The global structural health monitoring market is growing at significant rate, due to disastrous breakdown of the infrastructure outcomes in loss of lives and strict government regulations. Different technologies contributed to the structural health monitoring market size. The market has witnessed high demand for wireless structural health monitoring in the coming years due to reduced cost of structural health monitoring and mounting demand of wireless technology.
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On the basis of offering the structural health monitoring market is subdivided into hardware and software & services. Among all offerings, the hardware segment accounted the largest share is in the market, as the hardware is the integral element, which measure physical properties of any construction under surveillance.
On the basis of vertical the market is subdivided into civil infrastructure, energy, aerospace & defence, mining and others. Among the all verticals, the civil infrastructure accounted the largest share in the structural health monitoring market due to government investing in building infrastructural facilities, mounting infrastructure facilities and mounting government initiatives to monitor health of structure.
Disastrous breakdown of the infrastructure outcomes in loss of lives and encounters high prices, aging infrastructure, high assets investments for structural health monitoring, decreasing price of sensors, strict government regulations, and advanced benefits of structural health monitoring are the primary growth drivers for structural health monitoring market.
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Geographically, North America is the largest structural health monitoring market due to aging infrastructure such as tunnels, bridges and power plants. In addition, strict government regulations, acceptance of monitoring systems in various applications and usage of innovative sensor technologies are also up surging growth of the North American structural health monitoring market.
Key players in the structural health monitoring market are catering the demand by collaborating, and acquiring with small players and investing in technologically advanced products across the globe.
Sixense, Campbell Scientific, Acellent Technologies Inc., Geokon Incorporated, Cowi, Geocomp, and Structural Monitoring Systems plc are the key players offering structural health monitoring.
Source: VynZ Research