HOME Top Market Reports Structural Health Monitoring Market by Technology (Wired and Wireless), Offering (Hardware (Sensors, Data Acquisition Systems) and Software & Services), Vertical (Civil Infrastructure, Energy), Application, and Geography - Global Forecast to 2023

Structural Health Monitoring Market by Technology (Wired and Wireless), Offering (Hardware (Sensors, Data Acquisition Systems) and Software & Services), Vertical (Civil Infrastructure, Energy), Application, and Geography - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: July 2018
Report Code: SE 3865

 

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The overall structural health monitoring market was valued at USD 1.24 billion in 2017 and is estimated to reach USD 3.38 billion by 2023, at a CAGR of 17.93% between 2018 and 2023. The base year for this report is 2017, and the forecast period considered is between 2018 and 2023. Major factors driving the growth of the structural health monitoring market include high capital investments for structural health monitoring across various countries, stringent environmental regulations pertaining to the sustainability of structures, and a decrease in the cost of sensors that results in reducing the cost of the structural health monitoring system, among others.

The report aims at estimating the market size and growth potential of the structural health monitoring market based on technology, offering, vertical, and geographic region. Several application areas of structural health monitoring systems have also been described in the report. The report analyzes the structure of the market by identifying various segments of the structural health monitoring market. It aims at identifying major trends in and factors driving or restraining the growth of the structural health monitoring market and its several submarkets. Moreover, this report analyzes the value chain of the structural health monitoring ecosystem. Furthermore, the report analyzes opportunities in the market for stakeholders by identifying high-growth segments in the structural health monitoring market, strategically profiling the key market players, and comprehensively analyzing their market share and core competencies in each segment.

The research methodology used to estimate and forecast the structural health monitoring market begins with obtaining data on key vendor revenues through secondary research. Some of the secondary sources referred to for this research include the Aerospace Industry Steering Committee for Structural Health Monitoring (AISC-SHM), the Federal Highway Administration (FHWA), and International Society for Structural Health Monitoring of Intelligent Infrastructure (ISHMII), among others. Vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the structural health monitoring market from the revenues of the key players. After arriving at the overall market size, the total market has been split into several segments that have then been verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments.

The breakdown of primary participants has been depicted in the following figure:

Structural Health Monitoring (SHM) Market

To know about the assumptions considered for the study, download the pdf brochure

The structural health monitoring ecosystem includes hardware component offering companies such as Nova Metrix (US), Geokon (US), Campbell Scientific (US), RST Instruments (Canada), and Sisgeo (Italy). A few software and service providers include COWI (Denmark), Geocomp (US), Acellent (US), and SIXENSE (France), among many others.


Date

Company Name

Development

November 2017

Pure Technologies (Canada)

The Metropolitan Water District of Southern California (US) selected Pure Technologies to inspect water pipelines for 5 years. Such contracts would help the company to increase its net revenue.

June 2017

Acellent (US)

Acellent and TESTIA (Germany) announced the collaboration for the installation, marketing, and commercialization of Acellent’s structural health monitoring products. TESTIA is one of the prominent companies in Germany and Europe that provide nondestructive testing (NDT) services and quality services to the aerospace industry. TESTIA wants to expand its offerings in the structural health monitoring segment. With this collaboration, Acellent would expand its business in Europe.


Date

Company Name

Development

October 2017

Campbell Scientific (US)

The company launched the CR310 data acquisition system. This system is designed for making accurate measurements pertaining to weather and water monitoring, structural monitoring, and windfarm station monitoring applications.

December 2016

Acellent (US)

Acellent launched various new products and solutions pertaining to infrastructure health monitoring, namely ScanGenie III, a data collection hardware; SHM Pro Software Suite, software that fulfills the requirement of data processing and analysis; and SMART Layer II Sensor Network, which monitors the health of a wide variety of structures. With this launch, the company is expanding its portfolio of the products used for structural health monitoring.


