Structural Health Monitoring Market, By Type (Wired and Wireless SHM System), By Component (Hardware (Sensors, Data Acquisition System and Others), Software (Design & Analysis, Parameter Identification & Tracking and Others ) and Services (Installation S

Structural Health Monitoring Market, By Type (Wired and Wireless SHM System), By Component (Hardware (Sensors, Data Acquisition System and Others), Software (Design & Analysis, Parameter Identification & Tracking and Others ) and Services (Installation Services ,Design & Consulting Service, Operation & Maintenance Services)), By Application (Bridges & Dams, Buildings & Stadiums, Vessels & Platforms, Airframes & Wind Turbines and Large Machinery & Equipment), and by Region (North America, Latin America, Europe, APAC and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

The process used for implementing damage detection for engineering designs such as dams, buildings, and bridges is referred to as Structural Health Monitoring (SHM). The SHM system is used for analyzing and monitoring the health of various structure such as buildings, bridges, dams, stadiums, and large machineries. There are different methods involved in structural health monitoring including data acquisition, operational evaluation, normalization, cleansing, and statistical model development. SHM systems elements include structure, sensors, data acquisition systems, data transfer and storage mechanism, data management, and data interpretation and diagnosis. SHM provides the safety of the structure by monitoring and evaluating its various parameters such as crack detection, damage detection, strain monitoring, and impact monitoring to protect the structure from any type of danger.
Market Dynamics
Growing advancement in wireless technology is expected to drive the growth of global structural health monitoring market (SHM). This wireless technology eliminated the use of wire and stopped the installation and protection of cable wire which reduced the cost of wireless SHM. These solutions are helpful in providing safety levels as they can be arranged remotely or before installation and replaced easily for the maintenance. Moreover, ease of connectivity, ample control over these systems, and enhanced communication are expected to propel growth of the global structural health market over the forecast period. For instance, Zig Bee is a wireless mesh network system who consumes low power and is used for wireless control and monitoring applications. Low power consumption provides long life batteries, while mesh networking provides high reliability and extensive range of connectivity.
Software and services is also driving the growth of this market owing to the growing importance of civil projects. SHM processes are becoming essential to identify the failures in the various structural designs such a dams, bridges, highway and buildings. The main approach of SHM is to collect data about the whole condition of the structures. The demand for software application and software algorithm is increased for the collection of various kinds of structural data. For instance, SCADA and MATLAB are used for identifying the damage detection in the engineering structures. These softwares detect damage at the initial stage and provides safety from any type of hazard. Hence, these factors are expected to hamper the market growth up to a certain extent.

Market Taxonomy
This report segments the global structural health monitoring market on the basis of by type, by component, by application and region. On the basis of type, the global structural health monitoring market is segmented into wired SHM system and wireless SHM system. On the basis of component, global structural health monitoring market is segmented into hardware (sensors, data acquisition system and others), software (design & analysis, parameter identification & tracking and others) and services (installation services, design & consulting service, operation & maintenance services)). On the basis of application, global structural health monitoring market is segmented into bridges & dams, buildings & stadiums, vessels & platforms, airframes & wind turbines and large machinery & equipment. On the basis of region, global structural health monitoring market is segmented into North America, Latin America, Europe, APAC, Middle East and Africa.
Key features of the study:
This report provides an in-depth analysis of the global structural health monitoring market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global structural health monitoring market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered in the Global Structural Health Monitoring Market includes Nova Metrix LLC, National Instruments Corporation, Kinemetrics Inc., Advitam Inc. (Vinci SA), Hottinger Baldwin Messtechnik GmbH, Digitexx Data Systems, Inc., Geocomp Corporation, Acellent Technologies, Inc., Strainstall UK Limited (James Fisher & Sons PLC), and COWI A/S.
These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
The global structural health monitoring market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global structural health monitoring market.
Detailed Segmentation:
Global Structural Health Monitoring Market, By Type:
Wired SHM System
Wireless SHM System

Global Structural Health Monitoring Market, By Component:
Hardware
Sensors
Data Acquisition System
Others
Software
Design & Analysis
Parameter Identification & Tracking
Others
Services
Installation Services
Design & Consulting Services
Operation & Maintenance Services
Global Structural Health Monitoring Market, By Application:
Bridges & Dams
Buildings & Stadiums
Vessels & Platforms
Airframes & Wind Turbines
Large Machinery & Equipment

Global Structural Health Monitoring Market, By Region:
North America
Latin America
Europe
APAC
Middle East and Africa

Company Profiles
Nova Metrix LLC *
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments
Future Plans
National Instruments Corporation
Kinemetrics Inc.
Advitam Inc. (Vinci SA)
Hottinger Baldwin Messtechnik GmbH
Digitexx Data Systems, Inc.
Geocomp Corporation
Acellent Technologies, Inc.
Strainstall UK Limited (James Fisher & Sons PLC)
COWI A/S
*Browse all the market data tables and figures on “Global Structural Health Monitoring Market- Forecast to 2027”