Demand Scenario of Structural Health Monitoring Market to Remain Positive Throug
Structural health monitoring is a tool that enables civil engineers to reduce maintenance cost and improve safety measures of crucial architectural structures. Fundamental functions performed by SHM systems include testing and monitoring of performance and health of large machines, airframes, turbines, and structures such as buildings, bridges, dams, and stadiums.This technology is an integration of data acquisition and transmission systems, sensors, analysing tools, and measuring amplifiers, and software. The system plays a key role in detecting damages using predictive maintenance, boosts safety of the structure, and enables automatic response, thus saving time and costs.Global Structural health monitoringMarket is expected to grow in the forecasted period, in 2017 market size of the Structural health monitoringwas XX million and in 2025 is expected to reach at XX million with growing CAGR of XX%.
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A rapid expansion in the infrastructure sector is poised to drive the market. Increasing government initiatives towards SHM system standardization and public safety are also boosting market growth. Stringent regulations pertaining to sustainability of structures and declining cost of sensors are projected to provide a fillip to the market. In developing countries, ongoing large projects such as smart cities are using these systems to monitor overall infrastructure health. Such projects are likely to shape the future of the market over the coming years.Growing infrastructural development across the world and increasing concerns regarding natural calamities are impelling governments worldwide to apply certain regulations regarding SHM, which in turn is expected to work in favour of the market.
National Instrument Corporation, Digitexx Data Systems, Inc., Accelent Technologies, Inc., Advitam, Inc., Geokon ALS, Geocomp Corporation, Pure Technologies, Structural Monitoringand other are some of the prominent players in the Structural health monitoringMarket.
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The Structural health monitoringmarket is classified by solution, application, technology, and region. On the basis of solutionthe market is segmented into hardware, software and services. Further, the hardware is classified into Sensors, Data Acquisition Systems and Others?
Further, based on applicationthe market is classified into bridges & dams,?building & stadiums,?vessels & platforms,?airframes & wind turbines and?large machines & equipment.On the basis of region the market is classified into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa.
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