The ‘ Structural Health Monitoring market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market overview; Structural Health Monitoring derived key statistics, based on the market status of the manufacturers and is a valuable source of guidance and direction for companies and individuals interested in Structural Health Monitoring market size forecast, Get report to understand the structure of the complete fine points (Including Full TOC, List of Tables & Figures, Chart).
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The global structural health monitoring market was valued at $1,674.0 million in 2019 and is projected to reach $3,815.1 million by 2027, registering a CAGR of 14.5% from 2020 to 2027. Structural health monitoring (SHM) refers to collection and analysis of data derived through a wide array of connected sensors during the service life of a structure or equipment. It is a non-destructive and continuous data collection method of identifying and quantifying the deterioration state of the object to predict the necessity of repair and maintenance. The real-time data collection and analysis can help in making appropriate decisions to avoid occurrence of accidents and unprecedented failures in the structure. SHM can be applied in industries such as civil, aerospace, defense, energy, and others.
The aging infrastructure in developed countries including Japan, the U.S., the UK, and others, is expected to surge the demand for structural health monitoring solutions. For instance, according to ‘2021 Report Card for America’s Infrastructure’ published by the American Society of Civil Engineers (ASCE), 42% of the bridges in the U.S. are aged atleast 50 years, whereas, around 7.5% of the country’s bridges were considered as structurally deficient and are in a poor condition. Such structures require continuous assessment to predict the necessity of repairs and maintenance to avoid sudden failures, which may lead to accidents and fatalities. This is expected to create a demand for structural health monitoring, which in turn drives the growth of structural health monitoring market. Moreover, the effectiveness of SHM over the conventional methods of inspection and testing is also expected to propel the growth of the structural health monitoring market.
Conventional methods such as visual inspection and non-destructive testing are periodical and do not offer real-time analysis of the structure’s health and defects. Thus, structural health monitoring proves to be more effective and accurate, which drives the growth of the structural health monitoring market.
However, the high costs of installation, hardware, and operation of SHM is hindering its growth in the industry. In addition, lack of skilled personnel for data collection and processing and high costs of the devices hampers the growth of the structural health monitoring market.
The global structural health monitoring market is segmented on the basis of component, end user, connectivity, and region. Based on component, the structural health monitoring market is fragmented into hardware, software, and services. According to end user, the global structural health monitoring market is categorized into civil, aerospace, defense, mining, energy, and others. By connectivity, the market is classified into wired and wireless. Region wise, the structural health monitoring market has been analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in this report include National Instruments Corporation, Advitam Inc., Digitexx Data Systems, Inc. Acellent Technologies, Inc., Nova Metrix LLC, COWI A/S, Geocomp Corporation, Hottinger Baldwin Messtechnik GmbH, Strainstall UK Limited, and Kinemetrics Inc.
The key players in this market adopted product launch, partnership, and expansion as their key strategies to meet the change in consumer demands. For instance, Strainstall UK Limited launched a new load shackles to monitor solutions for Marine Energy’s PLAT_I tidal energy project in the U.S. The project aimed to provide better understanding about the effect of extreme conditions for turbines.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging structural health monitoring market trends and dynamics.
In-depth market analysis is conducted by structural health monitoring market estimations for the key market segments between 2019 and 2027.
Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global structural health monitoring market forecast analysis from 2020 to 2027 is included in the report.
The key market players within the structural health monitoring market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market.
GLOBAL STRUCTURAL HEALTH MONITORING MARKET SEGMENTS
BY END USER
– National Instruments Corporation
– Advitam Inc.
– Digitexx Data Systems, Inc.
– Acellent Technologies, Inc.
– Nova Metrix LLC
– COWI A/S
– Geocomp Corporation
– Hottinger Baldwin Messtechnik GmbH
– Strainstall UK Limited
– Kinemetrics Inc.
Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan
In-Depth Qualitative Analyses Include Identification And Investigation Of The Following Aspects:Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
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Changing Forecasts in a Time of Crisis: explores key issues, including:
- The heavy economic impacts of social distancing measures
- Future changes in consumer behavior
- The urgent need for high-frequency economic data
- Mapping Out a Potential Recovery
- Business Strategies During COVID-19
- Near & Long Term Risk Outlook, Risk Assessment and Opportunities
Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis
Q.1 What are some of the most promising potential, high growth opportunities for the global market by application, by product, by end user and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster speed and why?
Q.3 Which regions will grow at a faster speed and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats of market?
Q.6 What are emerging trends in market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the leading players in market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this market?
Q.11 What M & A activities have taken place in the last five years in this market?
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Key Points Covered in Structural Health Monitoring Market Report: COVID 19 Impact Analysis
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Structural Health Monitoring market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Structural Health Monitoring Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
……..and view more in complete table of Contents
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