Structural Health Monitoring Market Competitive Research, Share, Size, Competitive Breakdown And Regional Forecast 2027

1. Structural Health Monitoring Market Competitive Research, Share, Size, Competitive Breakdown And Regional Forecast 2027 Market Overview Structural health monitoring (SHM) is the practice of implementing a damage detection and characterization strategy for engineering structures namely buildings and bridges. In layman’s terms, it is the process of gaining knowledge of the integrity of the in-service structures on a constant real- time basis. The SHM process includes the observation of a system over time with the help of periodically sampled response measurements from an array of sensors. There are different processes involved in SHM namely operational evaluation, data acquisition, normalization, and cleansing, feature extraction and data compression, and statistical model development. SHM system’s elements include structure, sensors, data acquisition systems, data transfer and storage mechanism, data management, and data interpretation and diagnosis. Get HOLISTIC Request Sample Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-sample/3529 The global structural health monitoring market was valued for US$ 2,328 Mn in 2019 is expected to exhibit a CAGR of 14.0 % during the forecast period. Market Dynamics- Drivers Increasing government initiatives for public safety combined with standardization of the SHM system is expected to drive growth of the global structural health monitoring market during the forecast period Heavy structures such as dams, bridges, and buildings are prone to different intense loadings during their lifetime. These loadings get stronger during typhoons, cyclones, hurricanes, earthquakes, etc. These events can severely impact the integrity of an entire structure and lead to catastrophic damage and loss of life. However, implementation of SHM systems would minimize the repair and maintenance costs throughout a structure’s lifecycle. These systems play a crucial role in monitoring and maintenance of structural integrity of buildings of high importance per se hospitals or national monuments. Moreover, proactive initiatives by the government of various countries to address the aforementioned challenges are expected to drive the global structural health monitoring market growth during the forecast period. For instance, in October 2014, the Ministry of Transportation in China approved national design code for structural health monitoring, which specifies that SHM systems need to be designed simultaneously with infrastructures to ensure quality and integrity of the same when the infrastructures are being constructed. Furthermore, Regulation gosudarstvennyy standart Russia (GOST R) 53778-2010 has been extended and approved into the Eurasian standard GOST 31937-2011. This standard mandates implementation of structural health monitoring systems – similar to what is mandated in GOST R 53778-2010 – in countries such as Russia, Tajikistan, and the

2. Ukraine. This standard is approved by National Standard Department of Russian Standards for Buildings and Constructions. High availability of low-cost sensors is expected to propel the global structural health monitoring market growth over the forecast period In the recent past, the cost and size of various sensors such as temperature, vibration, and load have reduced significantly. This is owing to rampant advancements in technology in the semiconductor industry combined with intense competition among different manufacturers, typically in the Asia Pacific. Such sensors play a vital role in the SHM system and facilitate by collecting and formulating information required for monitoring and testing of various structures such as dams and bridges. Furthermore, availability of small and cost-effective sensors allow reduction in overall cost, which includes installation and additional material costs such as cables and other components. Thus, these factors are expected to propel the market growth in the near future. Europe region dominated the global structural health monitoring market in 2019, accounting for 32.8% share in terms of value, followed by North America and APAC, respectively. Market Trends Key solution providers are focused on low-cost energy harvesting monitoring systems Major and local players are focused on innovating monitoring solutions that harvest energy from renewable energy sources such as wind and solar, in order to reduce the amount of energy utilized by such monitoring systems. For instance, in March 2015, Sorin Group partnered with various research institutes and universities in order to develop autonomous energy harvesting wireless sensor modules, primarily for monitoring various applications such as aircraft and marine infrastructure. Growing adoption of distributed optic fiber in SHM solution Major SHM solution providers in the market are focused on developing SHM systems based on distributed optic fiber technology, in order to monitor load and detect damages to a structure. For instance, in August 2016, Naval Research Laboratory (NRL), a U.S.-based research facility, entered into a partnership with Material Science Division in order to develop structural health monitoring systems based on fiber laser sensor technology for detecting acoustic emission from cracks in riveted lap joints using distributed feedback. Key features of the study: •This report provides an in-depth analysis of the global structural health monitoring market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year

3. •It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market •This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players •It profiles leading players in the global structural health monitoring market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans •These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers. •Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics •The global structural health monitoring market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts •Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global structural health monitoring market. Detailed Segmentation: Global Structural Health Monitoring Market, By Type: •Wired SHM System •Wireless SHM System Global Structural Health Monitoring Market, By Component: •Hardware •Sensors •Data Acquisition System •Others •Software •Design & Analysis •Parameter Identification & Tracking •Others •Services •Installation Services •Design & Consulting Services •Operation & Maintenance Services Global Structural Health Monitoring Market, By Application: •Bridges & Dams •Buildings & Stadiums •Vessels & Platforms

4. •Airframes & Wind Turbines •Large Machinery & Equipment Get HOLISTIC Request Customization Of This Business Report: https://www.coherentmarketinsights.com/insight/request-customization/3529 Competitive Section Key players operating in the global structural health monitoring market are Nova Metrix LLC, National Instruments Corporation, Kinemetrics Inc., Advitam Inc. (Vinci SA), Hottinger Baldwin Messtechnik GmbH, Digitexx Data Systems, Inc., Geocomp Corporation, Acellent Technologies, Inc., Strainstall UK Limited (James Fisher & Sons PLC), and COWI A/S. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Name: Mr. Raj Shah Phone: US +12067016702 / UK +4402081334027 Email: sales@coherentmarketinsights.com Visit Our Blogs: https://blog.coherentmarketinsights.com