Structural Health Monitoring Market to Reach USD 3,815.1 Million by 2027 | Advitam, Geocomp, Kinemetrics

The Structural Health Monitoring Market is expected to grow at a CAGR of 14.5% by 2027

PORTLAND, OR, UNITED STATES, September 12, 2023/EINPresswire.com/ — The Structural Health Monitoring Market has emerged as a cutting-edge technology that is transforming the way we inspect, assess, and maintain infrastructure assets. This blog explores the dynamic and burgeoning Structural Health Monitoring market, highlighting its significance, growth drivers, challenges, and future prospects. Structural health monitoring (SHM) is a non-destructive diagnostic method used to evaluate the current state of a structure. SHM includes the implementation of techniques and strategies for damage characterization and detection for applications in civil engineering, aerospace industry, and mechanical engineering.

The global structural health monitoring market size was valued at $1,674.0 million in 2019 and is projected to reach $3,815.1 million by 2027, registering a CAGR of 14.5% from 2020 to 2027.

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Top Leading Companies:
National Instruments Corporation, Advitam Inc., Digitexx Data Systems, Inc. Acellent Technologies, Inc., Nova Metrix LLC, COWI A/S, Geocomp Corporation, Hottinger Baldwin Messtechnik GmbH, Strainstall UK Limited, and Kinemetrics Inc.

Moreover, majority of the infrastructure in developed nations was developed after the Second World War and the industrial revolution. Hence, most of these structures are overused and old. In addition, the growth in population and development in lifestyles have deteriorated the condition of these structures such as bridges, pipelines, transportation systems, and others. SHM can assist in real-time continuous assessment of these structures, which can predict repairs and maintenance, resulting in lowered number of damages and accidents.

The Structural Health Monitoring, often referred to as SHM, is an integrated system that employs various sensors, data analysis techniques, and wireless communication to monitor the condition and performance of structures, such as bridges, buildings, dams, and pipelines. SHM provides real-time data on a structure’s health, enabling early detection of potential issues, ensuring safety, and optimizing maintenance processes.

SHM systems continuously monitor structures, enabling the detection of defects or damage in their early stages. This proactive approach can prevent catastrophic failures and ensure the safety of occupants and the general public. By identifying problems early, SHM reduces the cost of maintenance and repair. It allows for targeted and efficient allocation of resources, minimizing downtime and disruption. SHM contributes to sustainability by extending the lifespan of structures, reducing waste, and minimizing the environmental impact associated with reconstruction.

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Advancements in sensor technology, data analytics, and wireless communication have made SHM systems more affordable, reliable, and accessible. Rapid urbanization is leading to the construction of new infrastructure projects worldwide, creating a growing demand for SHM solutions to ensure their safety and performance. Government regulations and safety standards are becoming stricter, mandating the implementation of SHM systems for critical infrastructure.

SHM is likely to expand into sectors beyond traditional civil engineering, including aerospace, automotive, and energy, creating new growth opportunities. These technologies will play a crucial role in enhancing the predictive capabilities of SHM systems, allowing for more accurate defect detection and maintenance forecasting. Smaller and more versatile sensors will enable broader adoption of SHM, and integration with the Internet of Things (IoT) will enhance connectivity and data sharing.

The Structural Health Monitoring market is in a state of rapid evolution, driven by the need to ensure the safety, reliability, and sustainability of our infrastructure. As technology continues to advance, SHM will become more accessible and indispensable for a wide range of applications. With its potential to save lives, reduce costs, and minimize environmental impact, Structural Health Monitoring is poised to revolutionize the way we maintain and manage the structures that underpin our modern world.

Regional Analysis:
The global Structural Health Monitoring Market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global Structural Health Monitoring Market share, and LAMEA is anticipated to secure a leading position during the forecast period.

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David Correa
Allied Analytics LLP
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