Date

Company Name

Development

March 2017

COWI (Denmark)

COWI acquired Projektbyrån, a Swedish company expert in project management services. This acquisition is expected to help COWI to grow further using Projektbyrån’s key competencies in various complex projects.

November 2016

SIXENSE (France)

Advitam Group (France) announced its merger with SIXENSE. This merger further improved the offerings of SIXENSE in the structural health monitoring market.


Source: Press Releases and MarketsandMarkets Analysis

Target Audience of the Report:

The intended audience for this report includes:

  • Semiconductor and electronic component manufacturers and distributors
  • Sensor manufacturers and distributors
  • Raw material and manufacturing equipment suppliers
  • Original equipment manufacturers (OEMs)
  • ODM and OEM technology solution providers
  • Technology standards organizations, forums, alliances, and associations
  • Government bodies, venture capitalists, and private equity firms
  • System integrators
  • Technology investors

Scope of the Report

In this report, the structural health monitoring market has been segmented on the basis of technology, offering, and geographic region. To provide a holistic picture, current market demands and forecasts have been included in the report. The research report segments the structural health monitoring market as follows:

Structural Health Monitoring Market By Technology:

  • Wired
  • Wireless

Structural Health Monitoring Market By Offering:

  • Hardware
    • Sensors
    • Data Acquisition Systems
    • Others (Cabling, Terminal Blocks and Connectors, Enclosures, and Cabinets)
  • Software & Services
    • Software
    • Services
      • Pre-installation
      • Post-installation

Structural Health Monitoring Market By Vertical:

  • Civil Infrastructure
  • Aerospace & Defense
  • Energy
  • Mining
  • Others (Industrial Machinery, Automotive, Transportation, and Marine Structures)

Structural Health Monitoring Market By Region:

  • Americas
  • Asia Pacific (APAC)
  • Europe 
  • Rest of the World (RoW)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company information:

Detailed analysis and profiling of additional 5 market players



Get more insight on other verticals of Semiconductor and Electronics Market Research Reports & Consulting

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 21)

    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data for Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 33)

    4.1 Attractive Opportunities in the Structural Health Monitoring Market
    4.2 Structural Health Monitoring Market, By Hardware
    4.3 Structural Health Monitoring Market in APAC, By Vertical and Country
    4.4 Structural Health Monitoring Market, By Geography

5 Market Overview (Page No. - 36)

    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Catastrophic Failure of the Infrastructure Results in Loss of Lives and Incurs High Costs
                    5.2.1.2 High Capital Investments for Structural Health Monitoring Across Various Countries Worldwide
                    5.2.1.3 Stringent Government Regulations Pertaining to Sustainability of Structures
                    5.2.1.4 Aging Infrastructure and Superior Benefits of Structural Health Monitoring
                    5.2.1.5 Decreasing Cost of Sensors Results in Reducing the Structural Health Monitoring System Cost
           5.2.2 Restraints
                    5.2.2.1 High Installation and Monitoring Costs
                    5.2.2.2 Inaccurate Results Due to Errors in Readings
                    5.2.2.3 Slow Growth in Developing Countries
           5.2.3 Opportunities
                    5.2.3.1 Regional Opportunities in APAC and GCC Countries
                    5.2.3.2 Public–Private Partnerships (P3S Or PPPS) for Infrastructural Growth
                    5.2.3.3 Use of Advanced Sensor Technologies
                    5.2.3.4 Integration Technology
           5.2.4 Challenges
                    5.2.4.1 Requirement of Skilled Labors/Operators for Installation and Calibration of Structural Health Monitoring Instruments
                    5.2.4.2 Technical Challenges and Operational Factors
                    5.2.4.3 Need for Large Amounts of Data Processing and Management

6 Industry Trends (Page No. - 47)

    6.1 Value Chain Analysis
           6.1.1 Instrumentation and Hardware Manufacturers
                    6.1.1.1 Research and Development
                    6.1.1.2 Raw Material/Component Supply
                    6.1.1.3 Manufacturing and Assembly
                    6.1.1.4 Product Distribution
                    6.1.1.5 Post-Sales Services
           6.1.2 Software and Service Providers
           6.1.3 End Users
    6.2 Market Evolution
    6.3 Key Trends

