Structural Health Monitoring Market Report 2024 (Global Edition)

Global Structural Health Monitoring Market Report 2024 Market Size Split by Type (Hardware, Software, Services), by Application (Damage Detection, Crack Detection, Strain Monitoring, Wire Break Monito...

Structural Health Monitoring Market Report Description

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Structural Health Monitoring Market Insights Video

Competitive Landscape of the Structural Health Monitoring Market

Market leaders must be agile and fast to adopt new tactics to maintain their position. Market leaders in this space responded to shifting customer preferences through product launches, strategic alliances, and geographic growth.

• In December 2023, Campbell Scientific launched the AspenTM10 Internet of Things Edge Device, making it easy to connect your Aspen 10-compatible sensor to CampbellCloud. This outdoor-mountable device is perfect for usage in challenging conditions thanks to its built-in solar panel and internal rechargeable battery. 

(Source:www.campbellsci.com/newsroom/aspen10-release)

• In October 2023, National Instruments announced a new initiative to offer semiconductor analytics solutions that are edge-based and real-time. The GO platform, formerly Optimal+, will be utilized for this purpose by NI.

(Source:www.ni.com/en/about-ni/newsroom/news-releases/ni-announces-real-time-analytics-enablement-collaborating-with-leading-ate-vendor.html)

Top Companies Market Share in Structural Health Monitoring Industry: (In no particular order of Rank)

• GEOKON
• Campbell Scientific Inc.
• SIXENSE Systems
• Kinemetrics
• Digitexx Data Systems Inc.
• NATIONAL INSTRUMENTS CORP.
• OSMOS Group SA
• HBK
• Nova Ventures
• Acellent Technologies Inc.
• James Fisher and Sons plc.
• SODIS Lab
• GoeSIG Ltd
• STRUCTURAL MONITORING SYSTEMS PLC.
• FEAC Engineering
• Xylem Inc.
• Sisgeo S.r.l.
• FIRST SENSOR AG
• Digitex
• Geomotion Singapore
• COWI A/S
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Asia Pacific dominated the market in 2023 and accounted for around 26% of the global revenue

According to Cognitive Market Research, Asia Pacific dominated the market in 2023 and accounted for around 26% of the global revenue, owing to the greater expenditures in various wind turbines and airframes, focusing on repairing and maintaining civil infrastructure due to aged infrastructure. Furthermore, the increase in worries about natural disasters and the expansion of infrastructure and market participants are key elements fueling the growth of the structural health monitoring industry in the region.

The Middle East and Africa are the fastest-growing categories in the region due to increased investments, quickly expanding cities and a pressing demand for first-rate facilities. There will be a significant increase in the demand for structural health monitoring systems to keep track of all the structures and ensure they don't collapse due to the increasing number of civil infrastructure projects. These are all factors fueling the growth of the Middle East and African markets in the next few years.

The current report Scope analyzes Structural Health Monitoring Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Structural Health Monitoring Market

According to Cognitive Market Research, the global structural health monitoring market size was estimated at USD 2.8 Billion, out of which North America held the major market of more than 36% of the global revenue with a market size of USD 0.99 billion in 2023. It will rise at a compound annual growth rate (CAGR) of 18.0% from 2023 to 2030. The North American structural health monitoring market's expansion is driven by factors such as the growing emphasis on public works projects to fix and maintain infrastructure. The region's ageing infrastructure and rising government expenditures are the main forces propelling the market in the region. According to Cognitive Market Research, in the North American area, civil is presumed to have the fastest growth in the coming years because civil engineers can use the data collected from structural health monitoring to inform data-driven decision-making regarding building behavior, efficiency trends, and the effectiveness of maintenance plans. When people believe that well-monitored and maintained infrastructure is safe and reliable, they have more faith in construction. In conclusion, According to Cognitive Market Research, the demand for structural health monitoring has been fuelled by a growing number of countries, including the US and Canada, which are using structural health monitoring tools to guarantee the security of their citizens and their structures, which will increase the demand during this region's forecast period.

