Summary

Structural Health Monitoring Market Growth & Trends

The global structural health monitoring market size is estimated to reach USD 10.48 billion by 2030, according to a study conducted by Grand View Research, Inc., rising at a CAGR of 18.8% from 2023 to 2030. Growing investments in infrastructural development and government regulations mandating implementation of sensors and data acquisition systems to monitor structure health are expected to augment the market. Increasing age of existing bridges and dams and rising focus on infrastructural advancements including construction of new bridges, dams, buildings, and stadiums are also providing a push to the market.

Superior infrastructure is essential for regional development and it helps to increase productivity of the private as well as public sectors. Therefore, rapid infrastructural development across the globe is one of the primary growth stimulants for the market. These systems help in reducing cost by removing need for inspection staff and maintenance. Additionally, with ongoing advancements in technology, these systems are being used in applications such as diagnosing vessels and platforms in marine industries, aircraft frames in aerospace and defense, and inspection of large machines.

North America is projected to dominate the market throughout the forecast horizon owing to surging demand from applications such as bridges & dams and buildings & stadiums. However, Asia Pacific is poised to post the highest CAGR of 18.9% during the same period. This is owing to increasing investments in the civil infrastructure sector, along with industries such as aerospace, defense, marine, and manufacturing. Moreover, in 2014, the Chinese government laid down new regulations mandating use of SHM systems while building new architectural structures and bridges. They have restricted replacement time period for an embedded sensor to 20 years and three to five years for a sensor placed on the surface of the bridge. Furthermore, expanding production of oil sands and shale gas in regions such as Africa and Asia are anticipated to stir up the demand for structural health monitoring systems.

Structural Health Monitoring Market Report Highlights

• The hardware segment is likely to dominate the structural health monitoring market throughout the forecast period owing to higher cost of sensors and data acquisition systems as compared to that of software and services

• In terms of application, the market for structural health monitoring is dominated by bridges & dams and the trend is estimated to continue until 2030. This is due to increasing investments in order to check for health of structures, thus ensuring public safety

• Prominent industry participants include National Instruments Corporation; Structural Monitoring Systems; Digitexx Data Systems, Inc.; and Pure Technologies.

• North America dominated the global structural health market, accounting for the highest revenue share of 35.1% in 2022.

