Structural health monitoring Market by Offering (Hardware, Software & Services), Technology (Wired, Wireless), Vertical (Civil Infrastructure, Aerospace & Defense, Energy, Mining), Implementation, Application and Region - Global Forecast to 2029
The global structural health monitoring market was valued at USD 2.5 billion in 2024 and is projected to reach USD 4.1 billion by 2029; it is expected to register a CAGR of 10.4% during the forecast period. The market's growth is driven by several key factors, including the rising significance of automated maintenance and repair for critical infrastructures, the far-reaching consequences of structural failures leading to loss of lives and capital, substantial investments in the infrastructure sector, stringent government regulations promoting sustainable construction practices, aging infrastructure prompting the adoption of structural health monitoring, and the cost efficiencies associated with the structural health monitoring industry.
Scope of the Report
Years Considered for the Study
2020-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Billion)
Segments
By Offering, Technology, Vertical, Implementation, Application and Region
Regions covered
North America, Europe, APAC, RoW
"The hardware segment to hold the largest share during the forecast period."
The hardware segment is anticipated to hold the largest share of the structural health monitoring market, primarily due to its integral role in measuring the physical properties of structures under surveillance. Within the hardware segment, sensors play a crucial role in collecting data for structural health monitoring systems. Wired structural health monitoring systems, which involve physical connections between sensors and data acquisition systems, are known for their stability and accuracy in data acquisition, making them a preferred choice for critical infrastructure monitoring applications.
"the wired technology segment to record largest market share during the forecast period."
The wired technology holds a substantial market share in structural health monitoring. Wired systems establish physical connections between sensors and data acquisition units, providing a dependable and well-established approach to monitoring structural integrity. This method is frequently employed for overseeing extensive structures with stringent safety and durability criteria such as bridges, buildings, chimneys, offshore platforms, and nuclear facilities. Wired solutions are recognized for their stability and precision in data collection, making them a favored option for critical infrastructure monitoring where reliability and accuracy are paramount.
"The Aerospace & Defence is likely to grow at the highest CAGR during the forecast period."
The Aerospace & Defense vertical is expected to experience highest market growth in the field of structural health monitoring. This growth is attributed to the non-destructive inspection of critical components in the aerospace industry to ensure safety and reliability. Companies like Testia and CURTISS-WRIGHT are prominent players in this sector, emphasizing the importance of structural health monitoring for aerospace applications. The rise in investments in infrastructure, particularly in the aerospace and defense sectors, is driving the demand for advanced monitoring systems to enhance safety and operational efficiency
"The Europe segment is likely to grow at the third highest CAGR during the forecast period."
The European market for structural health monitoring market is experiencing significant growth, primarily attributed to several factors. The European structural health monitoring (SHM) market is poised for substantial growth due to multiple converging factors. Firstly, aging infrastructure across Europe, including bridges and transportation networks, necessitates proactive management through SHM to detect issues early and prevent costly failures. Secondly, increased government investment in infrastructure renovation projects presents opportunities for integrating SHM solutions to ensure infrastructure longevity and safety. Thirdly, stringent safety regulations drive the demand for SHM by providing continuous monitoring data to ensure compliance and prioritize public safety. Furthermore, SHM contributes to sustainability goals by extending the lifespan of structures and optimizing resource utilization. Technological advancements in sensor technology and digitalization in construction enhance the accessibility and integration of SHM solutions. Additionally, growing awareness and expertise, focus on non-destructive testing, cost benefits, and applications beyond traditional infrastructure further fuel the growth of the SHM market in Europe.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
By Company Type - Tier 1 - 50%, Tier 2 - 30%, Tier 3 - 20%
By Region-North America - 40%, Europe - 25%, Asia Pacific - 20%, RoW - 15%
The structural health monitoring market is dominated by a few globally established players such as COWI A/S (Denmark), Campbell Scientific (US), Geokon (US), Nova Metrix LLC (US), SGS SA (Switzerland), Trimble Inc. (US), Structural Monitoring Systems PLC (Australia), Sixense (France), Digitexx Data Systems, Inc. (US), and Acellent Technologies, Inc. (US). The study includes an in-depth competitive analysis of these key players in the structural health monitoring market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The report segments the structural health monitoring market and forecasts its size by offering, by technology, implementation, application, vertical, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions-North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the structural health monitoring ecosystem.
