Structural Health Monitoring Market

The global structural health monitoring market size was USD 1.7 Bn in 2021 and is likely to reach USD 5.8 Bn by 2030, expanding at a CAGR of 14.8% during 2022–2030. The market growth is attributed to the rapidly growing infrastructure, increasing government initiatives to focus on maintaining civil structures, and advancements in sensor technology.

Structural health monitoring (SHM) is a method that involves monitoring and analysis of a physical structure system over a time period to observe adverse changes.

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SHM method takes stock of risky changes in civil or private structures and objects such as infrastructure, machines, equipment, automobiles, and others, that can cause public safety issues. It is a widely applied method in various engineering fields to improve the reliability and life span of a structure or other objects.

The technological advancements in sensors have strengthened structural monitoring systems to regularly monitor and collect data on critical infrastructures, owing to which it has become a data-driven solution for civil infrastructure safety. The new smart and mobile sensor solutions have taken SHM to new levels in the past decade. Moreover, the rise of smartphones has opened new ways for innovative SHM solutions for identifying risks and predicting required repair and maintenance.

Innovative structural health monitoring technologies are becoming an important tool for civil engineers to design, analyze and maintain modern civil engineering structures and systems. The growing need to improve the structure or the machine’s life span has made way for the invention of various advanced gadget solutions.

Furthermore, advanced gadgets are highly efficient in monitoring and evaluating risk factors in a physical structure. Moreover, in modern times, SHM systems have the potential to be a key part of disaster recovery solutions, as they can provide the most accurate data on the impact of a disaster on a structure.

COVID-19 Impact on Global Structural Health Monitoring Market

The market report finds that the COVID-19 pandemic affected the growth of the global structural health monitoring market. Maintenance and repair works were slowed down or completely stopped owing to the lockdown restrictions imposed by various governments across the world. Moreover, the lockdown also resulted in disruptions in the supply chain, owing to which demand for devices and services was slowed down across the globe. The halting of operations affected the repair and maintenance work in the civil, defense, aerospace, and energy sectors in several countries.

The decline in COVID-19 infections due to vaccinations and ease in lockdown regulations have enabled the global market to start a gradual recovery from the second half of 2021. The global market has witnessed about 8 to 10 percent growth from 2021, owing to the rise in construction projects and increased investments in the infrastructure sector across the globe.

Global Structural Health Monitoring Market Dynamics

The research report presents a complete market overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global structural health monitoring market report has up-to-date insights about market scenarios that can shape the overall market performance and output during the forecast period, 2022 to 2030.

What are the Key Trends in the Global Structural Health Monitoring Market?

Growing Automation in Monitoring and Maintenance of Civil Structures

Growing automation in the repair and maintenance of civil infrastructure is expected to aid the rapid growth of the demand for SHM solutions. The COVID-19 pandemic made way for the rise in automation solutions for monitoring construction sites, owing to the limited workforce and social distancing measures during the time. However, the trend has continued despite the relaxation of lockdown, due to increased digitization.

Advanced technology such as Artificial Intelligence and the Internet of Things (IoT) used in SHM solutions, is aiding the SHM systems to function independently. Moreover, the use of technology and smart sensors has been expanding in the design, analysis, and maintenance of modern civil engineering infrastructures.

Automation in monitoring enables contractors to remotely observe the sites and gain the most accurate data from the evaluation regularly, which is expected to boost the market growth during the forecast period.

Which Major Drivers are Likely to Boost the Demand for Global Structural Health Monitoring Market?

Rising Focus on Infrastructure Development and Safety

Infrastructure development has a key role to play in the economic growth of developed and emerging economies in the modern world. The rising focus on developing sustainable and safe infrastructure by government and private organizations across the globe is expected to drive the demand for structural health monitoring solutions.

Structural health monitoring technologies are helpful in reducing damage risks and improving the longevity of the constructions. Additionally, the early detection of risky factors in physical structures enables quick fixing of the errors, owing to which maintenance costs can be saved as well as major structural failures are also averted.

Technological improvements are allowing government and private organizations to implement constant 24/7 monitoring measures in infrastructure projects, which is expected to drive global structural health monitoring market growth.

Growing Maintenance Requirement for Ageing Infrastructure

The growing maintenance requirement for aging infrastructure such as buildings, bridges, and outdoor facilities is expected to drive the growth of the global market in the coming years. Ageing infrastructure requires to be monitored on a regular basis to identify the risk factors and carry out the necessary maintenance or repair work to avoid the occurrence of disastrous situations in the future.

