Structural Health Monitoring (SHM) Market By Solution, By Application (Bridges & Dams, Buildings & Stadiums, Vessels & Platforms), By Technology (Wired, Wireless), And Segment Forecasts, 2018   - 2025Report

Structural Health Monitoring (SHM) Market By Solution, By Application (Bridges & Dams, Buildings & Stadiums, Vessels & Platforms), By Technology (Wired, Wireless), And Segment Forecasts, 2018 - 2025

  • Published Date: Oct, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-587-8
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2016
  • Number of Pages: 140

Industry Insights

The global structural health monitoring (SHM) market size was valued at USD 1.22 billion in 2017. A rapid expansion in the infrastructure sector is poised to drive the market. Increasing government initiatives towards SHM system standardization and public safety are also boosting market growth. Stringent regulations pertaining to sustainability of structures and declining cost of sensors are projected to provide a fillip to the market.

Structural health monitoring is a tool that enables civil engineers to reduce maintenance cost and improve safety measures of crucial architectural structures. Fundamental functions performed by SHM systems include testing and monitoring of performance and health of large machines, airframes, turbines, and structures such as buildings, bridges, dams, and stadiums.

U.S. structural health monitoring market

This technology is an integration of data acquisition and transmission systems, sensors, analyzing tools, and measuring amplifiers, and software. The system plays a key role in detecting damages using predictive maintenance, boosts safety of the structure, and enables automatic response, thus saving time and costs.

In developing countries, ongoing large projects such as smart cities are using these systems to monitor overall infrastructure health. Such projects are likely to shape the future of the market over the coming years. Moreover, in 2014, according to regulations established by the Chinese government, SHM system should be used in newly built architectural structures and bridges. It also outlines significance of replaceable, maintainable, and durable sensors with service life of up to 20 years.

Growing infrastructural development across the world and increasing concerns regarding natural calamities are impelling governments worldwide to apply certain regulations regarding SHM, which in turn is expected to work in favor of the market. Increasing focus on low-cost energy harvesting systems and adoption of distributed optic fiber is further contributing to the growth of the market. Surging demand for cost-effective constructions and maintenance are anticipated foster the market growth.

Large structures such as buildings, dams, bridges, and other constructions are liable to various intense loadings during their lifetime, especially during calamities such as cyclones, earthquakes, and typhoons. These events can result in loss of lives and lead to large-scale damage as well as entail economic and social complications. Adoption of these systems reduces cost of maintenance and repairs, as these SHM systems are designed to provide prior warnings in the event of a possible catastrophe. Therefore, various governments are taking initiatives to promote these systems in order to improve public safety.

Solution Insights

Based on solution, the market has been categorized into hardware and software & services. The hardware segment dominated the market in terms of revenue in 2017 owing to significant cost of integral elements of SHM systems such as sensors and data acquisition systems. Hardware components are required to be installed in large numbers to cover structures such as buildings, dams, bridges, stadiums, and airframes.

In terms of different types of hardware solutions, sensors are projected to be a more prominent revenue contributor in the market. Advancements in sensor technologies, increasing usage of smart materials, and smart structures with embedded sensors are supplementing the growth of the market.

Technology Insights

By technology, the market can be bifurcated into wired and wireless SHM. The wired segment accounted for a larger share in the market in 2017. Wired systems are widely adopted for continuous monitoring of distinct types of structures as there is no limitation on long-distance data transfer as they provide reliable connectivity. Additionally, wired SHM systems are already being used for assessment worldwide of various structures including buildings, dams, and bridges in different countries.

Moreover, wireless SHM systems are projected to register a CAGR of 18.2% over the forecast period. The segment has emerged as a technology that will significantly influence the field of structural monitoring and infrastructure asset management.

Application Insights

On the basis of application, the SHM market has been divided into buildings & stadiums, bridges & dams, airframes & wind turbines, vessels & platforms, and large machine & equipment. Bridges & dams accounted for over 32.0% of the overall revenue in 2017. In 2014, according to the U.S. Department of Transportation (DOT), more than 61,000 bridges across the country were structurally deficient, which needed significant monitoring and inspection for maintenance and repair work. Similarly, in other regions, growing number of functionally obsolete and structurally deficient bridges is creating significant demand for structural health monitoring systems for monitoring and inspection of bridges.

Global structural health monitoring market

Building & stadiums are poised to witness a noteworthy CAGR of 17.8% over the forecast period. Rising number of sporting events such as FIFA World Cup and Olympics are creating demand for infrastructure including stadiums. Furthermore, governments are also promoting the use of these systems as they increase security of the infrastructure.

Regional Insights

The North America market was valued at USD 427.3 million in 2017. Rapidly aging infrastructure such as buildings, dams, bridges, and tunnels in North America is stirring up the demand for structural health monitoring systems.

According to Federal Highway Administration (FHWA), in the U.S., more than 30.0% of structures, including bridges and dams, have surpassed their 50 years of infrastructure design life. Therefore, in order to improve structural lifespan and enhance public safety, installation of these systems is needed. Such factors are anticipated to stoke the growth of the regional market. Increasing use of monitoring systems in the U.S. is playing a vital role in the growth of the market in the region.

Governments in North America and South America are taking initiatives towards adoption of monitoring systems in different applications to ensure public safety. Moreover, expansion in infrastructure facilities in Canada and Brazil are driving the market in these countries.

Furthermore, the Asia Pacific market is anticipated to witness the highest CAGR of 18.9% from 2018 to 2025. Increasing infrastructural construction activities and growing stringency of government regulations in the region are likely to propel the market in the region. Furthermore, some countries such as Indonesia and Japan are prone to earthquakes and thus, SHM systems are in high demand in these regions to enhance public safety.

Structural Health Monitoring Market Share Insights

Prominent industry participants include National Instrument Corporation; Digitexx Data Systems, Inc.; Accelent Technologies, Inc.; Advitam, Inc.; Geokon ALS; Geocomp Corporation; Pure Technologies; and Structural Monitoring Systems. Moreover, these key players are making high investments in R & D to develop innovative solutions and gain competitive edge over others.

The market is fragmented in nature owing to presence of a large number of manufacturers offering SHM solutions. Companies are focusing on strategies such as mergers and acquisitions, joint ventures, product launches, and partnerships to sustain and retain their share in the highly competitive arena. These strategies help them in expanding their global and regional presence as well as offer enhanced product portfolio to their customers.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2015 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Million and CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, South America, and MEA

Country scope

U.S., Canada, Mexico, U.K., Germany, China, Japan, India, and Brazil

Report coverage

Revenue forecast, company market share, competitive & vendor landscape, regulatory landscape, competitive landscape, growth prospects, and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and analyzes industry trends in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global structural health monitoring market report based on solution, application, technology, and region:

  • Solution Type (Revenue, USD Million, 2015 - 2025)

    • Hardware

      • Sensors

      • Data Acquisition Systems

      • Others

    • Software & Services

  • Application Type (Revenue, USD Million, 2015 - 2025)

    • Bridges & Dams

    • Building & Stadiums

    • Vessels & Platforms

    • Airframes & Wind Turbines

    • Large Machines & Equipment

  • Technology Type (Revenue, USD Million, 2015 - 2025)

    • Wired

    • Wireless

  • Regional Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • Japan

      • India

    • South America

      • Brazil

    • Middle East & Africa

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