Structural Health Monitoring Market Size - By Offering (Hardware, Software, Service), By Type (Wired SHM Systems, Wireless SHM Systems, Others), By Technology (Fiber Optic, Acoustic Emission, Ultrasound, Thermography, Others), By End & Forecast, 2024 - 2032

Structural Health Monitoring Market Size

Structural Health Monitoring Market was valued at over USD 3.1 billion in 2023 and is estimated to register a CAGR of over 10% between 2024 and 2032. Many developed countries face the challenge of aging infrastructure including bridges, roads, tunnels, and buildings. The need to monitor and maintain these structures to prevent catastrophic failures drives the demand for these systems.

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Moreover, advancements in sensor technologies, data analytics, and wireless communication have made structural health monitoring systems more efficient, cost-effective, and easier to deploy. Innovations in areas, such as the Internet of Things (IoT), big data, and Artificial Intelligence (AI), are significantly enhancing their capabilities. The increasing frequency of natural disasters, such as earthquakes, floods, and hurricanes, highlights the need for robust structural health monitoring systems. These systems help in the early detection of potential structural failures, allowing for timely maintenance and repair, and improving disaster preparedness.

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The deployment of structural health monitoring systems involves substantial initial investment in hardware, software, and installation services. This high upfront cost can be a barrier for some organizations, especially in developing regions with limited budgets. Moreover, these systems can be complex to install and maintain, requiring specialized knowledge and skills. This technical complexity can deter potential users who lack the necessary expertise or resources to manage these systems effectively.

Structural Health Monitoring Market Trends

The use of IoT technology and smart sensors is becoming more prevalent in structural health monitoring systems. These advancements enable real-time data collection and monitoring, improving the accuracy and efficiency of structural assessments. The application of advanced data analytics, Machine Learning (ML), and AI is transforming the structural health monitoring industry. These technologies enhance predictive analytics for improved estimation of structural issues, optimized maintenance schedules, and extended structure lifespan.

The concept of digital twins or virtual replicas of physical structures is gaining traction. Digital twins allow for continuous monitoring and simulation of structural performance, providing valuable insights for maintenance and decision-making. The market is expanding in emerging economies due to rapid urbanization and infrastructure development. Governments and private sectors in these regions are investing in structural health monitoring technologies to ensure the safety and durability of new constructions.

Structural Health Monitoring Market Analysis

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Based on offering, the hardware segment dominated the global market with a share of over 40% in 2023. The deployment of structural health monitoring systems requires significant investment in hardware components such as sensors (strain gauges, accelerometers, displacement sensors, etc.), data acquisition systems, and analyzers. These components are essential for the core functionality of structural health monitoring systems, leading to substantial initial costs. Continuous advancements in sensor technology including the development of more accurate, durable, and miniaturized sensors drive the demand for new and replacement hardware. Innovations in hardware significantly impact the market by improving the overall performance of structural health monitoring systems.

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Based on end-use industry, the civil infrastructure segment will hit USD 3 billion by 2032 and is expected to register a CAGR of over 10% during 2024 to 2032. Many countries, especially in developed regions including North America and Europe, have extensive aging infrastructure such as bridges, tunnels, dams, and buildings. The need to monitor and maintain these structures to prevent failures and ensure safety fuels the demand for structural health monitoring systems.

Governments worldwide are increasingly implementing stringent regulations and policies to ensure the safety and maintenance of public infrastructure. Large-scale government investments and initiatives in infrastructure projects further boost the demand for structural health monitoring solutions in this segment. Ensuring the safety of civil infrastructure is critical for public safety. SHM systems facilitate the early detection of structural issues, enabling preventive maintenance and reducing the risk of catastrophic failures, which is a key priority for public authorities.

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Asia Pacific region captured about 40% share of the structural health monitoring market in 2023. Many countries in the region including China, India, Japan, and South Korea are undergoing rapid urbanization and significant infrastructure development. The construction of new bridges, highways, skyscrapers, and other critical infrastructure boosts the demand for structural health monitoring systems to ensure safety and durability. Governments in the region are investing heavily in infrastructure projects and are becoming aware of the importance of maintaining structural integrity. Initiatives, such as China’s Belt and Road Initiative (BRI) and India’s Smart Cities Mission, highlight the importance of structural health monitoring technologies in large-scale infrastructure projects.

Structural Health Monitoring Market Share

Siemens AG and Nova Metrix LLC hold a significant share of over 10% in the structural health monitoring industry. Siemens AG, a global powerhouse in electrical engineering and electronics, offers comprehensive structural health monitoring solutions through its subsidiary, Siemens Digital Industries Software. The company's products include advanced sensor technologies, data acquisition systems, and sophisticated analytics software designed to monitor and assess the health of various infrastructure types.

Nova Metrix LLC is a provider of structural health monitoring solutions, specializing in high-precision sensors and data acquisition systems. The company offers a wide range of structural health monitoring products that cater to diverse applications including the civil infrastructure, aerospace, and energy sectors. Nova Metrix’s portfolio includes strain gauges, accelerometers, displacement sensors, and comprehensive monitoring systems that ensure the safety and performance of structures.

Structural Health Monitoring Market Companies

Major key players operating in the structural health monitoring industry are

• Siemens AG
• Nova Metrix LLC
• COWI A/S
• Acellent Technologies, Inc.
• Geocomp Corporation
• Campbell Scientific, Inc.
• Digitexx Data Systems, Inc.

Structural Health Monitoring Industry News

• In June 2023, Campbell Scientific and the Royal Netherlands Meteorological Institute (KNMI) partnered to enhance the surface observation system in the Netherlands. This collaboration aims to improve the accuracy and reliability of weather data collection through the deployment of advanced sensors and data acquisition systems provided by Campbell Scientific.

This structural health monitoring market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) from 2021 to 2032, for the following segments

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Market, By Offering

• Hardware
• Software
• Service

Market, By Type

• Wired SHM systems
• Wireless SHM systems
• Others

Market, By Technology

• Fiber optic
• Acoustic emission
• Ultrasound
• Thermography
• Others

Market, By End Use

• Civil infrastructure
• Aerospace & defense
• Energy
• Mining
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA