Authored By: Sarah
20 Nov 2023

 Increasing need for infrastructure maintenance and safety and expansion of smart cities is boosting the Structural Health Monitoring Market into USD 1.99 Bn sector |Forecast for 2023-2027|Technavio

Increase in smart city development and the growing requirement for infrastructure safety and maintenance are expected to fuel a steady increase in the structural health monitoring market. By 2027, the market is projected to have grown by USD 1.99 billion at a compound annual growth rate of 14.1%.

Real-time information on the state of infrastructure is provided by structural health monitoring systems, which aid in the early detection and resolution of such issues before they become costly or dangerous.

Leading market players supporting this market development are Campbell Scientific Inc., CGG SA, COWI Holding AS, Digitexx Systems Ltd., Geosense Ltd., Hottinger Bruel and Kjaer GmbH,James Fisher and Sons Plc, LiveHooah Technologies Pvt. Ltd., MachineSense LLC, Mistras Group Inc.,etc.

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Snapshot of Structural Health Monitoring Market Analysis


However, rise in budgetary constraints and highly saturated market are expected to hinder the growth of the market. However, advent of IoT in structural health monitoring and rising focus on big data analytics will have a positive impact on the structural health monitoring market during the forecast period.

 
Technavio’s recent analysis of structural health monitoring market, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities along with detailed  study of the market segments  in North America, Europe, Asia, and Rest of World (ROW), geographically.during the forecast period. Learn more about the market dynamics and the aspects that our report's in-depth analysis predicts will have the biggest impact on the market under review.

Technavio’s analysis of the Structural Health Monitoring Market also includes:

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive structural health monitoring market growth during the next five years
  • Precise estimation of the structural health monitoring market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the structural health monitoring market industry across 
  • A thorough analysis of the market’s competitive landscape
  • Comprehensive details of factors that will challenge the growth of structural health monitoring market.
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