Structural Health Monitoring Market

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

Report Code: SE 3865 Jul, 2018, by marketsandmarkets.com
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The structural health monitoring market size (also referred to as infrastructure monitoring market) to grow from USD 1.5 billion in 2018 to USD 3.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.9% during the forecast period. Monitoring of structural health is very critical as the catastrophic failure of the infrastructure can results in loss of lives and also incurs high costs. This is one of the major factors driving the growth of the structural health monitoring market. Stringent government regulations pertaining to the sustainability of structures, and aging infrastructures and the superior benefits of structural health monitoring are other key factors driving the growth of structural health monitoring market. The objective of the report is to define, describe, and forecast the structural health monitoring market size based on technology, offering, vertical, and region.    

Structural Health Monitoring (SHM) Market

By technology, wireless structural health monitoring segment is expected to grow at highest CAGR during forecast period

The market for wireless structural health monitoring is expected to witness highest growth during the forecast period. In wireless technology, the use of wires is eliminated, thereby abolishing the need for installation and protection of cables. Therefore, the cost of the wireless structural health monitoring system is reduced dramatically. Also, the wireless system is flexible in nature. In other words, sensors equipped with wireless communication can be organized into an autonomous network, which makes updating, adding, moving, and replacing of sensors easy after the initial installation.

By vertical, civil infrastructure segment to account for largest market share during forecast period

In this report, the structural health monitoring market by vertical, has been segmented into civil infrastructure, aerospace & defense, energy, mining, and others. Among these verticals, civil infrastructure segment is expected to hold a largest share of the market throughout the forecast period. Civil infrastructure facilities include numerous critical structures, such as bridges, dams, tunnels, highways, and buildings. All these structures are directly related to the overall demographic and economic growth of any country. Therefore, many governments are taking initiatives to monitor the overall health of the structure. Also, at present, major countries in different regions such as the US, the UK, Germany, Japan, China, India, Qatar, and Saudi Arabia are heavily investing in building new infrastructural facilities, thereby ultimately growing their economy of the country. For such increasing infrastructure facilities, there would be growing opportunities for the structural health monitoring market players.

The main purpose of the structural health monitoring system is to support regular visual examinations or inspections using advanced sensor technologies. These systems find their applications in various markets including damage detection market, crack detection market, impact monitoring market, corrosion monitoring market, strain monitoring market, hotspot monitoring market, and others.

APAC to witness highest growth rate during forecast period

APAC is expected to witness highest CAGR in the structural health monitoring market during the forecast period. China, Japan, and India are some of the major countries driving the growth of the structural health monitoring market in APAC. Americas is expected to account for the largest share of structural health monitoring market during the forecast period. The market in this region is also expected to witness significant growth during the forecast period.

Structural Health Monitoring (SHM) Market

Market Dynamics

Driver:  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. Developing countries are in need of superior infrastructure for better productivity. According to the Asian Development Bank (ADB), emerging economies in the APAC region will require an investment of USD 26 trillion for building everything from clean water to transport network through 2030, to eradicate poverty, offset climate change, and maintain growth. To achieve this, governments in the APAC region are expected to invest heavily in the public sector, often with competing commitments of heavy investments from Japan and China. APAC countries are getting alternatives to funding other than US-based World Bank and the Philippines-based Asian Development Bank. For instance, the China-based Asian Infrastructure Investment Bank has also begun funding projects in the region. This is expected to boost the spending capacity of developing countries through infrastructural projects.

Structural health monitoring is emerging as a prerequisite for a new infrastructure because it ensures the safety of the structure by monitoring its different parameters such as damage detection, crack detection, corrosion monitoring, strain monitoring, and impact monitoring to save the structure from any type of hazard. Moreover, various government bodies and non-profit organizations have started feeling the need for filling the gap between the capital spending and required investments in civil infrastructure projects. This is expected to create a huge demand for structural health monitoring systems, which, in turn, is likely to facilitate data-driven maintenance and reduction of the overall maintenance cost of infrastructure. The impact of this driver is presently high and is expected to remain high during the forecast period considering the fact that investments in the infrastructure sector are poised to grow year over year.

Restraint:  High Installation and Monitoring Cost        

The cost of structural health monitoring rises with range, resolution, accuracy, precision, and repeatability. Though the structural health monitoring systems would be able to save costs in the long term, the costs involved in installation and monitoring are very high, mainly because of the advanced sensors, software, and complex data acquisition systems that are used. The cost involved to build a structural health monitoring solution includes the costs of hardware, software, and services that majorly depend on the complexity of structures and cost of construction. Highly complex structures require highly efficient instrumentation solutions, which increases the overall costs. Additionally, monitoring costs involved in this are very high. Thus, high costs involved in structural health monitoring is restraining the market growth. However, the increasing competition among service providers and decreasing costs of the instrumentation is expected to lower the impact of this restraint during the forecast period.

