The Global Structural Health Monitoring Market research report is a detailed document outlining the recent advancements and developments in the Structural Health Monitoring Market business sphere considering 2021 as the base year and 2022-2030 as the forecast timeline. The report offers valuable insights into the market size, market share, sales channel and distribution network, segmentation of the market, demands, and trends, and growth prospects. The report also studies the growth of the market on a global and regional scale.
The global structural health monitoring market size was USD 1.87 Billion in 2021 and is expected to register a revenue CAGR of 14.3% over the forecast period. Rapid advancement in sensing technology due to investments in R&D and reduced cost of structural health monitoring devices are some key factors driving structural health monitoring market revenue growth.
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Sensors are being widely used by companies, across various industries, where process plants have installed sensors to digitize operations for process control and connected major processes in their plants. In addition, this can be used to gather and analyze data to achieve higher levels of process efficiency. Linking up intelligent sensing with Artificial Intelligence (AI) and Machine Learning (ML), can support decision-making and increase optimization of performances. Moreover, availability of a wide range of affordable sensors has led to a rise in adoption of sensors for real-time monitoring of structural components to extend the life, reduce maintenance costs, and ensure a high level of public safety. Fiber Optic Sensors (FOS) or other types of sensing devices can provide information about local behavior within component such as monitoring a fatigue crack on a critical component.
Key Points Covered in This Section:
Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
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The report further divides the Structural Health Monitoring market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Structural Health Monitoring market.
Emergen Research has segmented the global structural health monitoring market based on offering, technology, end use, and region:
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Offering Outlook (Revenue, USD Billion, 2019–2030)
- Hardware
- Software
- Services
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Technology Outlook (Revenue, USD Billion, 2019–2030)
- Wired
- Wireless
-
End Use Outlook (Revenue, USD Billion, 2019–2030)
- Civil Infrastructure
- Aerospace and Defense
- Energy
- Mining
Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report also studies the key companies of the Structural Health Monitoring market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Key participants include Nova Ventures, Geokon, Campbell Scientific, Inc., Structural Monitoring Systems plc., CGG SA, Acellent Technologies, Inc., Sixense, Xylem Inc., SGS S.A., and Digitexx Data Systems, Inc.
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Structural Health Monitoring market?
What are the key product types and applications of the Structural Health Monitoring industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Structural Health Monitoring market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Structural Health Monitoring Market by 2030?
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