7 Structural Health Monitoring Market, By Technology (Page No. - 51)
    7.1 Introduction
    7.2 Wired Structural Health Monitoring
    7.3 Wireless Structural Health Monitoring

8 Structural Health Monitoring Market, By Offering (Page No. - 57)
    8.1 Introduction
    8.2 Hardware
           8.2.1 Sensors
                    8.2.1.1 Accelerometers
                    8.2.1.2 Displacement Sensors
                    8.2.1.3 Inclinometers and Tiltmeters
                    8.2.1.4 Strain Gauges
                    8.2.1.5 Corrosion Sensors
                    8.2.1.6 Temperature Sensors
                    8.2.1.7 Others (Acoustic Sensors, Ultrasonic Sensors, and So On)
           8.2.2 Data Acquisition Systems (DAS) and Communication Systems
           8.2.3 Others
    8.3 Software & Services
           8.3.1 Software
           8.3.2 Services
                    8.3.2.1 Pre-Installation
                    8.3.2.2 Post-Installation

9 Structural Health Monitoring Market, By Vertical (Page No. - 70)
    9.1 Introduction
    9.2 Civil Infrastructure
           9.2.1 Dams
           9.2.2 Bridges
           9.2.3 Stadiums
           9.2.4 Buildings
           9.2.5 Tunnels
           9.2.6 Others
    9.3 Aerospace & Defence
           9.3.1 Aerospace
           9.3.2 Defense
    9.4 Energy
    9.5 Mining
    9.6 Others

10 Implementation Methods for Structural Health Monitoring Systems (Page No. - 83)
     10.1 Introduction
     10.2 New Construction
     10.3 Retrofitting

11 Applications of Structural Health Monitoring Systems (Page No. - 86)
     11.1 Introduction
     11.2 Structural Health Monitoring and Nondestructive Testing
     11.3 Damage Detection
     11.4 Crack Detection
     11.5 Impact Monitoring
     11.6 Corrosion Monitoring
     11.7 Strain Monitoring
     11.8 Hotspot Monitoring
     11.9 State Sensing
     11.10 Multimodal Sensing

12 Structural Health Monitoring Market, By Region (Page No. - 91)
     12.1 Introduction
     12.2 Americas
             12.2.1 North America
                        12.2.1.1 US
             12.2.2 Rest of North America
                        12.2.2.1 Canada
                        12.2.2.2 Mexico
             12.2.3 South America
                        12.2.3.1 Brazil
                        12.2.3.2 Rest of South America
     12.3 Europe
             12.3.1 UK
             12.3.2 Germany
             12.3.3 France
             12.3.4 Rest of Europe
     12.4 APAC
             12.4.1 China
             12.4.2 Japan
             12.4.3 South Korea
             12.4.4 Rest of APAC
     12.5 Rest of the World (RoW)
             12.5.1 Middle East
             12.5.2 Africa

13 Competitive Landscape (Page No. - 124)
     13.1 Overview
     13.2 Ranking of Players, 2017
     13.3 Competitive Scenario
             13.3.1 Partnerships, Agreements, Collaborations, and Contracts
             13.3.2 Product Launches/Developments
             13.3.3 Mergers & Acquisitions

