Structural Health Monitoring Market

Structural Health Monitoring Market: By Technology, Offering, Verticals, and Region

Market Synopsis:

The global Structural Health Monitoring market size was valued at USD 2087.91 million in 2022 and is projected to reach USD 6431.52 million by 2030, registering a CAGR of 15.10% from 2023 to 2030. Demand for Structural Health Monitoring is growing rapidly in most engineering disciplines due to advances in microelectronics and nanotechnology. In the civil engineering arena, there are a number of sources driving growth in the industry including aging infrastructure, increasing traffic congestion and loads from new sophisticated transport networks such as high-speed railways, testing of innovative designs at full scale, the advent of big data and needs for real-time assessment of how components will perform under live conditions.

The growing market size has led to increased competition and introduction of advanced SHM systems that promise reduced cost through improved automation while offering enhanced capabilities not previously available using classical approaches.

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Market Segmentation:

The global Structural Health Monitoring market is segmented on the basis of component, end user, connectivity, and region. Based on component, the Structural Health Monitoring market is fragmented into hardware, software, and services. According to end user, the global Structural Health Monitoring market is categorized into civil, aerospace, defense, mining, energy, and others. By connectivity, the market is classified into wired and wireless.

Growing Infrastructure Development to Drive demand for Structural Health Monitoring Systems

Aging infrastructure is a huge problem in most developed and developing nations. This has resulted in growing investments by public and private sectors to improve infrastructure facilities such as bridges, roads, airports etc. In addition to aging of existing facilities, there is also an upsurge in the number of sophisticated transport networks being introduced across the globe. High-speed railways for example are no longer limited to a few countries or regions but rather have become a global phenomenon with new railway lines being planned and constructed on every continent. The race toward high-speed rail transportation is evident from recent announcements between China, Russia and many European countries aimed at linking major cities through high-speed rails. In addition to construction of new facilities, roadways are also expanding due to growing need for transport networks. As a result of these trends, contractors are being pressed to improve construction quality and meet the often-stringent regulations that govern transportation infrastructure development.

Many countries have begun enforcing strict regulations to ensure high quality construction of bridges, dams etc. by introducing clauses in contracts requiring use of SHM systems during construction. From an operator's perspective, it is certainly beneficial to monitor structure health using SHM systems during construction so as to reduce likelihood of failure post completion.

New Approach is Necessary to Remain Competitive Will Support the Growth of the Market

The traditional approach toward monitoring structural health has been based on periodic inspections by engineers who review damage visually under harsh conditions including inclement weather. Engineers also rely heavily on visual inspection during routine operational activities including train crossings over bridges or tunnels where they can observe condition of the structure, any signs of distress and estimate the remaining service life. Unfortunately, such an approach has several limitations including difficulties in detection and assessment of damage at early stages, reduced accuracy due to site access issues, visual fatigue and time constraints among others.

Current SHM technologies not only reduce reliance on visual inspection but also offer increased accuracy through automated monitoring for early-stage damage when it is difficult or impossible to detect using traditional techniques. This in turn reduces operational downtime and offers increased safety levels by eliminating human error related to site inspections and assessments. In addition, machine learning algorithms employed in some SHMs enable integration with wireless bridges facilitating real-time transmission of data online.

Software and Services is the Largest Segment in the Global Structural Health Monitoring Market

Development of software solutions designed specifically for SHM systems is another major factor driving this market. A number of organizations are developing software tools according to specific needs related to their products or services which adds up to the demand for SHM software solutions as well as service offerings. Organization such as Delphi Automotive PLC have been working on creating a central resource for collecting, processing and presenting data from SHM systems. Delphi's software solution is known as Covisint Corp., which helps the company in collecting information from various sources.

In order to make sure that its products meet specific requirements of customers, 3D virtual simulation also forms a major component of product development process. Organizations such as RANS Technology Inc. provide a complete life cycle approach while developing a 3D modeling software for SHM purpose. The software solutions offered by these companies include dynamic characterization and information analysis tools that help in reducing costs associated with upkeep of structures.

North America is the Largest Structural Health Monitoring Market

The major factor that is responsible for the growth of the SHM market in North America is rise in awareness about Structural Health Monitoring. Those who are involved in critical structures such as bridges, roads, and power plants care more for their safety than anyone else does. When it comes to utility infrastructure, both Federal Emergency Management Agency (FEMA) and American Society of Civil Engineers (ASCE) have a role to play. ASCE estimates that US needs nearly $3 trillion by 2022 for improvement in its infrastructure facilities. According to FEMA, 2 percent of all public bridges are structurally deficient. In order to ensure better efficiency and risk management lower rate of failure due to wear and tear can be achieved through SHM tools.

Competitive Landscape:

A growing number of service providers have entered this market offering SHM systems that are easy to deploy, fast to install and simple to operate. This has resulted in an increasing number of installations across the globe by owners or operators of critical infrastructure facilities. Over the next few years, growing investments in transportation infrastructures will result in further adoption of SHM technologies by owners/ different SHM solutions.

Some of the key vendors in the global Structural Health Monitoring Market are Pure Technologies, Structural Monitoring Systems (Australia), Geocomp Corporation (US), Nova Metrix (US), Campbell Scientific (US), Geokon, Incorporated (US), Digitexx Data Systems (US), SIXENSE Systems (France), Bridge Diagnostics (US), RST Instruments (Canada), Sisgeo (Italy), and Geomotion Singapore (Singapore).

The Structural Health Monitoring is Segmented as Follows: