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Structural Health Monitoring (SHM) Systems Market Expected to Experience Attractive Growth through 2026

According to a research report by Stratview Research, the is mainly driven by the automation and standardization in maintenance & repair of civil infrastructure in the post-COVID-10 period, and rising capital investments in structural health monitoring across various countries in the world. In addition to this, stringent government regulations regarding the sustainability of structures, loss of capital and lives due to catastrophic failure of building infrastructure in the past years, and declining cost of SHM systems, further augment the market growth.
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Segments' Analysis
Stratview Research has segmented the Structural Health Monitoring (SHM) Systems Market by Solution (Hardware [Sensors, Data Acquisition Systems, Others], Software & Services), By Application (Bridges & Dams, Buildings & Stadiums, Vessels & Platforms, Airframes & Wind Turbines, Large Machines & Equipment), By Technology (Wired, Wireless) and Region
On the basis of solution, the global Structural Health Monitoring (SHM) systems market has been bifurcated into hardware and software & services. Among these, the hardware segment accounted for the highest market share in 2020 and is likely to register a steady CAGR during the review period. This is mainly attributed to the significant cost of integral elements of SHM systems such as sensors and data acquisition systems.
By region, the North American market witnessed the highest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to rapidly aging infrastructures such as dams, buildings, bridges, and tunnels in the region which is stirring up the demand for structural health monitoring systems. Thus, to improve structural lifespan and enhance public safety, the installation of these systems is needed, which further boosts regional growth.
The following are the key players in the Structural Health Monitoring (SHM) Systems Market -
· Acellent Technologies (The U.S),
· Campbell Scientific, Inc. (The U.S),
· COWI A/S (Denmark),
· Digitexx (Vietnam), Geocomp Corporation (The U.S),
· Geokon, Incorporated (The U.S);
· GeoSIG Ltd. (Switzerland),
· HBM (Germany),
· James Fisher and Sons plc (UK), and
· Kinemetrics (The U.S).
To develop better customer understanding, the team at Stratview Research employ a range of quantitative and qualitative market research approaches. This report aims to help the users make use of the available data in a way, that profits the business and leads to growth.
Stratview Research is interested in learning what additional information, if included, would be beneficial to the users’ business. We also customise reports based on your preferred countries/regions, segmentations, companies, and so on. You can share any specific requirements related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
About Us:
Stratview Research is a global market research firm that delivers precise data and ground-breaking business study, helping organizations of all sizes make suitable decisions. We gather information for our clients, assisting them to address various challenges, and trends related to their market.
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