Europe Structural Health Monitoring Market

According to Cognitive Market Research, the global structural health monitoring market size was estimated at USD 2.8 Billion, out of which Europe held the major market of more than 30% of the global revenue with a market size of USD 0.84 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 18.2% from 2023 to 2030. The demand for structural health monitoring in this region is rising for several reasons, including rising disposable income, more people moving to cities, and the health consciousness of younger generations. According to Cognitive Market Research, damage detection structural health monitoring is predicted to expand rapidly in the European market in the coming years because by spotting structural damage early on, structural health monitoring systems can alert users to the impending danger of catastrophic failure and further degradation and users can reduce the frequency and severity of repairs while keeping maintenance expenses to a minimum. In conclusion, According to Cognitive Market Research, the structural health monitoring market in the European region with developing countries such as Germany, France, Italy, Spain, Russia, and the Rest of the European countries will witness healthy growth during the forecast period.

Asia Pacific Structural Health Monitoring Market

According to Cognitive Market Research, the global structural health monitoring market size was estimated at USD 2.8 Billion, out of which Asia Pacific held the major market of more than 26% of the global revenue with a market size of USD 0.73 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 21.00% from 2023 to 2030, due to fast-paced urbanization coupled with an immediate requirement for top-notch infrastructure. With more and more public works projects rising and technology development efforts to meet the increasing demand for structural health monitoring. These reasons are expected to drive the market expansion in this region. According to Cognitive Market Research, in the Asia-Pacific region, the hardware category is presumed to witness the most significant growth in the coming years owing to the high cost of sensors and data collection devices, two essential parts of structural health monitoring systems. Skyscrapers, dams, bridges, stadiums, and airframes all need massive amounts of hardware components to cover them. In conclusion, countries in the Asia-Pacific region, such as India, China, and Japan, have been pioneers in embracing new technologies and increasing their investment in infrastructure projects like bridges and building development to encourage economic growth. This trend has an impact on the local structural health monitoring market.

South America Structural Health Monitoring Market

According to Cognitive Market Research, the global structural health monitoring market size was estimated at USD 2.8 Billion, out of which Latin America held the major market of more than 5.00% of the global revenue with a market size of USD 0.14 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 19.6% from 2023 to 2030. The Latin American structural health monitoring market is growing because of factors like the rapid expansion of the infrastructure sector and the increasing government activities to standardize structural health monitoring systems and enhance public safety to propel industry growth in this region. According to Cognitive Market Research, the Latin American market is expected to increase in the following years because newly installed sensors allow for continuous monitoring of the building's structural conditions, giving a complete picture of the structure's behaviour over time. Additionally, these sensors are easy to integrate with other smart building technologies, so there will be synergies for better building management and optimization, improving the overall market's newly installed structural health monitoring category growth. In conclusion, according to Cognitive Market Research, steady growth should result from continuous collaboration and the acquisition of more companies in the region's structural health monitoring market in the coming years.

Middle East and Africa Structural Health Monitoring Market

According to Cognitive Market Research, the global structural health monitoring market size was estimated at USD 2.8 Billion, out of which the Middle East and Africa held the major market of more than 3.50% of the global revenue with a market size of USD 0.10 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 19.8% from 2023 to 2030. An increase in investments from different governments in the region, along with a boom in the need for structural health monitoring solutions for both new and existing structures, has led to a greater emphasis on safety, which is driving up demand for structural health monitoring expansion in the area during the forecast period. According to Cognitive Market Research, the wired structural health monitoring category will expand in the coming years. Due to the reliability and lack of limitations in long-distance data transfer, wired systems are extensively used to monitor various types of structures continuously. Moreover, wired structural health monitoring systems are currently in use to evaluate a wide range of structures across the region, including buildings, dams, and bridges. In conclusion, According to Cognitive Market Research, initiatives in infrastructure development and technological advancement in the Middle East and Africa will grow significantly during the forecast period.

