The global structural health monitoring market reached a value of US$ 1.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2027, exhibiting at a CAGR of 14.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Structural health monitoring (SHM) refers to the process of observing and scanning 3D, aerospace, civil, mechanical and infrastructural structures to detect faults and abnormalities. The information is collected through multiple sensors that transmit continuous data throughout the service life of the structure. It involves the use of non-destructive acoustic emission, ultrasonic and thermal imaging technologies to prevent any anomalies caused by deterioration, incorrect construction, lack of quality control or excessive accidental or environmental load. SHM is widely used for bridges, power and wind energy plants, water, gas and oil pipelines, tunnels, rigs and pavements. It is also utilized for detecting internal or external wear and malfunction in marine vessels, aircraft and heavy commercial automobiles.

Structural Health Monitoring Market Trends:
The increasing requirement for standardization and automation for the repair and maintenance of civil and infrastructural constructions is one of the key factors driving the market growth. Due to rapid digitization and the advent of smart sensors, SHM is widely used for the design, analysis, and maintenance of modern civil engineering structures and systems. Contractors are also able to utilize SHM solutions for remote monitoring of construction processes to exercise control over quality. Additionally, various technological advancements, such as the integration of innovative communication modules and data acquisition systems for the processing and analysis of information, are acting as other growth-inducing factors. These solutions enable the consumers to include electrical, magnetic, thermal, physical and chemical variables for improved analysis of the structural health. Other factors, including the implementation of favorable government policies to promote public safety, along with extensive infrastructural development, especially in the emerging economies, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global structural health monitoring market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, technology, implementation method and vertical.

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
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
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 Inc., COWI A/S, Digitexx Data Systems Inc., FEAC Engineering, HBK – Hottinger Br?el & Kj?r (Spectris plc), James Fisher and Sons plc, National Instruments Corporation, RST Instruments Ltd., Sisgeo S.r.l. and Sixense Enterprises Inc. Key Questions Answered in This Report:
How has the global structural health monitoring market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global structural health monitoring market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the implementation method?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global structural health monitoring market and who are the key players?
What is the degree of competition in the industry?