Opportunity: 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.

The adoption of structural health monitoring is rising at the global level, keeping the US and Europe at the leading position. The US and several European countries such as the UK, Germany, and France are aggressively and systematically deploying structural health monitoring systems for the prevention of any kind of structural or life hazard and monetary losses. APAC countries such as China, Japan, Singapore, and GCC countries such as the UAE, Saudi Arabia, and Qatar create huge opportunities for the structural health monitoring market players in the coming years considering the infrastructural investments by these countries in buildings, utilities, bridges, and tunnels.

Challenge: Requirement of Skilled Labors/Operators for Installation and Calibration of Structural Health Monitoring Instruments

Almost every infrastructure project presents a unique set of critical parameters. The operator or designer must identify those parameters and then select instruments to measure them. For the installation and calibration of structural health monitoring solutions, skilled personnel is required as decisions pertaining to the process of structural health monitoring depends on instrument type, specification, range, resolution, and precision of measurement. Moreover, the information required during the construction and post-construction phases also vary for each type of construction. In some cases, monitoring one parameter is sufficient, but in case of complex cases, to monitor various parameters, the correlation between them is utmost important. This needs to be done by skilled personnel. Thus, the lack of skilled labors in the APAC region, high labor costs in the Americas and Europe are posing a big challenge for the providers of structural health monitoring solutions all over the world.

Structural Health Monitoring (SHM) Market

Scope of the Report

Report Metric

Details

Market size available for years

2015 - 2023

Base year considered

2017

Forecast period

2018 - 2023

Forecast units

Value (USD) and Volume (Thousand Units)

Segments covered

Technology, Offering, Vertical, and Region

Geographies covered

Americas, Europe, APAC, and RoW

Companies covered

Nova Metrix (US), Geokon (US), Campbell Scientific (US), RST Instruments (Canada), Sisgeo (Italy), COWI (Denmark), Geocomp (US), Acellent (US), and SIXENSE (France), among others (total 26 players are covered).

This research report categorizes the structural health monitoring market based on technology, offering, vertical, and region.

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 Geography

  • Americas (North America, and South America)
  • Europe (UK, Germany, France, and Rest of Europe)
  • APAC (China, Japan, South Korea, and Rest of APAC)
  • RoW (Middle East, and Africa)

Key Market Players

Key players in the structural health monitoring market include Nova Metrix (US), Geokon (US), Campbell Scientific (US), Sisgeo (Italy), COWI (Denmark), Geocomp (US), Acellent (US), and SIXENSE (France). Nova Metrix is a well-known company in the structural health monitoring market. The company acquired several companies operating in the structural monitoring market. The current repertoire of subsidiaries of the company includes Durham Geo Slope-Enterprises (DGSI), Roctest, Sensornet, Sherborne Sensors, Soil Instruments, Westbay Instruments, Waterloo Hydrogeologic, and Van Essen Instruments B.V. These companies collaborate to provide services to the clients spanning a variety of structural monitoring applications. The company has participated in various conferences to promote its brand of services. The product portfolio of the company is exhaustive in nature, whereas services vary based on applications.

Recent Developments

  • In November 2017, the Metropolitan Water District of Southern California (US) selected Pure Technologies (Canada) to inspect water pipelines for 5 years. Such contracts would help the company to increase its net revenue.
  • In October 2017, Campbell Scientific (US) 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.
  • In November 2017, COWI (Denmark) acquired Projektbyrεn, a Swedish company expert in project management services. This acquisition is expected to help COWI to grow further using Projektbyrεn’s key competencies in various complex projects.

Critical questions the report answers:

  • Where will all these developments take the industry in the mid to long term?
  • What are the emerging applications of structural health monitoring systems?
  • How are advancements in civil infrastructure, energy, mining, and other verticals influencing the structural health monitoring market?
  • Which technology structural health monitoring systems is expected to penetrate significantly in the structural health monitoring market?

