The Structural Health Monitoring Global Market Report 2023, provides comprehensive information on the structural health monitoring market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Structural Health Monitoring Global Market Report 2023, the market size 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. 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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Technological advancement is the key trend gaining popularity in the structural health monitoring market. Major companies operating in the structural health monitoring market are focusing on developing new technologies. For instance, in June 2021, Quakelogic, a US-based provider of intelligent disaster management solutions, launched the SMARTMONITORING system, an advanced and integrated structural health monitoring (SHM) and earthquake early warning (EEW) technology. The unique feature of the SMARTMONITORING system is 24/7 structural health monitoring with quick notification. Cloud-based technologies and artificial intelligence (AI) make fast, real-time information accessible to decision-makers and their teams. Within 60 seconds following an alarm-generating incident, it offers thorough SHM assessment reports and engineering-quality data that may be used to make an informed decision.
The structural health monitoring market is segmented:
1) By Component: Hardware, Software, Services
2) By Connectivity: Wired, Wireless
3) By Application: Bridges And Dams, Buildings And Stadiums, Vessels And Platforms, Airframes And Wind Turbines, Large Machinery And Equipment
4) By End User: Civil, Aerospace, Defense, Energy, Mining, Other End Users
Asia-Pacific was the largest region in the structural health monitoring market in 2022.
The table of contents in TBRC’s structural health monitoring market report includes:
1. Executive Summary
2. Structural Health Monitoring Market Characteristics
3. Structural Health Monitoring Market Trends And Strategies
4. Structural Health Monitoring Market – Macro Economic Scenario
5. Structural Health Monitoring Market Size And Growth
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26. Africa Structural Health Monitoring Market
27. Structural Health Monitoring Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Structural Health Monitoring Market
29. Structural Health Monitoring Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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