14 Company Profiles (Page No. - 131)
(Business Overview, Products & Solutions Offered, Brand-Wise Product Offerings, Recent Developments, SWOT Analysis and MnM View)*
     14.1 Key Players
             14.1.1 Nova Metrix
             14.1.2 Geokon
             14.1.3 Campbell Scientific
             14.1.4 Cowi
             14.1.5 Geocomp
             14.1.6 Acellent
             14.1.7 Sixense
             14.1.8 Pure Technologies
             14.1.9 Structural Monitoring Systems
             14.1.10 Digitexx
     14.2 Other Important Players
             14.2.1 First Sensor
             14.2.2 Bridge Diagnostics
             14.2.3 Sisgeo
             14.2.4 Rst Instruments
             14.2.5 Avt Reliability (Aesseal)
             14.2.6 Geomotion Singapore
             14.2.7 Strainstall UK (James Fisher & Sons PLC)
             14.2.8 Hottinger Baldwin Messtechnik
             14.2.9 Kinemetrics
     14.3 Start-Up Ecosystem
             14.3.1 Feac Engineering
             14.3.2 Yapidestek Engineering
             14.3.3 Sites-Afla
             14.3.4 Sensuron
             14.3.5 Infibra Technologies
             14.3.6 Sodis Lab
             14.3.7 Set Point Technologies

*Details on Business Overview, Products & Solutions Offered, Brand-Wise Product Offerings, Recent Developments, SWOT Analysis and MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 162)
     15.1 Insights of Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.4 Introducing RT: Real-Time Market Intelligence
     15.5 Available Customizations
     15.6 Related Reports
     15.7 Author Details


List of Tables (69 Tables)

