The size of the structural health monitoring market, the share of which will reach USD 5,060.9 million by 2028; SGTR 14.5% | The Insight Partners – World News Report

“Global Analysis of the Structural Medical Monitoring Market to 2028” is a specialized and in-depth study of the market.

NEW YORK, USA, January 20, 2023 / — Structural health monitoring market expected to reach $5,060.9 million by 2028; enrollment with a CAGR of 14.5% during 2022-2028, according to new research by The Insight Partners.

Structural health monitoring (SHM) is the process of monitoring a system using periodically measured response measurements from a number of sensors. Data collection, operational evaluation, normalization and cleaning; feature extraction; Data compression; and statistical model development are among the various processes involved in structural state monitoring. Sensors, data transmission and storage systems, data management systems, data acquisition systems, and data interpretation and diagnostic systems are key components of structural condition monitoring systems. These systems are also designed to detect damage to buildings, bridges and other engineering structures. The population densities of some Asian countries, such as India and China, have paved the way for rapid urbanization, leading to an increased focus on growth and infrastructure development. Over the past few years, a large number of companies have begun offering structural condition monitoring solutions for various projects around the world.

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A large number of construction companies, maritime and aviation departments, and government agencies/associations are promoting the implementation of solutions/devices for monitoring the condition of structures to reduce the costs associated with infrastructure repairs. Moreover, the economic growth of developing countries in Southeast Asia, the Middle East and Africa, the introduction of advanced technologies, and the greater adoption of organic and inorganic growth strategies by market participants are driving the growth of the structural health monitoring market. For example, in November 2020, the French company Sixense entered into a partnership agreement with Topcon Positioning Systems (USA) to expand its presence in Africa. Through this partnership, Sixense aims to meet the demands of digital transformation in infrastructure, mining, construction and agriculture in Africa.

List of the best companies
• Acellent Technologies, Inc.
• Campbell Scientific, Inc.
• Digitex
• Geocomp Corporation
• James Fisher & Sons plc
• Kinemetrics, Inc.
• Nova Metrix LLC (Nova Ventures Group Corp.)
• Resensis, OOO
• SIXENSE systems

North America led the structural health monitoring market in 2021. The presence of a large number of market participants in the region is one of the main factors driving the growth of the market in this region. These solutions are being actively implemented in the USA and various European countries such as Germany, Great Britain and France. However, Asia-Pacific countries such as China, India, Japan, and Singapore, as well as Gulf Council of Corporations (GCC) countries such as Saudi Arabia, UAE, and Qatar, have huge growth potential for the structural condition monitoring market. . This is due to increased infrastructure investment in bridges, utilities, buildings and tunnels in these countries. Various development programs have been launched in these regions for the construction of bridges, tunnels, etc. For example, the Abu Dhabi Tunnel Improvement Strategic Program aims to improve wastewater systems. In addition, various government initiatives for the development of smart cities, especially in India and Africa, are expected to provide lucrative growth opportunities for participants in the structural health monitoring market. For example, Smart Cities India Expo 2022 aims to combine technology with clean energy infrastructure, green buildings, water distribution systems, urban mobility and smart ICT, which are the most important pillars of urban development, to properly optimize resources to make cities resilient and smarter. The deployment of a structural health monitoring system will play an important role in the development of smart cities and the monitoring of structures such as roads, tunnels and buildings.

The structural condition monitoring market is segmented based on components, connectivity, and end users. Depending on the components, the market is divided into hardware, software and services. Depending on connectivity, the structural health monitoring market is divided into wired structural health monitoring and wireless structural health monitoring. In addition, the market, depending on the end user, is divided into oil and gas, civil infrastructure, aerospace and defense, energy, mining and others.

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Accelent Technologies, Inc.; Campbell Scientific, Inc.; Digitex; Geocomp Corporation; GBM; James Fisher & Sons LLC; kinemetry; Nova Ventures; Resensis, LLC; and SIXENSE Systems are key players in the structural condition monitoring market. In addition to these, several other large companies including Xylem Inc.; SGS SA; Structural Monitoring Systems plc; and Pure Technologies were studied and analyzed in this study to provide a holistic view of the market. Market participants are mainly focused on launching innovative monitoring solutions that help harvest energy from various renewable energy sources such as solar and wind; and reducing the amount of energy used by structural condition monitoring systems. For example, in March 2015, Sorin Group partnered with various research institutes and universities to develop autonomous wireless energy harvesting sensor modules, mainly for applications in maritime and aviation infrastructure projects. Similarly, in April 2020, Campbell Scientific launched the GRANITE series, a data acquisition system for structural health monitoring (DAS). These structural condition measurement modules increase system flexibility and allow expansion of channels.

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