Moreover, rising natural disasters such as earthquakes, hurricanes, high rainfall, and other alike incidents are increasing concerns about the failure of old structures. The regular monitoring of such structures with the help of SHM solutions can be helpful in the timely identification of deteriorations, and in implementing the necessary measures to avoid large scale failures.

Which Key Factors are Restraining the Growth of the Global Structural Health Monitoring Market?

High Costs Involved in Installations and Monitoring

The high costs required for installations and monitoring are anticipated to hamper the global market growth during the projection period. The improvement of the SHM solution’s range, resolutions, accuracy, and repeatability requires a high initial investment, although they help in saving costs on a long-term basis.

Additionally, the cost factor is further impacted by the complexity of the structure. Based on the structural complexity, the cost required for hardware, software, and services also goes up. However, with the growing competition among the key players in the market, the cost rise is expected to slow down over the forecast period.

What are the Key Factors Expected to Create Lucrative Opportunities for Global Structural Health Monitoring Market Players?

Development of Advanced Sensors and Wireless Technologies

The development of advanced smart sensors and wireless technologies is expected to create significant growth opportunities for the global structural health monitoring market. Technological advances in wireless communications, sensors, and data acquisition systems offer new possibilities for the design and implementation of SHM solutions.

Smart sensors are capable of continuously monitoring the structure’s condition using real-time collection and processing of data. Moreover, wireless communication technologies are expected to do away with the limitations of wired systems, which is expected to expand the global market growth opportunities in the coming years.

Wireless technologies are beneficial in simplifying monitoring systems by eliminating wiring problems. In addition, wireless technologies can be availed for low cost which is also estimated to increase their demand in the market.

Scope of Structural Health Market Report

The global structural health monitoring market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Global Structural Health Monitoring Market Segment Insights

What are the Main Aspects for Boosting the Software Segment?

Rising Acceptance and Real-time Monitoring

Based on the solution, the global structural health monitoring market is divided into hardware, software, and services. The software segment is expected to expand at a substantial growth rate during the projected period owing to the rising acceptance of software solutions for monitoring various structures.

Moreover, the software solution is able to monitor and provide a real-time visual representation of changes in a structure’s stability. Software solutions such as MATLAB and SCADA are largely adopted to detect the damage in an early stage.

The services segment is also anticipated to hold a key share of the market in the coming years owing to the rising installations of SHM solutions to ensure the safety of civil and private structures. The growing demand for services such as installation, design & consulting, operation, and maintenance is expected to boost the services and hardware segment growth in the global market during the forecast period.

How is the Bridges & Dams Segment Generating More Revenue Share in the Global Structural Health Monitoring Market?

Growing Need to Ensure Safety and Longevity of Public Infrastructure

On the basis of applications, the global market is segregated into buildings & stadiums, bridges & dams, vessels & platforms, large machines & equipment, and airframes & wind turbines. The bridges & dams segment is projected to register a considerable CAGR during the forecast period The growth of the segment is attributed to the growing need to ensure the safety and longevity of public infrastructure projects.

Bridges and dams come under the regular use requirement for the general public, a mishap could end up causing a large-scale disaster, due to this it is important to maintain and repair these infrastructures on a regular basis.

On the other hand, the buildings & stadiums segment is anticipated to account for a major market share in the coming years owing to the rising construction of new buildings and stadiums in urban areas for residential and non-residential requirements. Moreover, the need to monitor old buildings to protect them from mishaps is also boosting segment growth in the global market.

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Why is the Wireless Segment More Prevalent than the Wired Segment?

More Flexibility and Reduction in Cost

In terms of technology, the global structural health monitoring market is bifurcated into wired and wireless. The wireless segment is expected to expand at a rapid pace during the forecast period. The growth of the wireless segment during the forecast period is expected owing to the rising adaptation of wireless technology solutions.

The wireless solution is advantageous because it provides more flexibility and also reduces installation, maintenance, and inspection costs. The wireless technology eliminates the use of wire which then provides more flexibility, and lessens complexity.

The wired segment is expected to hold a considerable share of the global market owing to the existing wide implementation of wired systems. The wired systems have high bandwidths due to which the transmission range limits are reduced. A reliable bandwidth and high efficiency in data transfer help in carrying out operations at high-speed, owing to which the wired technology is expected to continue holding a considerable share in the global market.

What Key Factors Contribute to the Rapid Expansion of the Civil Infrastructure Segment?

