Structural Health Monitoring is the practice of implementing a damage detection and characterization strategy for engineering structures namely buildings and bridges. In layman’s terms, it is the process of gaining knowledge of the integrity of the in-service structures on a constant real-time basis. The SHM process includes the observation of a system over time with the help of periodically sampled response measurements from an array of sensors. There are different processes involved in SHM namely operational evaluation, data acquisition, normalization, and cleansing, feature extraction and data compression, and statistical model development. SHM system’s elements include structure, sensors, data acquisition systems, data transfer and storage mechanism, data management, and data interpretation and diagnosis.
The Global Structural Health Monitoring market was valued for US$ 1,989.00 Mn in 2021 is expected to exhibit a CAGR of 15.8 % during the forecast period.
|Base Year:||2021||Market Size in 2021:||US$ 1,989.0 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||15.8%||2030 Value Projection:||US$ 7,208.5 Mn|
Nova Metrix LLC, National Instruments Corporation, Kinemetrics Inc., Advitam Inc. (Vinci SA), Hottinger Baldwin Messtechnik GmbH, Digitexx Data Systems, Inc., Geocomp Corporation, Acellent Technologies, Inc., Strainstall UK Limited (James Fisher & Sons PLC), and COWI A/S.
|Restraints & Challenges:||
Global Structural Health Monitoring Market - Impact of Coronavirus (Covid-19) Pandemic :
The COVID-19 pandemic has affected the Global Structural Health Monitoring market significantly. The lockdown was imposed across the globe as a precautionary measure by governments. This led to temporary suspension of all businesses in the construction, maintenance and repair sector. Supply chain and logistic operations were disrupted causing decrease in demand for monitoring devices and services. This also hampered the manufacturing of structural health monitors which have wide usage in the construction sector and hence the Global Structural Health Monitoring market witnessed slow growth during the pandemic.
North America held a dominant position in the Global Structural Health Monitoring market in 2021
North America region dominated the Global Structural Health Monitoring market in 2021, accounting for a 33% share in terms of value, followed by Europe, Asia Pacific, Middle East & Africa and Latin America, respectively
Figure 1: Global Structural Health Monitoring Market Share (%), By Region, 2021
Europe and Asia Pacific were the two leading markets in terms of revenue in 2021, and are expected to hold their dominant positions over the forecast period. The market growth in these regions is attributed to the growing construction industry coupled with rising pollution. Structural health monitoring components are majorly used in bridges, dams, etc. in the construction industry. Additionally, these solutions can be integrated with IoT devices to analyse pollution levels. This is expected to drive demand for structural health monitoring over the forecast period.
The Asia Pacific region is expected to gain traction during the forecast period. The countries in the Asia Pacific region are constantly investing in the construction sector. New projects are initiated to meet the requirements of countries such as India, Bangladesh, Taiwan, and others. The construction of new projects will increase the demand for structural health monitoring in the construction sector, where it is used for damage detection and characterization strategies for engineering structures, among other uses. Hence, the global structural health monitoring market is expected to gain traction in the Asia Pacific region in the forecast period.
Figure 2: Global Structural Health Monitoring Market (US$ Mn) Analysis and Forecast, 2022 - 2030
The Global Structural Health Monitoring market was valued at US$ 1,989.00 Mn in 2021 and is expected to reach US$ 7,208.53 Mn by 2030, growing at a CAGR of 15.8% between 2022 and 2030.
Major players operating in the Global Structural Health Monitoring market include Nova Metrix LLC, National Instruments Corporation, Kinemetrics Inc., Advitam Inc. (Vinci SA), Hottinger Baldwin Messtechnik GmbH, Digitexx Data Systems, Inc., Geocomp Corporation, Acellent Technologies, Inc., Strainstall UK Limited (James Fisher & Sons PLC), and COWI A/S.
The process used for implementing damage detection for engineering designs such as dams, buildings, and bridges is referred to as Structural Health Monitoring (SHM). The SHM system is used for analyzing and monitoring the health of various structure such as buildings, bridges, dams, stadiums, and large machineries. There are different methods involved in structural health monitoring including data acquisition, operational evaluation, normalization, cleansing, and statistical model development. SHM systems elements include structure, sensors, data acquisition systems, data transfer and storage mechanism, data management, and data interpretation and diagnosis. SHM provides the safety of the structure by monitoring and evaluating its various parameters such as crack detection, damage detection, strain monitoring, and impact monitoring to protect the structure from any type of danger.
The Structural Health Monitoring market was valued for US$ 1,989.0 Mn in 2021.
Growing advancement in wireless technology is expected to drive the growth of global structural health monitoring market (SHM). This wireless technology eliminated the use of wire and stopped the installation and protection of cable wire which reduced the cost of wireless SHM. These solutions are helpful in providing safety levels as they can be arranged remotely or before installation and replaced easily for the maintenance. Moreover, ease of connectivity, ample control over these systems, and enhanced communication are expected to propel growth of the global structural health market over the forecast period. For instance, Zig Bee is a wireless mesh network system who consumes low power and is used for wireless control and monitoring applications. Low power consumption provides long life batteries, while mesh networking provides high reliability and extensive range of connectivity.
Software and services is also driving the growth of this market owing to the growing importance of civil projects. SHM processes are becoming essential to identify the failures in the various structural designs such a dams, bridges, highway and buildings. The main approach of SHM is to collect data about the whole condition of the structures. The demand for software application and software algorithm is increased for the collection of various kinds of structural data. For instance, SCADA and MATLAB are used for identifying the damage detection in the engineering structures. These software’s detect damage at the initial stage and provides safety from any type of hazard. Hence, these factors are expected to hamper the market growth up to a certain extent.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.