Structural Health Monitoring Market By Technology (Wired Structural Health Monitoring, & Wireless Structural Health Monitoring), Offering (Sensors, & Hardware), Vertical (Civil Infrastructure, & Bridges), By Geographic Scope & Forecast 2024-2031

Structural Health Monitoring Market Valuation – 2024-2031

The importance of structural health monitoring is driving its expansion, as infrastructure breakdown can result in loss of life and substantial expenses. Furthermore, rigorous rules governing structural sustainability, as well as aging infrastructures, are driving growth in the Structural Health Monitoring Market. The market size surpasses USD 11 Billion valued in 2024 to reach a valuation of around USD 42.18 Billion by 2031.

Infrastructure is extremely important in human life since it contributes to economic activity, productivity, and people’s well-being. Superior infrastructure has the potential to significantly increase the productivity of both the public and commercial sectors, as well as regional development. Many of the world’s major developed countries must and continue to invest in structural health monitoring making it more accessible and cost-effective enabling the market grow at a CAGR of 16.75% from 2024 to 2031.

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Structural Health Monitoring Market: Definition/ Overview

Structural Health Monitoring (SHM) is primarily a system designed to preserve the structure of a specific domain. Structural health monitoring can be defined as observing the damage and devising measures to characterize the structures. Its primary goal is to improve structural safety while lowering maintenance expenses.

The Structural Health Monitoring market includes a diverse range of products and services, including sensor technologies (such as strain gauges, accelerometers, and temperature sensors), data acquisition systems, wireless communication systems, data analysis and visualisation software platforms, and consulting and maintenance services. These services are offered by specialized enterprises, research organisations, engineering firms, and technology providers involved in structural monitoring and assessment.

 Infrastructure is extremely important in human life since it contributes to economic activity, productivity, and people’s well-being. Superior infrastructure has the potential to significantly increase the productivity of both the public and commercial sectors, as well as regional development. Many of the main developed countries must invest in structural health monitoring and are continuing to do so.

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Will Increasing Government Regulations Pertaining to Sustainable Structures Drive the Structural Health Monitoring Market?

In the Structural Health Monitoring (SHM) market, as governments around the world implement more strict environmental and safety requirements, there is a greater emphasis on the long-term viability of infrastructure. Regulations now frequently mandate regular monitoring and maintenance of structures to ensure their safety, efficiency, and compliance with environmental standards. This push for sustainability involves the deployment of modern SHM systems to constantly monitor the health of buildings, bridges, dams, and other vital infrastructure, which increases demand for SHM technologies.

These rules typically come with incentives for adopting SHM systems, such as subsidies, tax rebates, and money for research and development in novel monitoring technology. Such incentives not only encourage the adoption of SHM solutions but also fuel technological breakthroughs and industry expansion. As a result, businesses and governments are investing more in SHM systems to comply with laws, increase safety, lower maintenance costs, and improve the overall sustainability of structures, boosting the global SHM market.

Will Lack of accuracy and Reliability Hampering the Growth of the Structural Health Monitoring Market?

In the structural health monitoring (SHM) market, accurate and trustworthy data are crucial for infrastructure monitoring and maintenance. If SHM systems fail to deliver precise and consistent information, their utility and reliability are undermined, potentially leading to safety hazards and increased costs as a result of wrong evaluations and interventions. This lack of confidence in SHM technologies might discourage adoption, as stakeholders may be hesitant to invest in systems that do not produce consistent outcomes, limiting market expansion.

Furthermore, errors and reliability difficulties can result in more false alarms or missed detections of structural problems, which can be costly and hazardous. False alarms may result in unnecessary inspections and repairs, whereas missed detections may result in catastrophic structural failures. These challenges stress the necessity for continuing developments in sensor technology, data analysis algorithms, and overall system integration to better the precision and dependability of SHM systems. Without addressing these concerns, the SHM market may struggle to attain its full potential as stakeholders prioritize accuracy and reliability in their infrastructure monitoring solutions.

Category-Wise Acumens

How Will the Wired Segment Drive the Growth of the Structural Health Monitoring Market?

While wireless technology is gaining traction, wired systems currently dominate the structural health monitoring market. This is largely due to their reliable data transfer capabilities, offering consistent, high-bandwidth connections essential for uninterrupted data flow, especially critical for infrastructures like bridges and dams where real-time data is crucial for safety.

Additionally, wired systems benefit from accessibility advantages, as they are not affected by obstacles such as walls or distance, ensuring consistent data collection throughout the structure. Their proven track record also plays a significant role; having been in use longer, many existing structures already utilize wired systems, making them a familiar and reliable choice. Moreover, cost considerations often favor wired systems, as their installation can be less expensive compared to wireless systems that require additional components like batteries and repeaters.

Overall, wired technology’s dominance in structural health monitoring is attributed to its exceptional reliability, proven track record, and cost-effectiveness. Their long-standing presence in the market means many existing structures already utilize wired systems, making them a familiar and trusted choice.

How Will the Civil Infrastructure Propelling the Structural Health Monitoring Market?

