
6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.6.3 Key Market Trends, Growth Factors and Opportunities
6.6.4 Transportation: Geographic Segmentation Analysis
6.7 Others
6.7.1 Introduction and Market Overview
6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.7.3 Key Market Trends, Growth Factors and Opportunities
6.7.4 Others: Geographic Segmentation Analysis
Chapter 7: Structural Health Monitoring Market by End User
7.1 Structural Health Monitoring Market Snapshot and Growth Engine
7.2 Structural Health Monitoring Market Overview
7.3 Construction
7.3.1 Introduction and Market Overview
7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.3.3 Key Market Trends, Growth Factors and Opportunities
7.3.4 Construction: Geographic Segmentation Analysis
7.4 Manufacturing
7.4.1 Introduction and Market Overview
7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.4.3 Key Market Trends, Growth Factors and Opportunities
7.4.4 Manufacturing: Geographic Segmentation Analysis
7.5 Transportation
7.5.1 Introduction and Market Overview
7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.5.3 Key Market Trends, Growth Factors and Opportunities
7.5.4 Transportation: Geographic Segmentation Analysis
7.6 Energy & Utilities
7.6.1 Introduction and Market Overview
7.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.6.3 Key Market Trends, Growth Factors and Opportunities
7.6.4 Energy & Utilities: Geographic Segmentation Analysis
7.7 Others
7.7.1 Introduction and Market Overview
7.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.7.3 Key Market Trends, Growth Factors and Opportunities
7.7.4 Others: Geographic Segmentation Analysis
Chapter 8: Company Profiles and Competitive Analysis
8.1 Competitive Landscape
8.1.1 Competitive Benchmarking
8.1.2 Structural Health Monitoring Market Share by Manufacturer (2023)
8.1.3 Industry BCG Matrix
8.1.4 Heat Map Analysis
8.1.5 Mergers and Acquisitions
8.2 GEOSENSE - UNITED KINGDOM
8.2.1 Company Overview
8.2.2 Key Executives
8.2.3 Company Snapshot
8.2.4 Role of the Company in the Market
8.2.5 Sustainability and Social Responsibility
8.2.6 Operating Business Segments
8.2.7 Product Portfolio
8.2.8 Business Performance
8.2.9 Key Strategic Moves and Recent Developments
8.2.10 SWOT Analysis
8.3 SISGEO - ITALY
8.4 VIBRATION MONITORING SOLUTIONS - UNITED STATES
8.5 KINEMETRICS - UNITED STATES
8.6 NATIONAL INSTRUMENTS - UNITED STATES
8.7 RST INSTRUMENTS - CANADA
8.8 FPRIME - UNITED STATES
8.9 GEOCOMP CORPORATION - UNITED STATES
8.10 SHM SOFTWARE - UNITED STATES
8.11 ACME SENSORS - UNITED STATES
8.12 OPTASENSE - UNITED KINGDOM
8.13 STRUCTURAL MONITORING SYSTEMS - AUSTRALIA
8.14 OTHER ACTIVE PLAYERS
Chapter 9: Global Structural Health Monitoring Market By Region
9.1 Overview
9.2. North America Structural Health Monitoring Market
9.2.1 Key Market Trends, Growth Factors and Opportunities
9.2.2 Top Key Companies
9.2.3 Historic and Forecasted Market Size by Segments
9.2.4 Historic and Forecasted Market Size By Component
9.2.4.1 Hardware
9.2.4.2 Software
9.2.4.3 Services
9.2.5 Historic and Forecasted Market Size By Technology
9.2.5.1 Vibration-Based Monitoring
9.2.5.2 Strain-Based Monitoring
9.2.5.3 Acoustic Emission Monitoring
9.2.5.4 Displacement-Based Monitoring
9.2.5.5 Others
9.2.6 Historic and Forecasted Market Size By Application
9.2.6.1 Civil Infrastructure
9.2.6.2 Aerospace
9.2.6.3 Energy
9.2.6.4 Transportation
9.2.6.5 Others
9.2.7 Historic and Forecasted Market Size By End User
9.2.7.1 Construction
9.2.7.2 Manufacturing
9.2.7.3 Transportation
9.2.7.4 Energy & Utilities
9.2.7.5 Others
9.2.8 Historic and Forecast Market Size by Country