Table 1 Errors and Corrective Measures in Structural Health Monitoring
Table 2 Global Structural Health Monitoring Market, By Technology, 2015–2023 (USD Million)
Table 3 Structural Health Monitoring Market for Wired Technology, By Region, 2015–2023 (USD Million)
Table 4 Comparison Between Wired and Wireless Structural Health Monitoring Systems
Table 5 Structural Health Monitoring Market for Wireless Technology, By Region, 2015–2023 (USD Million)
Table 6 Structural Health Monitoring Market, By Offering, 2015–2023 (USD Million)
Table 7 Structural Health Monitoring Market, By Hardware, 2015–2023 (USD Million)
Table 8 Structural Health Monitoring Market for Hardware, By Region, 2015–2023 (USD Million)
Table 9 Structural Health Monitoring Market for Sensors, By Type, 2015–2023 (USD Million)
Table 10 Structural Health Monitoring Market for Sensors, By Type, 2015–2023 (Thousand Units)
Table 11 Structural Health Monitoring Market for Sensors, By Region, 2015–2023 (USD Million)
Table 12 Structural Health Monitoring Market for Data Acquisition and Communication Systems, By Region, 2015–2023 (USD Million)
Table 13 Structural Health Monitoring Market for Other Hardware Components, By Region, 2015–2023 (USD Million)
Table 14 Structural Health Monitoring Market for Software & Services, By Region, 2015–2023 (USD Million)
Table 15 Structural Health Monitoring Market, By Vertical, 2015–2023 (USD Million)
Table 16 Structural Health Monitoring Market for Civil Infrastructure, By Region, 2015–2023 (USD Million)
Table 17 Structural Health Monitoring Market for Aerospace & Defense Vertical, By Region, 2015–2023 (USD Million)
Table 18 Structural Health Monitoring Market for Energy Vertical, By Region, 2015–2023 (USD Million)
Table 19 Structural Health Monitoring Market for Mining Vertical, By Region, 2015–2023 (USD Million)
Table 20 Structural Health Monitoring Market for Other Verticals, By Region, 2015–2023 (USD Million)
Table 21 Nondestructive Testing and Structural Health Monitoring
Table 22 Global Structural Health Monitoring Market, By Region, 2015–2023 (USD Million)
Table 23 Structural Health Monitoring Market in Americas, By Technology, 2015–2023 (USD Million)
Table 24 Structural Health Monitoring Market in Americas, By Offering, 2015–2023 (USD Million)
Table 25 Structural Health Monitoring Market in Americas, By Hardware, 2015–2023 (USD Million)
Table 26 Structural Health Monitoring Market in Americas, By Vertical, 2015–2023 (USD Million)
Table 27 Structural Health Monitoring Market in Americas, By Region, 2015–2023 (USD Million)
Table 28 Structural Health Monitoring Market in North America, By Hardware, 2015–2023 (USD Million)
Table 29 Structural Health Monitoring Market in North America, By Technology, 2015–2023 (USD Million)
Table 30 Structural Health Monitoring Market in North America, By Country, 2015–2023 (USD Million)
Table 31 Structural Health Monitoring Market in US, By Technology, 2015–2023 (USD Million)
Table 32 Structural Health Monitoring Market in South America, By Hardware, 2015–2023 (USD Million)
Table 33 Structural Health Monitoring Market in South America, By Technology, 2015–2023 (USD Million)
Table 34 Structural Health Monitoring Market in South America, By Country, 2015–2023 (USD Million)
Table 35 Structural Health Monitoring Market in Brazil, By Technology, 2015–2023 (USD Million)
Table 36 Structural Health Monitoring Market in Rest of South America, By Technology, 2015–2023 (USD Million)
Table 37 Major Structural Monitoring Projects in Americas
Table 38 Structural Health Monitoring Market in Europe, By Technology, 2015–2023 (USD Million)
Table 39 Structural Health Monitoring Market in Europe, By Offering, 2015–2023 (USD Million)
Table 40 Structural Health Monitoring Market in Europe, By Hardware, 2015–2023 (USD Million)
Table 41 Structural Health Monitoring Market in Europe, By Vertical, 2015–2023 (USD Million)
Table 42 Structural Health Monitoring Market in Europe, By Country, 2015–2023 (USD Million)
Table 43 Structural Health Monitoring Market in UK, By Technology, 2015–2023 (USD Million)
Table 44 Structural Health Monitoring Market in Germany, By Technology, 2015–2023 (USD Million)
Table 45 Structural Health Monitoring Market in France, By Technology, 2015–2023 (USD Million)
Table 46 Structural Health Monitoring Market in Rest of Europe, By Technology, 2015–2023 (USD Million)
Table 47 Major Structural Monitoring Projects in Europe
Table 48 Structural Health Monitoring Market in APAC, By Technology, 2015–2023 (USD Million)
Table 49 Structural Health Monitoring Market APAC, By Offering, 2015–2023 (USD Million)
Table 50 Structural Health Monitoring Market in APAC, By Hardware, 2015–2023 (USD Million)
Table 51 Structural Health Monitoring Market in APAC, By Vertical, 2015–2023 (USD Million)
Table 52 Structural Health Monitoring Market in APAC, By Country, 2015–2023 (USD Million)
Table 53 Structural Health Monitoring Market in China, By Technology, 2015–2023 (USD Million)
Table 54 Structural Health Monitoring Market in Japan, By Technology, 2015–2023 (USD Million)
Table 55 Structural Health Monitoring Market in South Korea, By Technology, 2015–2023 (USD Million)
Table 56 Structural Health Monitoring Market in Rest of APAC, By Technology, 2015–2023 (USD Million)
Table 57 Major Structural Monitoring Projects in APAC
Table 58 Structural Health Monitoring Market in RoW, By Technology, 2015–2023 (USD Million)
Table 59 Structural Health Monitoring Market in RoW, By Offering, 2015–2023 (USD Million)
Table 60 Structural Health Monitoring Market in RoW, By Hardware, 2015–2023 (USD Million)
Table 61 Structural Health Monitoring Market in RoW, By Vertical, 2015–2023 (USD Million)
Table 62 Structural Health Monitoring Market in RoW, By Region, 2015–2023 (USD Million)
Table 63 Structural Health Monitoring Market in Middle East, By Technology, 2015–2023 (USD Million)
Table 64 Structural Health Monitoring Market in Middle East, By Offering, 2015–2023 (USD Million)
Table 65 Structural Health Monitoring Market in Africa, By Technology, 2015–2023 (USD Million)
Table 66 Structural Health Monitoring Market in Africa, By Offering, 2015–2023 (USD Million)
Table 67 Major Structural Monitoring Projects in RoW
Table 68 Ranking Analysis Based on Hardware Offerings in the Structural Health Monitoring Market, 2017
Table 69 Ranking Analysis Based on Software and Service Offerings in the Structural Health Monitoring Market, 2017