The aging condition of civil infrastructure worldwide is a significant driving force behind the growth of the Structural Health Monitoring (SHM) system market. As bridges, dams, buildings, and other structures age, they become more vulnerable to various forms of deterioration, including cracks and corrosion. SHM systems play a crucial role in continuously monitoring these structures for signs of damage, enabling early detection and intervention to prevent potential disasters. By facilitating preventive maintenance and repairs before problems escalate, SHM systems enhance public safety and mitigate the risk of catastrophic failures, thereby addressing a critical need in infrastructure management.

Moreover, the adoption of SHM systems offers numerous benefits beyond safety concerns. Traditional inspection methods often involve costly and disruptive procedures, such as visual inspections or structural shutdowns for testing. In contrast, SHM systems automate the monitoring process, allowing for frequent assessments without disrupting normal operations. This increased efficiency leads to significant cost savings over time and minimizes the inconvenience associated with traditional inspection methods.

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Country/Region-wise Acumens

Will increasingly prioritizing repair and maintenance of existing infrastructure Accelerate North America?

North America’s dominance in the Structural Health Monitoring (SHM) system market can be attributed to several key factors. The region shares a common challenge with the rest of the world’s aging civil infrastructure. Bridges, buildings, and transportation networks in North America are reaching the end of their lifespans, necessitating robust monitoring systems to ensure their safety and structural integrity. This creates a significant demand for SHM systems, which are instrumental in continuously monitoring these aging assets to detect and address potential issues before they escalate into safety hazards.

Additionally, governments in North America, particularly in the United States and Canada, have been increasingly prioritizing repair and maintenance of existing infrastructure. SHM systems align perfectly with this focus by providing data-driven insights that enable targeted maintenance interventions, ultimately saving costs and extending the lifespan of critical assets. Furthermore, with increased investment from both public and private entities in infrastructure projects such as wind turbines and airframes, the need for reliable SHM systems to ensure the structural integrity of these new assets becomes paramount.

These systems not only help ensure compliance with regulatory requirements but also provide continuous monitoring data that can be used to demonstrate adherence to safety standards over time. With growth projections indicating a strong trajectory for North America’s SHM market, with Compound Annual Growth Rates (CAGR) projected between 14% and 18%, the region is poised for significant expansion in the coming years.

Will Government Initiatives and Regulations Aimed at Enhancing Infrastructure Safety And Sustainability Drive the Asian Pacific Region?

In the Asia-Pacific region, many governments in this region are beginning to recognize the significance of maintaining and monitoring infrastructure in order to avoid catastrophic failures and protect public safety. As a result, they are implementing strict laws and standards that require constant monitoring and maintenance of important structures including bridges, buildings, dams, and transportation networks. These rules frequently mandate the incorporation of advanced SHM systems to continuously check the structural integrity and health of these infrastructures, driving up demand for SHM technologies.

Furthermore, several Asian Pacific countries have prioritized sustainability, particularly in light of the problems posed by rising urbanization and the effects of climate change. Government-led initiatives promoting sustainable development encourage the use of SHM systems to extend the life of existing structures and reduce the need for new construction, which is resource demanding.
Grants, subsidies, and tax incentives for implementing SHM solutions are also driving industry expansion. Investing in SHM technologies allows Asia Pacific countries to improve the safety, efficiency, and sustainability of their infrastructure, while also meeting regulatory criteria and larger environmental goals. This proactive effort by governments is a key component driving the region’s SHM market growth.

Competitive Landscape

The Structural Health Monitoring Market is a vibrant and competitive landscape, with numerous players striving to establish their presence and gain market share. These entities are actively pursuing strategic initiatives such as collaborations, mergers, acquisitions, and garnering political support to solidify their positions in the market. Prominent players operating in the Structural Health Monitoring System Market include:

• Nova Metrix LLC
• Campbell Scientific, Inc.
• COWI
• Geocomp Corporation
• Acellent Technologies, Inc.
• Sixense
• Pure Technologies (Xylem, Inc.)
• Digitex
• SGS SA
• Kinematics
• GEOKON
• National Instruments Corporation
• Livehooah
• SignaGuard

Latest Developments

• In November 2023, ABS and Seatrium Limited successfully assigned a structural health monitoring notation to ADMARINE 686, the world’s first self-elevating drilling equipment, the partnership enabled the creation of a structural digital twin, which improves asset integrity and predictive maintenance capabilities.
• In September 2023, IIT Mandi collaborated with France’s INRIA to create AI-based structural health monitoring. This innovation used AI algorithms to reliably anticipate infrastructure health, revolutionizing existing bridge inspection procedures and other important assets.
• In November 2023, University of Central Florida researchers announced four technologies that use AI and virtual reality to improve structural health monitoring. Necati Catbas demonstrated the Virtual Visualisation System, which allows engineers around the world to evaluate structures simultaneously, which is critical for preventing calamities like the 2021 Surfside collapse.

Report Scope

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Structural Health Monitoring Market, By Category

Technology:

• Wired Structural Health Monitoring
• Wireless Structural Health Monitoring

Offering:

• Hardware
• Sensors
• Data Acquisition Systems (DAS) and Communication Systems
• Software & Services

Vertical:

• Civil Infrastructure
• Bridges
• Buildings
• Tunnels
• Aerospace & Defense
• Aerospace
• Defense
• Energy
• Mining

Geography:

• North America
• Europe
• Asia Pacific
• Rest of the world

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