9.2.8.1 US
9.2.8.2 Canada
9.2.8.3 Mexico
9.3. Eastern Europe Structural Health Monitoring Market
9.3.1 Key Market Trends, Growth Factors and Opportunities
9.3.2 Top Key Companies
9.3.3 Historic and Forecasted Market Size by Segments
9.3.4 Historic and Forecasted Market Size By Component
9.3.4.1 Hardware
9.3.4.2 Software
9.3.4.3 Services
9.3.5 Historic and Forecasted Market Size By Technology
9.3.5.1 Vibration-Based Monitoring
9.3.5.2 Strain-Based Monitoring
9.3.5.3 Acoustic Emission Monitoring
9.3.5.4 Displacement-Based Monitoring
9.3.5.5 Others
9.3.6 Historic and Forecasted Market Size By Application
9.3.6.1 Civil Infrastructure
9.3.6.2 Aerospace
9.3.6.3 Energy
9.3.6.4 Transportation
9.3.6.5 Others
9.3.7 Historic and Forecasted Market Size By End User
9.3.7.1 Construction
9.3.7.2 Manufacturing
9.3.7.3 Transportation
9.3.7.4 Energy & Utilities
9.3.7.5 Others
9.3.8 Historic and Forecast Market Size by Country
9.3.8.1 Russia
9.3.8.2 Bulgaria
9.3.8.3 The Czech Republic
9.3.8.4 Hungary
9.3.8.5 Poland
9.3.8.6 Romania
9.3.8.7 Rest of Eastern Europe
9.4. Western Europe Structural Health Monitoring Market
9.4.1 Key Market Trends, Growth Factors and Opportunities
9.4.2 Top Key Companies
9.4.3 Historic and Forecasted Market Size by Segments
9.4.4 Historic and Forecasted Market Size By Component
9.4.4.1 Hardware
9.4.4.2 Software
9.4.4.3 Services
9.4.5 Historic and Forecasted Market Size By Technology
9.4.5.1 Vibration-Based Monitoring
9.4.5.2 Strain-Based Monitoring
9.4.5.3 Acoustic Emission Monitoring
9.4.5.4 Displacement-Based Monitoring
9.4.5.5 Others
9.4.6 Historic and Forecasted Market Size By Application
9.4.6.1 Civil Infrastructure
9.4.6.2 Aerospace
9.4.6.3 Energy
9.4.6.4 Transportation
9.4.6.5 Others
9.4.7 Historic and Forecasted Market Size By End User
9.4.7.1 Construction
9.4.7.2 Manufacturing
9.4.7.3 Transportation
9.4.7.4 Energy & Utilities
9.4.7.5 Others
9.4.8 Historic and Forecast Market Size by Country
9.4.8.1 Germany
9.4.8.2 UK
9.4.8.3 France
9.4.8.4 The Netherlands
9.4.8.5 Italy
9.4.8.6 Spain
9.4.8.7 Rest of Western Europe
9.5. Asia Pacific Structural Health Monitoring Market
9.5.1 Key Market Trends, Growth Factors and Opportunities
9.5.2 Top Key Companies
9.5.3 Historic and Forecasted Market Size by Segments
9.5.4 Historic and Forecasted Market Size By Component
9.5.4.1 Hardware
9.5.4.2 Software
9.5.4.3 Services
9.5.5 Historic and Forecasted Market Size By Technology
9.5.5.1 Vibration-Based Monitoring
9.5.5.2 Strain-Based Monitoring
9.5.5.3 Acoustic Emission Monitoring
9.5.5.4 Displacement-Based Monitoring
9.5.5.5 Others
9.5.6 Historic and Forecasted Market Size By Application
9.5.6.1 Civil Infrastructure
9.5.6.2 Aerospace
9.5.6.3 Energy
9.5.6.4 Transportation
9.5.6.5 Others
9.5.7 Historic and Forecasted Market Size By End User
9.5.7.1 Construction
9.5.7.2 Manufacturing
9.5.7.3 Transportation
9.5.7.4 Energy & Utilities
9.5.7.5 Others
9.5.8 Historic and Forecast Market Size by Country
9.5.8.1 China
9.5.8.2 India
9.5.8.3 Japan
9.5.8.4 South Korea
9.5.8.5 Malaysia
9.5.8.6 Thailand
9.5.8.7 Vietnam
9.5.8.8 The Philippines
9.5.8.9 Australia
9.5.8.10 New Zealand
9.5.8.11 Rest of APAC
9.6. Middle East & Africa Structural Health Monitoring Market
9.6.1 Key Market Trends, Growth Factors and Opportunities
9.6.2 Top Key Companies
9.6.3 Historic and Forecasted Market Size by Segments
9.6.4 Historic and Forecasted Market Size By Component
9.6.4.1 Hardware
9.6.4.2 Software
9.6.4.3 Services
9.6.5 Historic and Forecasted Market Size By Technology
9.6.5.1 Vibration-Based Monitoring
9.6.5.2 Strain-Based Monitoring
