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  • Published On : Dec 2022
  • Code : CMI3529
  • Industry : Smart Technologies
  • Pages : 140
  • Formats :

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.

Recent Developments:

  • In November 1 2022 - National Instruments Corporation, an automated measurement system provider introduced new Technology for Structural Testing and Health Monitoring which combines several measurement and physical sensing methods. This also features remote, continuous processing to capture real time data and record it to historical record for continuous assessment.

Restraint:

  • Lack of skilled professionals is expected to hinder the Global Structural Health Monitoring market growth over the forecast period
  • Threats concerning cyber-attacks on connected SHM systems are expected to restrain growth of the Global Structural Health Monitoring system market during the forecast period
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Structural Health Monitoring Market Report Coverage

Report Coverage Details
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
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Type: Wired and Wireless SHM System
  • By Component: Hardware (Sensors, Data Acquisition System and Others), Software (Design & Analysis, Parameter Identification & Tracking and Others ) and Services (Installation Services ,Design & Consulting Service, Operation & Maintenance Services)
  • By Application: Bridges & Dams, Buildings & Stadiums, Vessels & Platforms, Airframes & Wind Turbines and Large Machinery & Equipment
Companies covered:

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.

Growth Drivers:
  • Increasing government initiatives for public safety combined with standardization of the SHM system is expected to drive growth of the Global Structural Health Monitoring market during the forecast period
  • High availability of low-cost sensors is expected to propel the Global Structural Health Monitoring market growth over the forecast period.
Restraints & Challenges:
  • Lack of skilled professionals is expected to hinder the Global Structural Health Monitoring market growth over the forecast period
  • Threats concerning cyber-attacks on connected SHM systems are expected to restrain growth of the Global Structural Health Monitoring system market during the forecast period.

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

Statistics:

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

Structural Health Monitoring  | Coherent Market Insights

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

Structural Health Monitoring  | Coherent Market Insights

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.

Market Dynamics

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:

  • This report provides an in-depth analysis of the global structural health monitoring market and provides market size (US$ 1,989.0 million) and compound annual growth rate (CAGR 15.8%) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global structural health monitoring market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Structural Health Monitoring Market includes 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.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global structural health monitoring market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global structural health monitoring market.

Detailed Segmentation

  • Global Structural Health Monitoring Market, By Type:
    • Wired SHM System
    • Wireless SHM System
  • Global Structural Health Monitoring Market, By Component:
    • Hardware
      • Sensors
      • Data Acquisition System
      • Others
    • Software
      • Design & Analysis
      • Parameter Identification & Tracking
      • Others
    • Services
      • Installation Services
      • Design & Consulting Services
      • Operation & Maintenance Services
  • Global Structural Health Monitoring Market, By Application:
    • Bridges & Dams
    • Buildings & Stadiums
    • Vessels & Platforms
    • Airframes & Wind Turbines
    • Large Machinery & Equipment
  • Global Structural Health Monitoring Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Nova Metrix LLC *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • 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)
    • COWI A/S

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The Structural Health Monitoring market is expected to reach US$ 7,208.5 million by 2030.
The sensor market is expected to witness a CAGR of 15.8% during the forecast period (2022-2030).
Growing application of Structural Health Monitoring in technological devices like Wired SHM is expected to drive the growth of the market. 
Wired SHM segment held the largest market share among the application in 2021.
North America held the largest share in the market in 2021.
Key players operating in the market are 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.

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