Structural Health Monitoring Market - Forecast(2020 - 2025)

Structural health monitoring refers to a tool that enables engineers to improve the safety and maintainability of crucial structure. The fundamental function performed by SHM includes monitoring and testing the health and performance of structures such as bridges, dams, buildings, and many other complex structures. Moreover, it is used for precision stress monitoring on bone implants in medical sector and also implements damage identification strategy for various structures which assists to avoid any future damage.

Structural Health Monitoring market has been segmented by technology, solution, applications, and end user industry. Based on the technology the market is segmented into wired, and wireless structural health monitoring systems. On the basis of solution, the market is classified into hardware, software, and solutions. By applications the market is fragmented into structure monitoring, hurricane & earthquake monitoring, traffic monitoring, pressure monitoring, leakage detection, and others. In terms of end user industry, the market is classified into civil infrastructure, aerospace, defense, power utilities, and others. 

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Growing infrastructural development across the globe owing government initiatives for public safety propels the growth of market during the forecast period. Additionally, increasing investments in infrastructure and advances in wireless sensor networks are creating a huge opportunity for structural health monitoring systems. However, high installation charges and challenges affecting to data normalization constraint the structural health monitoring market growth.

The overall market is also presented from the perspective of different geographic regions and the key countries in each region. North America is the dominating market which held a major revenue share in 2017 and is estimated as fastest growing market during the forecast period, mainly driven by rising demand for technological developments across the civilian infrastructure.

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Sample Companies Profiled in this Report are: 

• SIXENSE Systems
  
• COWI A/S
  
• Digitexx Data Systems, Inc.
  
• Geocomp Corporation
  
• Geokon, Inc.
  
• 10+
  

The methodology for estimating the structural health monitoring market involved demand in the various industries. The segmentations have been cross-mapped extensively to understand various market dynamics. Simultaneously, the companies involved at integration and distribution level were also studied from the perspective of their services, geographical presence, annual turnover and few other parameters to substantiate the estimations. All these estimations were further validated through primary research and industry experts.

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