Structural Health Monitoring Market Analysis

Structural Health Monitoring Type Segment Analysis

According to Cognitive Market Research, hardware held the major market share over the forecast period because sensors and data-collecting systems, crucial components of structural health monitoring systems, are expensive to fuel the segment's growth, huge quantities of hardware components are required to cover structures, including skyscrapers, dams, bridges, stadiums, and airframes.

Software is the fastest-growing category over the forecast period because of the rising need for structural health monitoring-based wired solutions and remote monitoring tools. The widespread use of wired structural health monitoring-based software solutions is driven by their affordability, ease, and adaptability.

• Hardware
• Software
• Services

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Structural Health Monitoring Industry. Request a Free Sample PDF!

Structural Health Monitoring Application Segment Analysis

According to Cognitive Market Research, damage detection holds a prominent market share because early detection of structural damage by structural health monitoring systems enables timely warnings of impending deterioration and catastrophic failure, and proactive and targeted maintenance by structural health monitoring systems reduces the need for costly repairs and maintenance expenses in overall.

Multimodal sensing is the fastest-growing category over the forecast period. The use of multimodal sensing allows for a more comprehensive assessment of a structure's condition by detecting several forms of damage, such as cracks, deformations, and material deterioration. The reliability of the system is improved by using several sensors. 

• Damage Detection
• Crack Detection
• Strain Monitoring
• Wire Break Monitoring
• Leakage Detection
• Multimodal Sensing
• Corrosion Monitoring
• Hotspot Monitoring
• Impact Monitoring
• Deflection Monitoring

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Structural Health Monitoring Connectivity Segment Analysis

According to Cognitive Market Research, wired holds a prominent market share because wired systems offer dependable connectivity and do not impose any limitations on long-distance data transfer; they are extensively used for continuous monitoring of many types of structures. Buildings, dams, and bridges, among other structures, are already undergoing evaluation using wired structural health monitoring systems on a global scale.

Wireless is the fastest-growing category over the forecast period, as wireless connectivity in structural health monitoring has various advantages, such as the ability to transmit data in real-time, deploy sensors anywhere, simplify installations, increase scalability, and efficient remote monitoring, early structural fault detection, and prompt repair or maintenance decision-making are all made possible by it, contributing to the market's overall growth.

• Wired
• Wireless

Structural Health Monitoring Installation Segment Analysis

According to Cognitive Market Research, new installation structural health monitoring holds a prominent market share because integrating newly installed sensors with emerging smart building technologies allows for efficient building management and optimization through synergies, and new installations allow for continuous and real-time monitoring of structural conditions, giving an extensive knowledge of the structure's behavior as time passes.

Retrofit is the fastest-growing category over the forecast period. Retrofitting with structural health monitoring systems improves existing structures' concert, safety, and durability without requiring extensive reconstruction, which reduces overall costs and eliminates disruptions associated with such projects. Modern monitoring technology can be integrated through retrofitting.

• New Installation
• Retrofit

Structural Health Monitoring Method Segment Analysis

According to Cognitive Market Research, visual inspection held the major market share over the forecast period because, as a cost-effective method of evaluating the visible conditions of structures, visual inspection uses human experience to evaluate those conditions. Inspectors can see wear, damage, or degradation that sensors alone are going to detect, which is fueling the market growth.

Non-destructive evaluation (NDE) is the fastest-growing category over the forecast period because utilizing NDE methods for long-term monitoring allows for constant evaluation of structural health and monitoring of alterations over an extended period. These methods can also detect and intervene early on in the life of a structure by revealing hidden defects like corrosion, material degradation, or internal cracks that may not be apparent through visual inspection.

• Visual Inspection
• Non-Destructive Evaluation (NDE)

Structural Health Monitoring End-User Segment Analysis

• Civil
• Aerospace
• Energy
• Mining
• Marine
• Industrial
• Offshore Platform
• Defense
• Schools
• Public Parks And Recreation
• Automotive
• Others

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

Author's Conclusion