Available Customizations

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

Geographic Analysis:

  • Comprehensive coverage of regulations followed in each region (Americas, Europe, APAC, and RoW)

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5)

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

Table of Content

1 Introduction
    1.1 Study Objectives
    1.2 Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology
    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 From 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 Research Assumptions

3 Executive Summary

4 Premium Insights

5 Market Overview
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
           5.2.2 Restraints
           5.2.3 Opportunities
           5.2.4 Challenges

6 Market Overview
    6.1 Value Chain Analysis
    6.2 Market Evolution
    6.3 Key Trends

7 Structural Health Monitoring Market By Technology
    7.1 Introduction
    7.2 Wired Structural Health Monitoring
    7.3 Wireless Structural Health Monitoring

8 Structural Health Monitoring Market By Offering
    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
    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 Defence
    9.4 Energy (airframes, wind turbines, and others)
    9.5 Mining
    9.6 Others (industrial machinery, automotive, and marine structures such as vessels and platforms)

10 Implementation Methods for Structural Health Monitoring Systems
     10.1 Introduction
     10.2 New Construction
     10.3 Retrofitting

11 Applications of Structural Health Monitoring Systems
     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
     11.11 Deflection Monitoring
     11.12 Leakage Detection

12 Structural Health Monitoring Market, By Region
     12.1 Introduction
     12.2 Americas
             12.2.1 North America
                        12.2.1.1 US
                        12.2.1.2 Rest of North America
                                     12.2.1.2.1 Canada
                                     12.2.1.2.2 Mexico
             12.2.2 South America
                        12.2.2.1 Brazil
                        12.2.2.2 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 Asia Pacific
             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
     13.1 Overview
     13.2 Market Player Ranking Analysis
     13.3 Competitive Leadership Mapping
             13.3.1 Visionary Leaders
             13.3.2 Dynamic Differentiators
             13.3.3 Innovators
             13.3.4 Emerging Companies
     13.4 Competitive Situations and Trends
             13.4.1 Partnerships, Agreements, Collaborations, and Contracts
             13.4.2 Product Launches/Developments
             13.4.3 Mergers & Acquisitions

14 Company Profiles
     14.1 Key Players
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
             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 Key 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 Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Appendix
     15.1 Insights of Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.4 Available Customizations
     15.5 Related Reports
     15.6 Author Details

16 Appendix


List of Tables (104 Tables)