9.6.5.3 Acoustic Emission Monitoring
9.6.5.4 Displacement-Based Monitoring
9.6.5.5 Others
9.6.6 Historic and Forecasted Market Size By Application
9.6.6.1 Civil Infrastructure
9.6.6.2 Aerospace
9.6.6.3 Energy
9.6.6.4 Transportation
9.6.6.5 Others
9.6.7 Historic and Forecasted Market Size By End User
9.6.7.1 Construction
9.6.7.2 Manufacturing
9.6.7.3 Transportation
9.6.7.4 Energy & Utilities
9.6.7.5 Others
9.6.8 Historic and Forecast Market Size by Country
9.6.8.1 Turkiye
9.6.8.2 Bahrain
9.6.8.3 Kuwait
9.6.8.4 Saudi Arabia
9.6.8.5 Qatar
9.6.8.6 UAE
9.6.8.7 Israel
9.6.8.8 South Africa
9.7. South America Structural Health Monitoring Market
9.7.1 Key Market Trends, Growth Factors and Opportunities
9.7.2 Top Key Companies
9.7.3 Historic and Forecasted Market Size by Segments
9.7.4 Historic and Forecasted Market Size By Component
9.7.4.1 Hardware
9.7.4.2 Software
9.7.4.3 Services
9.7.5 Historic and Forecasted Market Size By Technology
9.7.5.1 Vibration-Based Monitoring
9.7.5.2 Strain-Based Monitoring
9.7.5.3 Acoustic Emission Monitoring
9.7.5.4 Displacement-Based Monitoring
9.7.5.5 Others
9.7.6 Historic and Forecasted Market Size By Application
9.7.6.1 Civil Infrastructure
9.7.6.2 Aerospace
9.7.6.3 Energy
9.7.6.4 Transportation
9.7.6.5 Others
9.7.7 Historic and Forecasted Market Size By End User
9.7.7.1 Construction
9.7.7.2 Manufacturing
9.7.7.3 Transportation
9.7.7.4 Energy & Utilities
9.7.7.5 Others
9.7.8 Historic and Forecast Market Size by Country
9.7.8.1 Brazil
9.7.8.2 Argentina
9.7.8.3 Rest of SA
Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies
Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research
Structural Health Monitoring Market Scope:
Structural Health Monitoring Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 3.73 Billion |
Forecast Period 2024-32 CAGR: |
19.4% |
Market Size in 2032: |
USD 18.40 Billion |
Segments Covered: |
By Component |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Structural Health Monitoring Market research report is 2024-2032.
Geosense (United Kingdom), Sisgeo (Italy), Vibration Monitoring Solutions (United States), Kinemetrics (United States), National Instruments (United States), RST Instruments (Canada), FPrime (United States), Geocomp Corporation (United States), and Other Active Players.
The Structural Health Monitoring Market is segmented into Component, Technology, Application, End User and region. By Component, the market is categorized into Hardware, Software, Services. By Technology, the market is categorized into Vibration-Based Monitoring, Strain-Based Monitoring, Acoustic Emission Monitoring, Displacement-Based Monitoring, Others. By Application, the market is categorized into Civil Infrastructure, Aerospace, Energy, Transportation, Others. By End User, the market is categorized into Construction, Manufacturing, Transportation, Energy & Utilities, Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
It is a market for SHM where structures like building, bridges and infrastructure are health monitored with the help of sensor, data acquisition system and software. SHM remains intended in the area of making sure that safety, durability and performance of these structures are achieved by developing assessment techniques for early identification of probable damage, observation of behavior of the structures in relation to their actual performance, and provision of immediate information to offer timely maintenance and repair.
Structural Health Monitoring Market Size Was Valued at USD 3.73 Billion in 2023, and is Projected to Reach USD 18.40 Billion by 2032, Growing at a CAGR of 19.4% From 2024-2032.