Structural Health Monitoring Market Size Is Estimated To Value $4.34 Billion By 2025 | Grand View Research, Inc.

December 05 03:32 2020
Structural Health Monitoring Market Size Is Estimated To Value $4.34 Billion By 2025 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global structural health monitoring market size is estimated to reach USD 4.34 billion by 2025. 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.

The global structural health monitoring market size is estimated to reach USD 4.34 billion by 2025, according to a study conducted by Grand View Research, Inc., rising at a CAGR of 17.3% during the forecast period. 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.

U.S. structural health monitoring market size, by application, 2015 - 2025 (USD Million)

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Further key findings from the study suggest:

  • 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 2025. 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.

Global structural health monitoring market share, by application, 2017 (%)

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Grand View Research has segmented the global structural health monitoring market based on solution, application, technology, and region:

Structural Health Monitoring Solution Type (Revenue, USD Million, 2015 – 2025)

  • Hardware
    • Sensors
    • Data Acquisition Systems
    • Others
  • Software & Services


Structural Health Monitoring Application Type (Revenue, USD Million, 2015 – 2025)

  • Bridges & Dams
  • Building & Stadiums
  • Vessels & Platforms
  • Airframes & Wind Turbines
  • Large Machines & Equipment


Structural Health Monitoring Technology Type (Revenue, USD Million, 2015 – 2025)

  • Wired
  • Wireless


Structural Health Monitoring Regional Outlook (Revenue, USD Million, 2015 – 2025)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • South America
    • Brazil
  • Middle East & Africa


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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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