Table 1 Errors and Corrective Measures in Structural Health Monitoring
Table 2 Global Structural Health Monitoring Systems Market, By Technology, 2017–2025 (USD Million)
Table 3 Market for Wired Technology, By Region, 2017–2025 (USD Million)
Table 4 Market for Wired Technology in Americas, By Region, 2017–2025 (USD Million)
Table 5 Market for Wired Technology in North America, By Country, 2017–2025 (USD Million)
Table 6 Market for Wired Technology in South America, By Country, 2017–2025 (USD Million)
Table 7 Market for Wired Technology in Europe, By Country, 2017–2025 (USD Million)
Table 8 Market for Wired Technology in APAC, By Country, 2017–2025 (USD Million)
Table 9 Market for Wired Technology in RoW, By Region, 2017–2025 (USD Million)
Table 10 Comparison Between Wired and Wireless Structural Health Monitoring Systems
Table 11 Structural Health Monitoring Market for Wireless Technology, By Region, 2017–2025 (USD Million)
Table 12 Market for Wireless Technology in Americas, By Region, 2017–2025 (USD Million)
Table 13 Market for Wireless Technology in North America, By Country, 2017–2025 (USD Million)
Table 14 Market for Wireless Technology in South America, By Country, 2017–2025 (USD Million)
Table 15 Market for Wireless Technology in Europe, By Country, 2017–2025 (USD Million)
Table 16 Market for Wireless Technology in APAC, By Country, 2017–2025 (USD Million)
Table 17 Market for Wireless Technology in RoW, By Region, 2017–2025 (USD Million)
Table 18 Market, By Offering, 2017–2025 (USD Million)
Table 19 Market, By Hardware, 2017–2025 (USD Million)
Table 20 Market for Hardware, By Region, 2017–2025 (USD Million)
Table 21 Market for Hardware in Americas, By Region, 2017–2025 (USD Million)
Table 22 Market for Hardware in North America, By Country, 2017–2025 (USD Million)
Table 23 Market for Hardware in South America, By Country, 2017–2025 (USD Million)
Table 24 Market for Hardware in Europe, By Country, 2017–2025 (USD Million)
Table 25 Market for Hardware in APAC, By Country, 2017–2025 (USD Million)
Table 26 Market for Hardware in RoW, By Region, 2017–2025 (USD Million)
Table 27 Market for Sensors, By Type, 2017–2025 (USD Million)
Table 28 Market for Sensors, By Type, 2017–2025 (Thousand Units)
Table 29 Market for Sensors, By Region, 2017–2025 (USD Million)
Table 30 Market for Data Acquisition and Communication Systems, By Region, 2017–2025 (USD Million)
Table 31 Market for Other Hardware Components, By Region, 2017–2025 (USD Million)
Table 32 Market for Software & Services, By Region, 2017–2025 (USD Million)
Table 33 Market for Software & Services in Americas, By Region, 2017–2025 (USD Million)
Table 34 Market for Software & Services in North America, By Country, 2017–2025 (USD Million)
Table 35 Market for Software & Services in South America, By Country, 2017–2025 (USD Million)
Table 36 Market for Software & Services in Europe, By Country, 2017–2025 (USD Million)
Table 37 Market for Software & Services in APAC, By Country, 2017–2025 (USD Million)
Table 38 Market for Software & Services in RoW, By Region, 2017–2025 (USD Million)
Table 39 Structural Health Monitoring Market, By Vertical, 2017–2025 (USD Million)
Table 40 Market for Civil Infrastructure, By Region, 2017–2025 (USD Million)
Table 41 Market for Aerospace & Defense Vertical, By Region, 2017–2025 (USD Million)
Table 42 Market for Energy Vertical, By Region, 2017–2025 (USD Million)
Table 43 Market for Mining Vertical, By Region, 2017–2025 (USD Million)
Table 44 Market for Other Verticals, By Region, 2017–2025 (USD Million)
Table 45 Nondestructive Testing and Structural Health Monitoring
Table 46 Global Market, By Region, 2017–2025 (USD Million)
Table 47 Market in Americas, By Technology, 2017–2025 (USD Million)
Table 48 Market in Americas, By Offering, 2017–2025 (USD Million)
Table 49 Market in Americas, By Hardware, 2017–2025 (USD Million)
Table 50 Market in Americas, By Vertical, 2017–2025 (USD Million)
Table 51 Market in Americas, By Region, 2017–2025 (USD Million)
Table 52 Market in North America, By Hardware, 2017–2025 (USD Million)
Table 53 Market in North America, By Technology, 2017–2025 (USD Million)
Table 54 Market in North America, By Country, 2017–2025 (USD Million)
Table 55 Market in US, By Technology, 2017–2025 (USD Million)
Table 56 Market in US, By Offering, 2017–2025 (USD Million)
Table 57 Market in South America, By Hardware, 2017–2025 (USD Million)
Table 58 Market in South America, By Technology, 2017–2025 (USD Million)
Table 59 Market in South America, By Country, 2017–2025 (USD Million)
Table 60 Market in Brazil, By Technology, 2017–2025 (USD Million)
Table 61 Market in Brazil, By Offering, 2017–2025 (USD Million)
Table 62 Market in Rest of South America, By Technology, 2017–2025 (USD Million)
Table 63 Market in Rest of South America, By Offering, 2017–2025 (USD Million)
Table 64 Major Structural Monitoring Projects in Americas
Table 65 Market in Europe, By Technology, 2017–2025 (USD Million)
Table 66 Market in Europe, By Offering, 2017–2025 (USD Million)
Table 67 Market in Europe, By Hardware, 2017–2025 (USD Million)
Table 68 Market in Europe, By Vertical, 2017–2025 (USD Million)
Table 69 Market in Europe, By Country, 2017–2025 (USD Million)
Table 70 Market in UK, By Technology, 2017–2025 (USD Million)
Table 71 Market in UK, By Offering, 2017–2025 (USD Million)
Table 72 Market in Germany, By Technology, 2017–2025 (USD Million)
Table 73 Market in Germany, By Offering, 2017–2025 (USD Million)
Table 74 Market in France, By Technology, 2017–2025 (USD Million)
Table 75 Market in France, By Offering, 2017–2025 (USD Million)
Table 76 Market in Rest of Europe, By Technology, 2017–2025 (USD Million)
Table 77 Market in Rest of Europe, By Offering, 2017–2025 (USD Million)
Table 78 Major Structural Monitoring Projects in Europe
Table 79 Market in APAC, By Technology, 2017–2025 (USD Million)
Table 80 Market APAC, By Offering, 2017–2025 (USD Million)
Table 81 Market in APAC, By Hardware, 2017–2025 (USD Million)
Table 82 Market in APAC, By Vertical, 2017–2025 (USD Million)
Table 83 Market in APAC, By Country, 2017–2025 (USD Million)
Table 84 Market in China, By Technology, 2017–2025 (USD Million)
Table 85 Market in China, By Offering, 2017–2025 (USD Million)
Table 86 Market in Japan, By Technology, 2017–2025 (USD Million)
Table 87 Market in Japan, By Offering, 2017–2025 (USD Million)
Table 88 Market in South Korea, By Technology, 2017–2025 (USD Million)
Table 89 Market in South Korea, By Offering, 2017–2025 (USD Million)
Table 90 Market in Rest of APAC, By Technology, 2017–2025 (USD Million)
Table 91 Market in Rest of APAC, By Offering, 2017–2025 (USD Million)
Table 92 Major Structural Monitoring Projects in APAC
Table 93 Market in RoW, By Technology, 2017–2025 (USD Million)
Table 94 Market in RoW, By Offering, 2017–2025 (USD Million)
Table 95 Market in RoW, By Hardware, 2017–2025 (USD Million)
Table 96 Market in RoW, By Vertical, 2017–2025 (USD Million)
Table 97 Market in RoW, By Region, 2017–2025 (USD Million)
Table 98 Market in Middle East, By Technology, 2017–2025 (USD Million)
Table 99 Market in Middle East, By Offering, 2017–2025 (USD Million)
Table 100 Market in Africa, By Technology, 2017–2025 (USD Million)
Table 101 Market in Africa, By Offering, 2017–2025 (USD Million)
Table 102 Major Structural Monitoring Projects in RoW
Table 103 Ranking Analysis Based on Hardware Offerings in the Market, 2019
Table 104 Ranking Analysis Based on Software and Service Offerings in the Market, 2019