List of Figures (47 Figures)

Figure 1 Market Segmentation: Structural Health Monitoring Market
Figure 2 Geographic Scope
Figure 3 Research Design
Figure 4 Data Triangulation
Figure 5 Structural Health Monitoring Market, By Technology, 2017–2023 (USD Million)
Figure 6 Structural Health Monitoring Market Share, By Offering, 2017 vs 2023
Figure 7 Aerospace & Defense Vertical to Exhibit the Highest CAGR in the Structural Health Monitoring Market During the Forecast Period
Figure 8 Structural Health Monitoring Market in APAC Expected to Register the Highest CAGR Between 2018 and 2023
Figure 9 Catastrophic Failure of the Infrastructure Results in Loss of Lives and Incurs Higher Costs Propels the Structural Health Monitoring Market Growth Between 2018 and 2023
Figure 10 Sensors Expected to Hold the Largest Share of the Overall Structural Health Monitoring Market for Hardware By 2023
Figure 11 Civil Infrastructure Held the Largest Share of the Structural Health Monitoring Market in APAC in 2017
Figure 12 US Held the Largest Market Share of the Global Structural Health Monitoring Market in 2017
Figure 13 Catastrophic Failure of the Infrastructure Results in Loss of Lives and Incurs High Costs
Figure 14 Concept of Structural Health Monitoring System
Figure 15 Actual Spending on Maintenance of Bridges vs Need for Capital Investment Till 2028 in the Us
Figure 16 Advantages of Structural Health Monitoring
Figure 17 Responsibilities/Costs Involved in Structural Health Monitoring
Figure 18 Value Chain of Structural Health Monitoring Ecosystem
Figure 19 Market Evolution
Figure 20 Structural Health Monitoring Market, By Technology
Figure 21 Market for Wireless Structural Health Monitoring Systems Expected to Grow at A Higher Rate Between 2018 and 2023
Figure 22 Market for Wireless Structural Health Monitoring Systems in APAC Estimated to Grow at the Highest CAGR Between 2018 and 2023
Figure 23 Structural Health Monitoring Market, By Offering
Figure 24 Structural Health Monitoring Market for Software & Services Estimated to Grow at A Higher Rate Between 2018 and 2023
Figure 25 Structural Health Monitoring Market, By Hardware
Figure 26 APAC to Exhibit the Highest CAGR in the Structural Health Monitoring Market for Sensors During the Forecast Period
Figure 27 APAC to Exhibit the Highest Growth in the Structural Health Monitoring Market for Software & Services During the Forecast Period
Figure 28 Structural Health Monitoring Market, By Vertical
Figure 29 Civil Infrastructure Estimated to Hold the Largest Size of the Structural Health Monitoring Market During 2018–2023
Figure 30 Structural Health Monitoring Market, By Civil Infrastructure
Figure 31 Americas to Hold the Largest Market Size in the Structural Health Monitoring Market for Aerospace & Defense Vertical During 2018–2023
Figure 32 Structural Health Monitoring Market in APAC for Energy Vertical Estimated to Grow at the Highest CAGR During 2018–2023
Figure 33 Implementation Methods for Structural Health Monitoring Systems
Figure 34 Applications of Structural Health Monitoring Systems
Figure 35 User Survey on Viability of Structural Health Monitoring Compared to Nondestructive Testing (NDT)
Figure 36 Structural Health Monitoring Market in China Expected to Grow at the Highest CAGR During the Forecast Period
Figure 37 Structural Health Monitoring Market in APAC Estimated to Grow at the Highest CAGR Between 2018 and 2023
Figure 38 Geographical Snapshot: Americas
Figure 39 Geographical Snapshot: Europe
Figure 40 Geographical Snapshot: APAC
Figure 41 Geographical Snapshot: RoW
Figure 42 Key Developments in the Structural Health Monitoring Market for Hardware Offerings
Figure 43 Key Developments in the Structural Health Monitoring Market for Software and Service Offerings
Figure 44 Product Launches/Developments, Partnerships, and Contracts Were the Key Strategies Adopted By Market Players Between 2015 and 2017
Figure 45 Cowi: Company Snapshot
Figure 46 Pure Technologies: Company Snapshot
Figure 47 Structural Monitoring Systems: Company Snapshot

