The Global Structural Health Monitoring Market was valued at US$ 1,989.0 Million in 2021 and is expected to surpass US$ 7,208.5 Million by 2030, registering a CAGR of 15.8% during the forecast period (2022-2030), according to the Global Structural Health Monitoring Market, 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), and by Region (North America, Latin America, Europe, APAC and Middle East & Africa), published by Coherent Market Insights.
Structural health monitoring is the process of employing a damage detection and classification strategy for engineering structures such as dams, buildings, and bridges. In other words, it is the practice of acquiring knowledge of the integrity of the in-service structures on a constant real-time basis. The SHM practice involves the observation of a system over time utilizing 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.
Wireless solutions reduce installation costs and sensor installation time. These solutions also enhance the safety levels as they can be configured remotely or before installation and accessed or replaced easily for calibration and 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, ZigBee is a low-cost, low-power consuming, wireless mesh network system. Low cost allows the technology to be widely deployed in wireless control and monitoring applications. Low power-usage allows longer life with smaller batteries, while mesh networking provides high reliability and a more extensive range of connectivity. Moreover, constantly fluctuating crude oil prices and expected oil production peak of current reservoirs are encouraging oil companies to increase investment in seismic exploration programs. Replacement of cabling with wireless technology is expected to enhance the quality of depth imaging and simplify acquisition logistics. Furthermore, technological advancements Wireless Sensor Networks (WSN) fulfill rigid constraints imposed by seismic acquisition systems, which have a large number of sensors (> 10,000) over the monitoring area (> 5 km2).
Key Developments
- In Oct 11, 2022, James Fisher & Sons PLC, an industrial service provider, offered structural health monitoring system for the tallest railway bridge, in India. Under this project, Indian Railway is constructing a railway line across the Indian territory of Jammu and Kashmir. The authority is anticipated to use the structural health monitoring systems to monitor the overall project.
Global Structural Health Monitoring Market - Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 pandemic has adversely affected the global Structural health monitoring market. Structural health monitoring is widely used in Bridges & Dams as they have the capability to detect a wide range of errors and problems that can cause malfunctions in the structures. Due to the pandemic, Bridges & Dams faced financial crises due to which many new projects were suspended which directly impacted the sales of the Structural health monitoring used in Bridges & Dams. Hence, the global Structural health monitoring market witnessed slow growth during the pandemic.
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https://www.coherentmarketinsights.com/market-insight/structural-health-monitoring-market-3529
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Key Trends and Analysis of the Global Structural health monitoring (SHM) Market:
- Key hardware manufacturers in the region are focused on enhancing DAQ platforms for SHM systems. For instance, in August 2016, National Instruments Corporation introduced compact RIO platform, which is an advanced embedded data acquisition and control system, which enhances the performance and reliability of monitoring systems. Furthermore, in March 2014, Bridge Diagnostic Inc. introduced STS4 wireless data acquisition system, which is used to test integrity of various structures.
- Local market players in the region are focused on enhancing the SHM solution portfolio, in order to expand consumer base and gain competitive edge in the regional market. For instance, February 2015, Condoza Software Solutions Corp. (CSSC), a Philippines-based software company, announced plans to enhance presence in ASEAN market countries and monitoring-based solutions, which gathers and offers critical data in real regarding ground movement, peak ground acceleration, GPS data, displacement, and velocity as events trigger the sensors. Moreover, in 2015, National ICT Australia Ltd. (NICTA), an Australia-based research center for information and communication technology, developed a monitoring system for the Sydney Harbour Bridge, where it installed over 2,000 sensors, and machine learning-based predictive analytics assesses data continuously and provides early warning of possible problems.
- 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.
