| Source: Straits Research
Pune, INDIA
New York, United States, Aug. 02, 2022 (GLOBE NEWSWIRE) — Structural Health Monitoring identifies and assesses structural deterioration in civil, aeronautical, and mechanical engineering. After World War II and the Industrial Revolution, most developed countries’ infrastructure was built. Overworked buildings are now obsolete.
Population expansion and lifestyle changes have exacerbated infrastructure deterioration such bridges, pipelines, and transportation networks. Continuous real-time inspection of these structures can predict maintenance and repairs, reducing damage and accidents.
SHM is a popular civil engineering research field. SHM is vital for designing, analyzing, and maintaining modern civil engineering systems and structures. Increased attention on structural health monitoring, ageing infrastructure in North America and Europe, ageing domestic and international airline aircraft, decreased inspection costs, and more natural disasters are driving the structural health monitoring industry.
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Global Structural Health Monitoring Market: DRIVERS
Civil infrastructure includes bridges, dams, stadiums, and skyscrapers. New infrastructure spurs economic growth. Bridges and tunnels cut travel expenses, speed travel, and enhance regional trade. These institutions affect a country’s population and economic growth. Several countries are monitoring the structure’s health. Globally, prominent governments are investing in new infrastructure.
North and South America, Europe, and the Middle East are investing extensively in civil infrastructures to develop new and upgrade old facilities. As the world’s population expands, so will the need for more infrastructure and structural inspections.
Advances in technology, widespread availability, and lowering prices of sensors are driving the global market for structural health monitoring. Modern engineering buildings and infrastructure must be safe. Damage to the latter might affect people’s life and goods economically. Damage prevention is a primary aspect in structural health monitoring revenue. Lowering the costs of maintaining engineered structures and protecting lives and property are driving the structural health monitoring business.
Global Structural Health Monitoring Market: KEY FUTURE OPPORTUNITIES
Due to their dense populations, India and China, two rapidly urbanizing Asian countries, have prioritized infrastructure development. Therefore, new and existing structures need structural health monitoring technologies. Several Asia-Pacific companies offer structural health monitoring systems. The Americas have the largest market for structural health monitoring. In the US and Europe, structural health monitoring is growing significantly. Due to increased infrastructure developments in China, Japan, India, Singapore, and GCC countries including the UAE, Saudi Arabia, and Qatar, structural health monitoring has room to grow.
Report Scope
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Regional Overview of Global Structural Health Monitoring Market
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the global structural health monitoring market.
North America accounted for about 40% of the market’s sales in 2021. Several factors are driving North American demand for structural health monitoring systems. These factors include the government’s increased attention on infrastructure repair and upkeep, ageing infrastructure, and greater government investments.
The U.S. and Canada rely more on structural health monitoring systems to protect people and buildings. Due to accelerated ageing in North America and Europe, bridges, dams, and tunnels must employ structural health monitoring devices.
Asia Pacific is expected to have the greatest CAGR. In Asia and the Pacific, the number of bridges, power plants, and smart cities has increased, which has increased the need of structural health monitoring. China and India, among others, are investing more in bridges and buildings to encourage economic growth.
Increasing urbanization and the need for decent infrastructure are driving the Asia-Pacific market. As measures to upgrade civil infrastructure rise, structural health monitoring systems will be in demand. These systems maintain and monitor structures to prevent catastrophic failures.
Key Highlights
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Major Players in Global Structural Health Monitoring Market
Global Structural Health Monitoring Market: Segmentation
BY SOLUTION
BY APPLICATION
BY TECHNOLOGY
BY GEOGRAPHY
TABLE OF CONTENT
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