The structural health monitoring market is estimated to grow from USD 1.48 billion in 2018 to USD 3.38 billion by 2023, at a CAGR of 17.93% between 2018 and 2023. The forecast period for this report is considered between 2018 and 2023. The factors that are driving the structural health monitoring market include the aging infrastructure and the superior benefits of structural health monitoring, a decrease in the cost of sensors that results in reducing the structural health monitoring system cost, and stringent environmental regulations pertaining to the sustainability of structures, among many others.

In this report, the structural health monitoring market has been segmented on the basis of technology, offering, vertical, and geography. Based on technology, the market for structural health monitoring systems based on wireless technology is estimated to grow at a higher rate during the forecast period. In wireless technology, the use of wires is eliminated, thereby abolishing the need for installation and protection of cables due to which the cost of the wireless structural health monitoring system is reduced dramatically.

In terms of offerings, the hardware segment is expected to hold the largest market share by 2023 owing to the fact that hardware components are the integral elements of the structural health monitoring system, which measure physical properties of any structure under observation. On the basis of received data from various hardware instruments, decisions are made regarding the corrective actions pertaining to the structure.

In the vertical segment, civil infrastructure is expected to hold the largest market share during the forecast period. Civil infrastructure facilities include numerous critical structures such as bridges, dams, tunnels, highways, and buildings. At present, major countries in different regions such as the US, the UK, Germany, and Japan are heavily investing in building infrastructural facilities, thereby ultimately growing the economy of the country. Thus, the growing civil infrastructure would increase the demand for structural health monitoring systems to maintain and monitor the health of each civil infrastructure and to avoid catastrophic failure of these structures.

Structural Health Monitoring (SHM) Market

The growth of the structural health monitoring market in the Americas is likely to be propelled by the driving factors such as the aging infrastructure, support from various governments in the region, and need for effective solutions for the maintenance of infrastructure facilities. Furthermore, according to the Federal Highway Administration (FHWA) in the US, more than 30% of the structures, such as bridges and tunnels, have exceeded their 50 years of design life. So, to enhance the public safety and improve the structural lifespan, the implementation of the structural health monitoring system is a must. Such factors would further contribute to the growth of the market in the Americas. However, high installation and monitoring costs, inaccurate results due to errors in readings, and slow growth in developing countries are a few major restraining factors for the growth of the structural health monitoring market

A few key players in the structural health monitoring market are COWI (Denmark), Pure Technologies (Canada), Structural Monitoring Systems (Australia), Acellent (US), Geocomp (US), Campbell Scientific (US), Nova Metrix (US), Geokon (US), SIXENSE (France), Digitexx (US), Bridge Diagnostics (US), Sisgeo (Italy), RST Instruments (Canada), AVT Reliability (UK), and Geomotion Singapore (Singapore).

Drivers

Catastrophic failure of the infrastructure results in loss of lives and incurs high costs

Structural health monitoring systems can reduce the costs associated with structure failures in several ways. One of the most evident ways is by reducing the risk of catastrophic failure of structures. Another way by which structural health monitoring systems can reduce the cost is by removing the need for a maintenance and inspection staff. Structural health monitoring (IM) provides insight into the status of critical infrastructure in real‐time, which can help avoid unnecessary repairs due to the uncertainty of the health of the structure.

High capital investments for structural health monitoring across various countries worldwide

Infrastructures contribute majorly to the economic activity, productivity, and well-being of the people. A superior infrastructure can increase the productivity of the public as well as private sectors and is important for the regional development. Most countries in the world are focusing on structural health monitoring through heavy investments. For instance, in December 2016, the US President proposed investment of about USD 1 trillion over a decade on building bridges, roads, ports, hospitals, and schools for the enriched infrastructure in the country. In December 2016, the UK government’s Infrastructure and Project Authority declared new national infrastructure and construction investment plans, setting out more than USD 625 billion of planned public and private sector infrastructure investments.