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Solution
1.1.2. Technology
1.1.3. Application
1.1.4. Regional scope
1.1.5. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Solution outlook
2.2.2. Technology outlook
2.2.3. Application outlook
2.2.4. Regional outlook
2.3. Competitive Insights
Chapter 3. Structural Health Monitoring Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.3.3. Market opportunity analysis
3.4. Structural Health Monitoring Market Analysis Tools
3.4.1. Industry analysis - Porter’s
3.4.1.1. Supplier power
3.4.1.2. Buyer power
3.4.1.3. Substitution threat
3.4.1.4. Threat of new entrant
3.4.1.5. Competitive rivalry
3.4.2. PESTEL analysis
3.4.2.1. Political landscape
3.4.2.2. Technological landscape
3.4.2.3. Economic landscape
Chapter 4. Structural Health Monitoring Market: Solution Estimates & Trend Analysis
4.1. Structural Health Monitoring Market: Key Takeaways
4.2. Structural Health Monitoring Market: Movement & Market Share Analysis, 2022 & 2030
4.3. Hardware
4.3.1. Hardware market estimates and forecasts, 2017 to 2030 (USD Million)
4.3.1.1. Sensors market estimates and forecasts, 2017 to 2030 (USD Million)
4.3.1.2. Data Acquisition Systems market estimates and forecasts, 2017 to 2030 (USD Million)
4.3.1.3. Others market estimates and forecasts, 2017 to 2030 (USD Million)
4.4. Software & Services
4.4.1. Software & Services market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 5. Structural Health Monitoring Market: Technology Estimates & Trend Analysis
5.1. Structural Health Monitoring Market: Key Takeaways
5.2. Structural Health Monitoring Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Wired SHM
5.3.1. Wired SHM market estimates and forecasts, 2017 to 2030 (USD Million)
5.4. Wireless SHM
5.4.1. Wireless SHM market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 6. Structural Health Monitoring Market: Application Estimates & Trend Analysis
6.1. Structural Health Monitoring Market: Key Takeaways
6.2. Structural Health Monitoring Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Bridges & Dams
6.3.1. Bridges & dams market estimates and forecasts, 2017 to 2030 (USD Million)
6.4. Buildings & Stadiums
6.4.1. Buildings & stadiums market estimates and forecasts, 2017 to 2030 (USD Million)
6.5. Vessels & Platforms
6.5.1. Vessels & platforms market estimates and forecasts, 2017 to 2030 (USD Million)
6.6. Airframes & Wind Turbines
6.6.1. Airframes & wind turbines market estimates and forecasts, 2017 to 2030 (USD Million)
6.7. Large Machines & Equipments
6.7.1. Large machines & Equipments market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 7. Structural Health Monitoring Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Structural Health Monitoring Market by Region: Key Takeaway
7.3. North America
7.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.3.2. U.S.
7.3.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.3.3. Canada
7.3.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.4. Europe
7.4.1. UK
7.4.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.4.2. Germany
7.4.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.4.3. France
7.4.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.5. Asia Pacific
7.5.1. Japan
7.5.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.5.2. China
7.5.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.5.3. India
7.5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.5.4. Australia
7.5.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.5.5. South Korea
7.5.5.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.6. Latin America
7.6.1. Brazil
7.6.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.6.2. Mexico
7.6.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.7. MEA
7.7.1. Saudi Arabia
7.7.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.7.2. South Africa
7.7.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.7.3. United Arab Emirates (UAE)
7.7.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
8.2.1. Acellent Technologies Inc.
8.2.1.1. Company overview
8.2.1.2. Financial performance
8.2.1.3. Solution benchmarking
8.2.1.4. Strategic initiatives
8.2.2. Campbell Scientific, Inc.
8.2.2.1. Company overview
8.2.2.2. Financial performance
8.2.2.3. Solution benchmarking
8.2.2.4. Strategic initiatives
8.2.3. COWI A/S
8.2.3.1. Company overview
8.2.3.2. Financial performance
8.2.3.3. Solution benchmarking
8.2.3.4. Strategic initiatives
8.2.4. DIGI-TEXX
8.2.4.1. Company overview
8.2.4.2. Financial performance
8.2.4.3. Solution benchmarking
8.2.4.4. Strategic initiatives
8.2.5. Geocomp, Inc.
8.2.5.1. Company overview
8.2.5.2. Financial performance
8.2.5.3. Solution benchmarking
8.2.5.4. Strategic initiatives
8.2.6. GEOKON
8.2.6.1. Company overview
8.2.6.2. Financial performance
8.2.6.3. Solution benchmarking
8.2.6.4. Strategic initiatives
8.2.7. GeoSIG Ltd
8.2.7.1. Company overview
8.2.7.2. Financial performance
8.2.7.3. Solution benchmarking
8.2.7.4. Strategic initiatives
8.2.8. HBK
8.2.8.1. Company overview
8.2.8.2. Financial performance
8.2.8.3. Solution benchmarking
8.2.8.4. Strategic initiatives
8.2.9. James Fisher and Sons plc.
8.2.9.1. Company overview
8.2.9.2. Financial performance
8.2.9.3. Solution benchmarking
8.2.9.4. Strategic initiatives
8.2.10. Kinemetrics
8.2.10.1. Company overview
8.2.10.2. Financial performance
8.2.10.3. Solution benchmarking
8.2.10.4. Strategic initiatives
8.2.11. NATIONAL INSTRUMENTS CORP.
8.2.11.1. Company overview
8.2.11.2. Financial performance
8.2.11.3. Solution benchmarking
8.2.11.4. Strategic initiatives
8.2.12. Nova Ventures Group
8.2.12.1. Company overview
8.2.12.2. Financial performance
8.2.12.3. Solution benchmarking
8.2.12.4. Strategic initiatives
8.2.13. Sixense
8.2.13.1. Company overview
8.2.13.2. Financial performance
8.2.13.3. Solution benchmarking
8.2.13.4. Strategic initiatives
8.2.14. STRUCTURAL MONITORING SYSTEMS PLC
8.2.14.1. Company overview
8.2.14.2. Financial performance
8.2.14.3. Solution benchmarking
8.2.14.4. Strategic initiatives
8.2.15. Xylem
8.2.15.1. Company overview
8.2.15.2. Financial performance
8.2.15.3. Solution benchmarking
8.2.15.4. Strategic initiatives