Global Structural Health Monitoring Market was valued at USD 1.8 billion in 2019 which is expected to reach USD 4.8 billion by 2027 at a CAGR 17.5%.
Structural health monitoring is an important tool in analysis, design, and maintenance of modern civil engineering systems and structures. This system is mainly aims to maintain the structure of the domain specified. Structural health monitoring technologies can be described as observing the damage caused and developing strategies to characterize the structures. This technology is mainly involved in improving the safety of the structures along with low maintenance cost.
Increase in focus on structural health monitoring, obsolete infrastructure in various regions including Europe and North America is the key driving factor which is expected to boost the global structural health monitoring market. Further, rise in investments in infrastructure and advances in wireless sensor network will have the positive impact on global structural health monitoring market growth during this forecast period. Moreover, increase in technological advancements and innovations will fuel the global structural health monitoring market growth.
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However, an inaccurate result due to errors is the restarting factor which is expected to hamper the global structural health monitoring market growth. Also, high implementation cost will affect the global structural health monitoring market growth.
Market Segmentation
Global Structural Health Monitoring Market is segmented into technology such as Wired Structural Health Monitoring, and Wireless Structural Health Monitoring, by component such as Hardware, Software, and Services. Further, Global Structural Health Monitoring Market is segmented into end user such as Mining, Energy, Defense, Aerospace, Civil, and Others.
Also, Global Structural Health Monitoring Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Nova Metrix LLC , Geokon, COWI, Geocomp, Acellent, Pure Technologies, Kinemetric Inc, Campbell Scientific , Sixense , and Others
Market Taxonomy
By Technology
- Wired Structural Health Monitoring
- Wireless Structural Health Monitoring
By Component
- Hardware
- Software
- Services
By End User
- Mining
- Energy
- Defense
- Aerospace
- Civil
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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