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 Market Share, By Offering, 2017 vs 2023
Figure 7 Aerospace & Defense Vertical to Exhibit the Highest CAGR in the Market During the Forecast Period
Figure 8 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 Market Growth Between 2018 and 2023
Figure 10 Sensors Expected to Hold the Largest Share of the Overall Market for Hardware By 2023
Figure 11 Civil Infrastructure Held the Largest Share of the Market in APAC in 2017
Figure 12 US Held the Largest Market Share of the Global 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 Market, By Offering
Figure 24 Market for Software & Services Estimated to Grow at A Higher Rate Between 2018 and 2023
Figure 25 Market, By Hardware
Figure 26 APAC to Exhibit the Highest CAGR in the Market for Sensors During the Forecast Period
Figure 27 APAC to Exhibit the Highest Growth in the Market for Software & Services During the Forecast Period
Figure 28 Market, By Vertical
Figure 29 Civil Infrastructure Estimated to Hold the Largest Size of the Market During 2018–2023
Figure 30 Market, By Civil Infrastructure
Figure 31 Americas to Hold the Largest Market Size in the Market for Aerospace & Defense Vertical During 2018–2023
Figure 32 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 Market in China Expected to Grow at the Highest CAGR During the Forecast Period
Figure 37 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 Market for Hardware Offerings
Figure 43 Key Developments in the 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 Health Monitoring Market: Company Snapshot

This research study involves the extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg Business, Factiva, and OneSource) to identify and collect information useful for this technical, market-oriented, and commercial study. In-depth interviews have been conducted with various primary respondents including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information and assess prospects.

Secondary Research

The secondary sources referred to for this research study include government sources, publications, magazines, journals, corporate filings (such as annual reports, investor presentations, and financial statements), and trade, business, and professional associations, among others. The secondary data has been collected and analyzed to arrive at the overall market size, which has been further validated through the primary research.

Primary Research

Extensive primary research has been conducted after acquiring knowledge about the structural health monitoring market scenario through secondary research. Several primary interviews have been conducted with experts from both demand side (various end-user verticals) and supply side (structural health monitoring system manufacturers, connectivity and service providers) across 4 major geographic regions, namely, the Americas, Europe, APAC, and RoW. Approximately 60% and 40% primary interviews have been conducted from demand and supply sides, respectively. This primary data has been collected through questionnaires, emails, and telephonic interviews.

Structural Health Monitoring (SHM) Market

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

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global market and other dependent submarkets in the overall structural health monitoring market. The key players in the market have been identified through secondary research, and their market positioning in the respective regions have been determined through primary and secondary research. This entire procedure included the study of annual and financial reports of top players and extensive interviews with industry leaders such as CEOs, VPs, directors, and marketing executives for key insights. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. Moreover, all possible parameters that can affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets.

Data Triangulation

After arriving at the overall market size from the market size estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, the market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both demand and supply sides. Along with this, the market has been validated using both top-down and bottom-up approaches.

The objectives of the study are as follows:

  • To describe and forecast the structural health monitoring market, in terms of technology, offering and vertical
  • To describe and forecast the structural health monitoring market, in terms of value, by region—Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze micromarkets with regards to individual growth trends, prospects, and contributions to the total market
  • To study the complete value chain of structural health monitoring
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
  • To analyze strategic approaches such as product launches, acquisitions, contracts, agreements, and partnerships in the structural health monitoring market.
Report Code
SE 3865
Published ON
Jul, 2018
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