Structural Health Monitoring Market

An Incisive, In-depth Analysis on the Structural Health Monitoring Market

This study offers a comprehensive, 360 degree analysis on the Structural Health Monitoring market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Structural Health Monitoring market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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Structural health monitoring has emerged as an advancement that is revolutionising the engineering industry across the globe. For the past several years, structural health monitoring was considered imperative in few application areas only. However, in the recent years, structural health monitoring is being considerably applied across a wide range of industries. Structural health monitoring helps monitor infrastructural/engineering structures by evaluating their condition through structural health monitoring sensors and analysing the collected data of the specific structure.

In the recent years, several advancements have been made in the structural health monitoring field in developing sensors and other hardware & software. Structural health monitoring, as considered under the scope of the report, is adopted across various industries to provide safety and reduce monetary losses due to structural damages. Moreover, technological developments, and the substantial availability as well as reduced cost of sensors are among factors promoting the growth of the global structural health monitoring market in terms of value. The global structural health monitoring market is estimated to be valued at US$ 1,591 Mn by the end of 2016, and is expected to expand at a CAGR of 14.2% in terms of value during the forecast period. The global structural health monitoring market is expected to represent a high incremental opportunity between 2017 and 2025.

Nowadays, safety concerns regarding engineering structures and critical infrastructure is an unavoidable issue, as damage to the same significantly impacts living beings as well as property in monetary terms. Thus, concerns regarding protection against damages among major factors boosting the revenue of the structural health monitoring market. Some of major factors propelling the overall structural health monitoring market are reduction in the expenditure required for the maintenance of engineering structures, safety of life and the safety of property. Several infrastructural companies, governments and marine & air traffic departments are adopting structural health monitoring technologies to reduce the expenses involved in dealing with infrastructural repairs, and this is driving the structural health monitoring market. Furthermore, the adoption of advanced technologies and economic growth of developing countries in South East Asia and Middle East & Africa is driving the overall structural health monitoring market.

Segment Analysis:

On the basis of component, the global structural health monitoring market can be segmented into hardware (sensors, data acquisition system, others), software (design & analysis, parameter identification & tracking, others) and services (installation services, design & consulting services, operation & maintenance services). The hardware segment is expected to account for a sizable share of the overall structural health monitoring market in 2017.

The sensors sub-segment is also expected to witness considerably high adoption. It is expected to be followed by the data acquisition systems sub-segment in the structural health monitoring market due to government initiatives for structural health monitoring due increased concerns regarding safety. On the basis of type, the global structural health monitoring market can be segmented into wired structural health monitoring systems and wireless structural health monitoring systems. The growth of the structural health monitoring market is predominantly driven by the wireless structural health monitoring systems segment. On the basis of application, the global structural health monitoring market can be segmented into bridges & dams, buildings & stadiums, vessels & platforms, airframes & wind turbines and large machinery & equipment.

Regional Analysis:

On the basis of geographical regions, the structural health monitoring market is segmented into North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and the MEA. The North America structural health monitoring market holds a major value share in the global structural health monitoring market, but it is likely to witness a decrease in its annual growth pattern during the forecast period. However, by the end of the forecast period, the APEJ region is expected to lead the overall structural health monitoring market in terms of revenue generated. The structural health monitoring market in the region is projected to represent a significant incremental opportunity between 2017 and 2025.

The bridges & dams application segment predominantly caters to the structural health monitoring market in North America. The North America structural health monitoring market is currently showcasing the development of structural health monitoring technologies by means of embedded or attached non-destructive evaluation sensors that utilise the data of critical structures. In terms of the revenue generated during the forecast period, the APEJ structural health monitoring market is expected to be followed by the North America and Western Europe structural health monitoring market. The sales of structural health monitoring in the Western Europe market is projected to represent a total incremental opportunity of US$ 851.3 Mn, while the Japan structural health monitoring market is also expected to witness significant growth. In addition, the structural health monitoring market is expected to gain traction during the forecast period, especially in developing countries such as India, China, etc., owing to the advantages associated with structural health monitoring and demand for reduction in the maintenance cost of engineering structures. The APEJ region is expected to present attractive opportunities for structural health monitoring solution providers during the forecast period, and is estimated to expand at a significant CAGR in terms of value.