Key Benefits to Buy the Report:
Analysis of key drivers (automation in maintenance & repair of infrastructure, loss of life and capital due to structural failures, increasing infrastructure investments,government regulations pertaining to sustainable structures, aging infrastructure and benefits associated with structural health monitoring, reduced costs of structural health monitoring systems). Restraint (high installation and monitoring costs, inaccurate results owing to errors in readings, slow adoption of structural health monitoring in developing countries). Opportunity (integration of advanced solutions for structural health monitoring, growing opportunities in Asia Pacific and GCC countries, advancements in sensor technologies, increasing investments in oil & gas and major energy projects). Challenges (dearth of skilled operators for installation and calibration of instruments, poor site conditions, technical challenges and operational factors, processing and management of large volumes of data)
Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new productand services launches in the structural health monitoring market.
Market Development: Comprehensive information about lucrative markets - the report analyses the structural health monitoring market across varied regions
Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the structural health monitoring market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like COWI A/S (Denmark), Campbell Scientific (US), Geokon (US), Nova Metrix LLC (US), SGS SA (Switzerland), Trimble Inc. (US), Structural Monitoring Systems PLC (Australia), Sixense (France), Digitexx Data Systems, Inc. (US), and Acellent Technologies, Inc. (US) among others in the structural health monitoring market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 STRUCTURAL HEALTH MONITORING MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.3.4 INCLUSIONS AND EXCLUSIONS
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
1.9 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 STRUCTURAL HEALTH MONITORING MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 List of primary interview participants
2.1.2.2 Key data from primary sources
2.1.2.3 Key industry insights
2.1.2.4 Breakdown of primaries
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION METHODOLOGY
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
FIGURE 3 STRUCTURAL HEALTH MONITORING MARKET: BOTTOM-UP APPROACH
FIGURE 4 STRUCTURAL HEALTH MONITORING MARKET SIZE ESTIMATION: DEMAND-SIDE ANALYSIS
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to arrive at market size using top-down analysis (supply side)
FIGURE 5 STRUCTURAL HEALTH MONITORING MARKET: TOP-DOWN APPROACH
FIGURE 6 STRUCTURAL HEALTH MONITORING MARKET SIZE ESTIMATION: SUPPLY-SIDE ANALYSIS
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 7 STRUCTURAL HEALTH MONITORING MARKET: DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
TABLE 1 STRUCTURAL HEALTH MONITORING MARKET: RESEARCH ASSUMPTIONS
2.5 RISK ASSESSMENT
TABLE 2 STRUCTURAL HEALTH MONITORING MARKET: RISK ASSESSMENT
2.6 RECESSION IMPACT
TABLE 3 STRUCTURAL HEALTH MONITORING MARKET: RECESSION IMPACT
2.7 RESEARCH LIMITATIONS
FIGURE 8 STRUCTURAL HEALTH MONITORING MARKET: RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
