The Global Structural Health Monitoring Market to grow from USD 1,536.98 Million in 2019 to USD 3,046.43 Million by 2025, at a Compound Annual Growth Rate (CAGR) of 12.07%.
Market Segmentation & Coverage:
The research report categorizes the Structural Health Monitoring Market to forecast the revenues and analyze the trends in each of the following segments:
Based on Offering, the Structural Health Monitoring Market studied across Hardware, Services, and Software. The Hardware further studied across Sensors. The Services further studied across Post-Installation and Pre-Installation.
Based on Technology, the Structural Health Monitoring Market studied across Wired Structural Health Monitoring and Wireless Structural Health Monitoring.
Based on Vertical, the Structural Health Monitoring Market studied across Aerospace & Defence, Civil Infrastructure, Energy, and Mining.
Based on Geography, the Structural Health Monitoring Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.
The factors attributing to the growth of the market are declined rate capital and loss of lives due to catastrophic failure of infrastructure in recent years, attractive rise in capital investments in structural health monitoring across various countries worldwide, aging infrastructure and higher benefits associated with structural health monitoring, and strict government regulations about the sustainability of structures. However, some factors such as delayed response to the structural health monitoring in developing countries, relative high installation and monitoring costs, and inaccuracy in results due to errors in readings may hinder the market growth. The Structural Health Monitoring Market expected to showcase the opportunities such as public-private partnerships for infrastructure development coupled with advancements in the field of sensor technology, local opportunities and high growth prospects in apac and gcc countries, and combination of technologically advanced solutions for structural health monitoring. Soon market may face the possible challenges in the growth due to necessity for large volumes of data processing and management, technical challenges and operational factors, and need of skilled operators required for installation and calibration of structural health monitoring instruments. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the market.
Cumulative Impact of COVID-19:
COVID-19 is an incomparable global public health emergency that has affected almost every industry, so for and, the long-term effects projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlaying COVID-19 issues and potential paths forward. The report is delivering insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecast, considering the COVID-19 impact on the market.
360iResearch Competitive Strategic Window:
The 360iResearch Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth.
360iResearch FPNV Positioning Matrix:
The 360iResearch FPNV Positioning Matrix evaluates and categorizes the vendors in the Structural Health Monitoring Market on the basis of Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Company Usability Profiles:
The Structural Health Monitoring Market is highly competitive and characterized by the presence of a large number of international and regional players in the market. The market has witnessed increased competition between vendors based on the pricing model, technology differentiation, brand name, quality of service, price differentiation, and technical expertise.
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Structural Health Monitoring Market, including Acellent Technologies, Avt Reliability, Bridge Diagnostics, Campbell Scientific, COWI A/S, Digitexx, Feac Engineering, First Sensor, Geocomp, Geokon, Geomotion (Singapore) Pte Ltd, Hottinger Baldwin Messtechnik, INFIBRA TECHNOLOGIES Srl, Kinemetrics, Inc., Nova Metrix LLC, Pure Technologies (A Subsidiary of Xylem), Rst Instruments, Sensuron, Setpoint Technologies Inc, SGS S.A., Sisgeo Srl, SITES AFLA (Pty) Ltd, Sixense, Sodis Lab, and Strainstall.