Opportunities

Regional opportunities in APAC and GCC countries

The rate of adoption of structural health monitoring methodology is increasing day by day in major countries of APAC, such as India and China. The countries of APAC are densely populated, thereby focusing highly on infrastructural developments for their growth and sustainability. Thus, the governments of major countries are now opting for structural health monitoring solutions for new as well as existing infrastructures. Market players from the Americas and Europe are actively meeting the structural health monitoring requirements of various projects in APAC.

Public–private partnerships (P3s or PPPs) for infrastructural growth

Public-private partnerships (PPPs) would be the key to the success of intelligent transportation systems (ITS). According to the report from Moody’s Investors Service, published in September 2014, the US is poised to become the largest public-private partnership (PPP) market in the world in the coming years. An increasing number PPP transactions for transportation projects and the use of PPP models have been steadily increasing over the last 5 years in the transportation sector in this country. In 2013, 3 major PPP agreements were completed between the US and other American countries, namely, USD 370 million with Indiana; USD 1.5 billion for the Goethals Bridge with Port Authorities of New York; and USD 2.3 billion with Florida and New Jersey. Many non-profit organizations, such as ITS Canada, ITS America, ITS Thailand, ITS India, and ITS Germany are coming up with strategic partnerships with different associations that work on roads and transport projects. ITS Canada entered into a partnership with the Indian Association of Roads and Transport for the development of ITS architecture in India. To deploy ITS in European countries, ITS Europe (ERTICO) signed a public–private partnership with different stakeholders such as service providers, telecom operators, and infrastructure providers. Moreover, the ownership of dams in the US is mostly private.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Available Customizations Title

Client Consult Problem Statement :

MnM’s client who is one of the leading manufacturer of Structural Health Monitoring (SHM) sensors was interested in Structural Health Monitoring market for U.S. and Europe region. In order to cater applications segment, case studies of “Application Of Structural Health Monitoring On Bridges” were included in this consulting study. The key objective for the study involved :

  1. In-depth analysis of applications of SHM on infrastructures such as bridges and buildings.
  2. Detailed insights on supply chain, value chain, pricing analysis and competitor analysis
  3. Government policies and agencies impacting the SHM market for U.S. and European region

Solution Provided:
  1. Methodology Adopted by MnM : : MnM carried out a detailed search of the public domain ....
  1. Methodology Adopted by MnM : : MnM carried out a detailed search of the public domain and its own proprietary & non-proprietory database on target SHM market to orient the project, develop the industry structure including, manufacturers/suppliers, distributors, customers, associations, regulatory authorities and allied stakeholders. In order to trace the number of applications of SHM, bridges and buildings which are having SHM system were studied. Exhaustive interviews were conducted from sales, marketing, production, R&D, technical experts using a semi-structured Discussion Guide to understand and provide the in-depth analysis of the market. These interviews were used to draw out information such as major customers, end user industry demand, customers activity, trends, future growth, etc. Similarly among regulatory authorities, associations and others bodies, MnM also obtained detailed information on market sizes, usage trends, future growth prospective for target end user industries along with the major consumer details.
  2. Actual Solution Provided: - Through the detailed outcome of the study, we provided inputs on-
    • Market size of the SHM by infrastructure –bridges and buildings
    • Value chain analysis of the SHM industry with the contribution of each entities in value chain
    • Detailed case studies on applications
    • Developments trends in the SHM industry and the competitors analysis, benchmarking on the basis of technology, applications and various other parameters. Profiles of key industry players with SWOT analysis and recent development's

Value Delivered:

MnM’s client was able to understand the current scenario of the SHM market. Also, the government indicatives and regulations impacting SHM market were provided to give insights on actual market conditions.

The competitive benchmarking also helped to understand the client’s present situation in the market and further helps the client to built short and long term strategies to gain the market share

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