Competitive Analysis:

Vendors in the structural health monitoring market are now focusing on introducing advanced technologies to enhance their monitoring outputs and efficiency. Examples of some of the structural health monitoring market vendors in this study of the global structural health monitoring market include National Instruments, Sixense Systems, Digitexx Data Systems Inc., Acellent Technologies Inc., COWI A/S, Kinemetrics Inc., Hottinger Baldwin Messtechnik GmbH, Geocomp Corporation, Nova Metrix LLC and Strainstall UK Ltd.

Vendors are continuously innovating the structural health monitoring solutions offered by them to penetrate the technology-influenced market. In June 2016, Sixense Systems, an infrastructure solutions provider, announced plans to deploy a structural health monitoring system on the 3rd Bosphorus Bridge located at Istanbul, Turkey. With reference to structural health monitoring, in June 2016, the company announced plans to implement its EverSense system at the Mohammed VI Bridge, which is Africa’s longest cable bridge, to monitor the strength of the cables that expand and oscillate due to wind forces. In May 2016, the company’s ScanPrint mobile was deployed by Aegean Motorway S.A for the inspection and guidance of maintenance of roadways in Greece. In the structural health monitoring market, the EverSense system also laid emphasis on application areas such as railways and roadway bridges, and in May 2016, used ScanPrint Infrastructure Management system (IMS) for metro tunnel maintenance in Glasgow.

Acellent Technologies, a provider of structural health monitoring solutions, has patented SMART Layer Technology, and focuses on minimising the cost and time required for the manual pre-inspection of structures that are out of service. In July 2015, the company collaborated with the US Army Research Laboratory and the Aero-Flight Dynamics Directorate for the non-destructive testing of aircraft aero-structure systems to integrate sensors into their systems for enabling continuous and periodic inspection. In June 2016, Hottinger Baldwin, introduced MX430B measurement module that provides four inputs for accurate measurement of full bridge strain gauge-based sensors to improve reliability and cancel the effects of temperature variations. In addition, in April 2016, the company developed flexible and wieldable optical strain gauges with special focus on the structure monitoring of pipelines and bridges, thus offering wider strain and temperature measurement ranges for applications that range from -40°C to +80 °C.

Report Synopsis

Future Market Insights (FMI) offers an eight-year forecast for the global structural health monitoring market between 2017 and 2025. In terms of value, the structural health monitoring market is expected to register a high CAGR during the forecast period. This study demonstrates the structural health monitoring market dynamics and trends globally across seven regions: North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and the MEA, which influence the current nature and future status of the structural health monitoring market over the forecast period.

Report Description

This research report provides a detailed analysis of the structural health monitoring market and offers insights about the various factors driving the popularity of structural health monitoring and its features. The report includes an extensive analysis of the key drivers of the structural health monitoring market, restraints of the structural health monitoring market, and the trends & structure of the structural health monitoring market. The structural health monitoring market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the structural health monitoring market based on component, type and application across different regions globally.

The structural health monitoring market is expected to witness substantial revenue growth during the forecast period owing to mounting infrastructural development across the globe, as well as increasing government initiatives towards the standardisation of structural health monitoring systems. Advancements in wireless technology are also expected to be among important factors driving the structural health monitoring market owing to ease of connectivity, communication and control of structural health monitoring systems. Structural health monitoring has critical applications in large structures such as bridges, dams, buildings and construction infrastructure, which are prone to intense load during their lifetime, especially during natural calamities such as earthquakes, typhoons, cyclones, etc. These critical applications require sensitive monitoring, which is expected to drive the global structural health monitoring market during the forecast period.

The global structural health monitoring report starts with an overview of the structural health monitoring market in terms of value. In addition, this section includes an analysis of key trends, drivers and restraints from the supply, demand and economy side, which are influencing the structural health monitoring market.