Maintaining and Securing Civil Infrastructure for Long-term

On the basis of end-user, the global market is segregated into civil infrastructure, energy, aerospace, defense, mining, and others. The civil infrastructure segment held the largest share of the market in 2021 and is estimated to register a significant CAGR during the forecast period. The constant need to effectively maintain the civil infrastructure to ensure their safety and longevity is helping the growth of the segment in the global market.

Quality infrastructure projects are considered important for the economic growth of the nation. For longevity and effective maintenance, structural health monitoring of a public infrastructure is rising in developed countries such as Japan, China, and India, which is expected to help the further growth of the civil infrastructure segment in the coming years.

Energy segment is expected to be the second-fastest growing in the market during the forecast period, owing to the rising construction of renewable energy projects such as solar energy and wind energy in developed and developing countries. The need to monitor and maintain these energy projects for their long-term durability is expected to boost energy segment growth during the projection period.

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Why is the demand for Structural Health Monitoring High in North America?

Rising Government Focus on the Maintenance of Civil Infrastructure

In terms of region, the global structural health monitoring market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market size of North America is projected to dominate the market during the forecast period. The growth is attributed to the growing focus given by the government to maintain and repair civil infrastructure.

Moreover, the infrastructure sector in North America is reliant on monitoring services to ensure the safety and security of residential and non-residential buildings. The need to safeguard private and public infrastructure from the effects of natural disasters is also expected the boost market growth in North America.

Asia Pacific is also anticipated to expand at a rapid pace during the forecast period owing to the growing infrastructure development and maintenance by emerging economies in the region. The long-term sustainability and maintenance of growing civil infrastructure projects such as power plants, dams, bridges, and smart cities are expected to aid the market growth during the projection period. The increasing investment made by governments in India, China, and other nations in improving and maintaining infrastructure is also helping the market growth in Asia Pacific.

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Segments

The global structural health monitoring market has been segmented on the basis of

Solution

• Hardware
• Software
• Services

Application

• Buildings & Stadiums
• Bridges & Dams
• Vessels & Platforms
• Large Machines & Equipment
• Airframes & Wind Turbines

Technology

• Wired
• Wireless

End-user

• Civil Infrastructure
• Energy
• Aerospace
• Defense
• Mining
• Others

Region

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• SGS Société Générale de Surveillance SA
• COWI A/S
• GEOKON
• Campbell Scientific, Inc.
• Nova Ventures
• NATIONAL INSTRUMENTS CORP.
• Digitexx Data Systems, Inc.
• Acellent Technologies, Inc.
• Geocomp Corporation
• HBM
• James Fisher and Sons plc
• Kinemetrics
• Sixense
• Xylem, Inc.
• LiveHooah Technologies Pvt. Ltd.
• SignaGuard, LLC.
• STRUCTURAL MONITORING SYSTEMS PLC.
• First Sensor AG
• BDI
• FEAC Engineering
• AVT Reliability Ltd.
• Geomotion Singapore

Competitive Landscape

The competitive landscape of the global structural health monitoring market report provides key insights into the growth strategies and development initiatives implemented by the key players in the market.

Key players competing in the global structural health monitoring market are SGS Société Générale de Surveillance SA; COWI A/S; GEOKON; Campbell Scientific, Inc.; Nova Ventures; NATIONAL INSTRUMENTS CORP.; Digitexx Data Systems, Inc.; Acellent Technologies, Inc.; Geocomp Corporation; HBM; James Fisher and Sons plc; Kinemetrics; Sixense; Xylem, Inc.; LiveHooah Technologies Pvt. Ltd.; SignaGuard, LLC.; STRUCTURAL MONITORING SYSTEMS PLC.; First Sensor AG; BDI; FEAC Engineering; AVT Reliability Ltd.; and Geomotion Singapore.

Some of these major companies adopted various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.

• On 25 April 2022, COWL A/S, an international consulting group, specializing in civil engineering and environmental sciences, announced the acquisition of FINLEY Engineering Group. The group is a specialty engineering firm well-known for its expertise in complex bridge projects of all types. The acquisition is expected to help COWL A/S strategy to improve its presence in North America. The company has already opened offices in Toronto and Houston.
• On 19 December 2022, Nova Measurements LLC (Nova Ventures), announced the acquisition of Controls S.p.A. Over the last 50 years, Controls S.p.A has been a global leader in designing, manufacturing, and supplying laboratory and on-field precision testing machines for the construction and civil engineering industry. The acquisition is expected to help the Nova Measurements platform strengthen its position in the global market.