The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Natural disasters are projected to stimulate innovation in structure health monitoring manufacturing, pushing the market during the forecast period.

The global structural health monitoring market is expected to grow from $2.31 billion in 2022 to $2.67 billion in 2023 at a compound annual growth rate (CAGR) of 15.59%. The global structural health monitoring market size is expected to reach $4.68 billion in 2027 at a CAGR of 15.13%.

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Global Structural Health Monitoring Market Segments Include:

• By Component: Hardware, Software, Services
• By Connectivity: Wired, Wireless
• By Application: Bridges And Dams, Buildings And Stadiums, Vessels And Platforms, Airframes And Wind Turbines, Large Machinery And Equipment
• By End User: Civil, Aerospace, Defense, Energy, Mining, Other End Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global structural health monitoring market in 2021.

Major Market Players in the structural health monitoring market include Nova Ventures Group Corp., Geokon, Campbell Scientific Inc., COWI A/S, Geocomp Corporation, Acellent Technologies Inc., Sixense, Structural Monitoring Systems Plc.

The primary trend gaining traction in the structural health monitoring market is technological improvement. Major players in the structural health monitoring market are focusing on the development of innovative technologies. Quakelogic, a US-based developer of intelligent disaster management solutions, for example, unveiled the SMARTMONITORING system in June 2021, a sophisticated and integrated structural health monitoring (SHM) and earthquake early warning (EEW) technology. The SMARTMONITORING system is distinguished by its 24-hour structural health monitoring and prompt alerting. Cloud-based technologies and artificial intelligence (AI) enable decision-makers and their teams to access real-time information. It provides detailed SHM evaluation reports and engineering-quality data within 60 seconds of an alarm-generating incident, allowing you to make an informed decision.

The Structural Health Monitoring Global Market Report 2023  provides a structural health monitoring market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The structural health monitoring market forecast analyzes structural health monitoring market size, structural health monitoring market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The practise of applying damage detection and characterization methods to essential structures such as bridges, wind turbines, and tunnels is referred to as structural health monitoring (SHM). It is used to ensure structural integrity and safety, trace the evolution of damage, and assess the performance of civil infrastructures.

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