Structural Health Monitoring Market- Industry Trends and Forecast to 2025
Global
Structural Health
Monitoring Market, By Technology (Wired Structural Health Monitoring, Wireless
Structural Health Monitoring), Offering (Hardware, Software & Services),
Vertical (Civil Infrastructure, Aerospace & Defence, Energy, Mining),
Implementation Methods (New Construction, Retrofitting),
Application, Geographical Segments (North America, South America, Europe,
Asia-Pacific, Middle East and Africa)- Industry Trends and Forecast to 2025
Key Players: Global Structural Health
Monitoring Market
The
renowned players in structural health monitoring market are Nova Metrix,
Geokon, Campbell Scientific, Cowi, Geocomp, Acellent, Sixense, Pure
Technologies, Structural Monitoring Systems, Digitexx, First Sensor, Bridge
Diagnostics, Sisgeo, Rst Instruments, Avt Reliability (Aesseal), Geomotion Singapore,
Strainstall UK (James Fisher & Sons PLC), Hottinger Baldwin Messtechnik,
Kinemetrics, Feac Engineering, Yapidestek Engineering and many
more.
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Market
Drivers and Restraints:
·
High capital investments for structural health monitoring
·
Aging infrastructure and superior benefits of structural health
monitoring
·
Decreasing cost of sensors resulting in reduced structural
health monitoring system cost
·
High installation and monitoring costs
·
Inaccurate results due to errors in readings
Market Analysis: Global Structural
Health Monitoring Market
The Global Structural
Health Monitoring Market is expected to reach USD 4.7 billion by
2025 from USD 1.2 billion in 2017 and is projected to grow at a CAGR of 17.9%
in the forecast period of 2018 to 2025. The upcoming market report contains
data for historic year 2016, the base year of calculation is 2017 and the
forecast period is 2018 to 2025.
Market Definition: Global Structural
Health Monitoring Market
Structural
Health Monitoring (SHM) is characterized as the utilization of non-ruinous
detecting and investigation of basic qualities to recognize if any harm has
happened at a specific area and gauge its seriousness and assess results. The
variables that drive the development of the worldwide structural health
monitoring market estimate the incorporate fast infrastructural improvement
everywhere throughout the world, rising government activities for open security
and broad scope of transfer of sensors that are accessible in low cost. Then
again, there are likewise factors that hamper the development of the market,
for example, trouble in introducing basic wellbeing observing answers for
enormous structures alongside a deficiency of talented experts.
In
Jan 2018, Penumbra, Inc, a global healthcare company focused on innovative
therapies, announced that it has entered into a joint venture called MVI Health
Inc., for the purpose of exploring healthcare applications of virtual reality
technology with Sixense Enterprises, Inc.
Market Segmentation: Global Structural
Health Monitoring Market
·
The market is segmented based on technology, offering, vertical,
implementation method, applications and geographical segments.
·
Based on Technology, the market is segmented into wired
structural health monitoring and wireless structural health monitoring.
·
Based on Offering, the market is segmented into hardware and
software & services. The hardware segment is sub segmented into sensors,
data acquisition systems (DAS) and communication systems and others. The
software & services segment is sub segmented into pre-installation and
post-installation.
·
Based on Vertical, the market is segmented into civil
infrastructure, aerospace & defence, energy and mining. The civil
infrastructure segment is sub segmented into dams, bridges, stadiums,
buildings, tunnels, others. The aerospace & defence is sub segmented into
aerospace and defence.
·
Based on Implementation Method, the market is segmented into new
construction, retrofitting.
·
Based on Application, the market is segmented into structural
health monitoring and nondestructive testing, damage detection, crack
detection, impact monitoring, corrosion monitoring, strain monitoring, hotspot
monitoring, state sensing and multimodal sensing.
·
Based on geography, the market report covers data points for 28
countries across multiple geographies such as North America, South America,
Europe, Asia-Pacific and Middle East & Africa. Some of the major countries
covered in this report are U.S., Canada, Germany, France, U.K., Netherlands,
Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia,
Singapore, South Africa, and Brazil among others.
Competitive Analysis: Global Structural
Health Monitoring Market
The
global structural health monitoring market is fragmented and the major players
have used various strategies such as new product launches, expansions,
agreements, joint ventures, partnerships, acquisitions, and others to increase
their footprints in this market in order to sustain in long run. The report
includes market shares of global structural health monitoring market for
global, Europe, North America, Asia Pacific and South America. In
April 208, HBM and BKSV got merged together to to increase their business in
health monitoring systems among different countries worldwide.
Research Methodology: Global Structural
Health Monitoring Market
Data
collection and base year analysis is done using data collection modules with
large sample sizes. The market data is analyzed and forecasted using market
statistical and coherent models. Also market share analysis and key trend
analysis are the major success factors in the market report. To know more
please Request an Analyst Call or
can drop down your inquiry.
Demand
Side Primary Contributors: OEMs, Industrial Professionals, Researches,
Suppliers and Distributors, Group Purchasing Organizations, Associations,
Insurers, Universities, Technological Writers, Scientists, Promoters, Investors
among others.
Supply
Side Primary Contributors: Product Managers, Marketing Managers, C-Level
Executives, Distributors, Market Intelligence, Regulatory Affairs Managers
among other
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