On the basis of the component, the structural health monitoring market is segmented into hardware (sensors, data acquisition system and others), software (design & analysis, parameter identification & tracking and others) and services (installation services, design & consulting services, operation & maintenance services).

On the basis of the type, the structural health monitoring market is segmented into wired structural health monitoring systems and wireless structural health monitoring systems.

On the basis of application, the structural health monitoring market is segmented into bridges & dams, buildings & stadiums, vessels & platforms, airframes & wind turbines and large machinery & equipment.

A detailed analysis has been provided for every segment in terms of market size analysis for the structural health monitoring market across different regions. This section provides a detailed analysis that covers the market key trends.

The next section consists of a detailed analysis of the structural health monitoring market across various countries in the region. It provides a market outlook for 2017–2025 and sets the forecast within the context of the structural health monitoring market to include the latest technological developments as well as offerings in the structural health monitoring market. This study discusses key trends within countries that contribute to the growth of the structural health monitoring market as well as analyses degrees at which drivers are influencing the structural health monitoring market in each region. Key regions and countries assessed in this report include North America (the U.S. and Canada), Latin America (Brazil, Mexico and the Rest of Latin America), Western Europe (Germany , France, UK, Italy, Spain, Benelux, Nordic and the Rest of Western Europe), Eastern Europe (Russia, Poland and Rest of Eastern Europe), APEJ (India, China, Australia & New Zealand, ASEAN and the Rest of APAC), Japan and MEA (GCC Countries, Turkey, South Africa, North Africa and the Rest of MEA). This report evaluates the present scenario and the growth prospects of the structural health monitoring market across various regions globally for the period 2017 –2025. We have considered 2016 as the base year and provided data for the remaining 12 months.

To offer an accurate forecast, we started by sizing the current market, which forms the basis of how the structural health monitoring market will grow in the future. Given the characteristics of the structural health monitoring market, we have triangulated the outcome of different types of analysis based on technology trends.

As previously highlighted, the global structural health monitoring market has been categorised into a number of segments. All segments in terms of component, type, application and different regions are analysed in terms of basis points to understand an individual segment’s relative contribution to the growth of the structural health monitoring market. This detailed information is important for the identification of various key trends of the global structural health monitoring market.

In addition, another key feature of this report on the structural health monitoring market is the analysis of all key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global structural health monitoring market.

In the final section of the report, we include a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the structural health monitoring portfolio and key differentiators. This section is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a market segment in the structural health monitoring supply chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and their success in the structural health monitoring marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the structural health monitoring market. Key competitors covered in the global structural health monitoring market report include National Instruments, Sixense Systems, Digitexx Data Systems Inc., Acellent Technologies Inc., COWI A/S, Kinemetrics Inc., Hottinger Baldwin Messtechnik GmbH, Geocomp Corporation, Nova Metrix LLC and Strainstall UK Ltd.

Key Segments Covered:

Component
- Hardware
  - Sensors
  - Data Acquisition System
  - Others
- Software
  - Design & Analysis
  - Parameter Identification & Tracking
  - Others
- Services
  - Installation Services
  - Design & Consulting Services
  - Operation & Maintenance Services
Type
- Wired SHM System
- Wireless SHM System
Application
- Bridges & Dams
- Buildings & Stadiums
- Vessels & Platforms
- Airframes & Wind Turbines
- Large Machinery & Equipment

Key Regions covered:

North America Structural Health Monitoring market
- U.S.
- Canada
Latin America Structural Health Monitoring market
- Brazil
- Mexico
- Rest of Latin America
Western Europe Structural Health Monitoring market
- Germany
- France
- U.K.
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
Eastern Europe Structural Health Monitoring market
- Russia
- Poland
- Rest of Eastern Europe
APEJ Structural Health Monitoring market
- China
- India
- Australia & New Zealand
- ASEAN
- Rest of APAC
Japan Structural Health Monitoring market
MEA Structural Health Monitoring Market
- GCC Countries
- Turkey
- South Africa
- North Africa
- Rest of MEA