The structural health monitoring market is estimated to grow from USD 1.5 billion in 2020 to USD 2.8 billion by 2028, at a CAGR of 14.5% between 2019 and 2028. the main drivers for the market growth are automation and standardization in maintenance & repair of civil infrastructure within the post-COVID-19 period, loss of lives and capital thanks to catastrophic failure of infrastructure in recent years, increasing capital investments in structural health monitoring across various countries worldwide, stringent government regulations concerning the sustainability of structures, aging infrastructure and superior benefits related to structural health monitoring, and declining cost of structural health monitoring systems.

Top Driver: Automation and standardization in maintenance will drive the market

The construction industry has witnessed a slow transformation toward the digitization and automation of its key processes, like maintenance and repair, in recent years. The pandemic has significantly hampered the work and productivity of the workers at the development sites, because they got to execute the contracts under conditions of social distancing and dealing with limited capacity has resulted within the loss of your time and money. Thus, the trend toward the automation and standardization of key processes alongside the remote working solutions is increasing. The gradual rise of the standardization and automation of maintenance and repair is predicted to extend the trend of remotely working, which might be a transformational impact on the development industry. Qualified personnel could exercise its control and perform its duties remotely with enough information through the installed systems without compromising on quality and control.

Hardware to Make Crucial Contribution for Growth of structural health monitoring market

The structural health monitoring marketplace for the hardware segment is predicted to dominate between 2019 and 2028. Hardware components are an important a part of the structural health monitoring system. These components measure various physical properties like strain, deformation, and tilt of any structure under observations. supported the received data from the varied hardware equipment, decisions are made regarding the precise structure. Hardware includes various sensors, DAS, and other communication devices. Therefore, this segment is predicted to carry a bigger share during the forecast period.

wired monitoring systems are already getting used widely for the general assessment of various structures like bridges, buildings, and dams. The wired structural health monitoring system defines the communication technology between sensors, the info acquisition system (DAS), and other communication devices that are connected with the assistance of lead wires, co-axial cables, optical fibers, and other wired communication technologies. Wired techniques are widely used for the installation of structural health monitoring systems for many years. Presently, the wired monitoring system is extensively used because it offers certain advantages like reduced data attenuation, high speed of operation, no limitation on a transmission range, and high system bandwidth.

North America dominated to witness fastest growth in structural health monitoring market

The North America market was valued at USD 427.3 million in 2019. Rapidly aging infrastructure like buildings, dams, bridges, and tunnels in North America is stirring up the demand for structural health monitoring systems.

the Asia Pacific market is anticipated to witness the very best CAGR of 18.9% from 2019 to 2028. Increasing infrastructural construction activities and growing stringency of state regulations within the region are likely to propel the market within the region. Furthermore, some countries like Indonesia and Japan are susceptible to earthquakes and thus, SHM systems are in high demand in these regions to reinforce public safety.

Players to Focus on structural health monitoring market

A few of the main players within the structural health monitoring market are COWI (Denmark), Pure Technologies (Canada), Structural Monitoring Systems (Australia), Acellent Technologies (US), Geocomp Corporation (US), Campbell Scientific (US), Nova Metrix (US), Geokon, Incorporated (US), SIXENSE Systems (France), Digitexx Data Systems (US), Bridge Diagnostics (US), Sisgeo (Italy), RST Instruments (Canada), AVT Reliability (UK), and Geomotion Singapore (Singapore).

Scope of the Report

By components

• Hardware
• Sensor
• Data Acquisition Systems

By Technology

• Wired
• Wireless

By Application

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

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report 

1. It provides a technological development map over time to understand the growth rate of the industry.

2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.

3. It renders definite analysis for changing competitive dynamics.

4. It builds a seven-year estimate based on how the market is predicted to grow.