FIGURE 9 STRUCTURAL HEALTH MONITORING MARKET SIZE, 2020-2029 (USD MILLION)
FIGURE 10 HARDWARE OFFERINGS TO ACCOUNT FOR LARGER MARKET SHARE IN 2024
FIGURE 11 WIRED TECHNOLOGY TO DOMINATE STRUCTURAL HEALTH MONITORING MARKET BETWEEN 2024 AND 2029
FIGURE 12 CIVIL INFRASTRUCTURE VERTICAL TO HOLD LARGEST MARKET SHARE IN 2029
FIGURE 13 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN STRUCTURAL HEALTH MONITORING MARKET FROM 2024 TO 2029
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN STRUCTURAL HEALTH MONITORING MARKET
FIGURE 14 RISING NEED TO MONITOR AGING INFRASTRUCTURE TO PROVIDE LUCRATIVE OPPORTUNITIES FOR PLAYERS IN STRUCTURAL HEALTH MONITORING MARKET
4.2 STRUCTURAL HEALTH MONITORING MARKET, BY OFFERING
FIGURE 15 HARDWARE TO ACCOUNT FOR LARGER SHARE OF STRUCTURAL HEALTH MONITORING MARKET, BY OFFERING, IN 2029
4.3 STRUCTURAL HEALTH MONITORING MARKET, BY VERTICAL
FIGURE 16 CIVIL INFRASTRUCTURE TO DOMINATE MARKET FROM 2024 TO 2029
4.4 STRUCTURAL HEALTH MONITORING MARKET, BY TECHNOLOGY
FIGURE 17 WIRED TECHNOLOGY TO ACCOUNT FOR LARGER MARKET SHARE THAN WIRELESS TECHNOLOGY IN 2029
4.5 STRUCTURAL HEALTH MONITORING MARKET, BY REGION
FIGURE 18 NORTH AMERICA TO DOMINATE STRUCTURAL HEALTH MONITORING MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 19 STRUCTURAL HEALTH MONITORING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Rising automation of structural repair and maintenance processes
5.2.1.2 Increasing number of structurally deficient bridges
FIGURE 20 NUMBER OF STRUCTURALLY DEFICIENT BRIDGES IN US, 2019-2023
5.2.1.3 Surging investment in infrastructure development projects
5.2.1.4 Increasing focus on developing advanced tools to ensure building safety
5.2.1.5 Growing concern about aging infrastructure
5.2.1.6 Rising adoption of micro-electromechanical systems and fiber optic sensors
FIGURE 21 IMPACT ANALYSIS: DRIVERS
5.2.2 RESTRAINTS
5.2.2.1 High installation and monitoring costs
5.2.2.2 Inaccurate readings due to design & calibration errors
TABLE 4 DESIGN AND CALIBRATION ERRORS AND CORRECTIVE MEASURES
5.2.2.3 Insufficient infrastructure investments in developing countries
FIGURE 22 IMPACT ANALYSIS: RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.3.1 Introduction of AI-powered infrastructure asset management solutions
5.2.3.2 Population growth in emerging economies
5.2.3.3 Rapid advancement in sensor technologies
5.2.3.4 Increased funding for oil & gas projects
FIGURE 23 IMPACT ANALYSIS: OPPORTUNITIES
5.2.4 CHALLENGES
5.2.4.1 Shortage of highly skilled operators
5.2.4.2 Harsh weather and adverse site conditions
5.2.4.3 Complex installation processes
5.2.4.4 Difficulties in managing large volumes of data
TABLE 178 DIGITEXX DATA SYSTEMS, INC.: COMPANY OVERVIEW
TABLE 179 DIGITEXX DATA SYSTEMS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
13.2 OTHER PLAYERS
13.2.1 FIRST SENSOR AG
13.2.2 BDI
13.2.3 SISGEO
13.2.4 RST INSTRUMENTS LTD.
13.2.5 AVT RELIABILITY
13.2.6 GEOMOTION SINGAPORE
13.2.7 STRAINSTALL ( JAMES FISHER AND SONS PLC.)
13.2.8 HBK
13.2.9 KINEMETRICS
13.2.10 FEAC ENGINEERING P.C.
13.2.11 EFI GLOBAL, INC.
13.2.12 SENSURON
13.2.13 INFIBRA TECHNOLOGIES
13.2.14 SODIS LAB
13.2.15 SET POINT TECHNOLOGIES
13.2.16 MISTRAS GROUP
13.2.17 METIS DESIGN CORPORATION
13.2.18 GEOSIG LTD.
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.