Tuesday, May 3rd, 2016 - Future Market Insights

Structural health monitoring is defined as process of implementing detection and characterization strategy for engineering structures. It provides timely and precise information regarding the condition and performance of structures. Structural health monitoring is a system that support in planning and designing maintenance activity which enhances safety, minimizes uncertainty and operating expenses. Structural health monitoring system offers real-time integrity monitoring of in-service structures to extend their life and reduce maintenance cost.

Structural Health Monitoring Market: Drivers and Restraint

Global structural health monitoring market is expected to grow rapidly over the forecast period. Factors driving the growth of the global structural health monitoring market are increasing demand of the cost-effective infrastructure maintenance, increasing concern of uncertain natural calamities encourages the demand of the structural health monitoring system. Furthermore, increasing need of public safety measures and government support fuels the growth of global structural health monitoring market.

On the other hand, high cost of structural health monitoring system, technical and operational challenges in integrating the system, huge amount of data management and process are the few factors hindering the growth of the global structural health monitoring market.

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Structural Health Monitoring Market: Segmentation

Global structural health monitoring market can be segmented on the basis of technology, solution type, application and region. On the basis of technology, the global structural health monitoring market can be segmented into wired structural health monitoring technology and wireless structural health monitoring technology. Demand of wireless structural health monitoring technology is expected to increase rapidly over the forecast period.

On the basis of solution type, the global structural health monitoring system market can be segmented into hardware, software and services required for the structural health monitoring system. Hardware includes sensors, data acquisition system (DAS) and others. Services segment includes design and consulting services

On the basis of application, the global structural health monitoring market can be segmented into building monitoring, bridge monitoring, tunnel monitoring, damns monitoring, stadium monitoring and others. Bridge monitoring application segment is expected to grow rapidly over the period of forecast. It has application in various industries which includes automotive, energy, construction and aerospace. There are large number of construction projects going on around the world. Hence, structural health monitoring market is expected to witness a remarkable growth over the period of forecast.

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Structural Health Monitoring Market: Region wise outlook

On the basis of region, the global structural health monitoring market can be segmented into seven regions which includes, North America, Latin America, Western Europe, Asia-Pacific (excluding Japan), Eastern Europe, Japan and Middle East & Africa region. Further the market is sub-segmented as per the major countries of each region in order to provide better regional analysis of the structural health monitoring market. Currently, North America and Western Europe dominated the global structural health monitoring market due to high technological advancement and awareness. However, APAC region is expected to witness significant growth over the period of forecast. It is due to growing support and initiatives by the countries in APAC region. In 2015, Chinese government made new rules and regulation and as per their new rule structural health monitoring should be used in the construction of new bridges and designing of structural health monitoring should be in parallel with designing of the bridges.

Structural Health Monitoring Market: Key Players

Key players in global structural health monitoring market are Digitexx Data Systems, Inc., COWI A/S, Advitam, Acellent Technologies, Inc., CTLGroup, Exponent, Inc. and Geokon, Incorporated. Key market players are focusing on providing innovative solution. Growing number of infrastructural projects around the word is one of the important driving factor for the growth of structural health monitoring market. Increasing government support for research & development in structural health monitoring encourages key market players for developing advanced solutions.

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Keywords

Structural Health Monitoring Market, Structural Health Monitoring Market Forecast

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