Latest News- Structural Health Monitoring Market: Hardware is expected to lead the Component segment during 2025-2029

The Structural Health Monitoring Market is being driven by Increasing need for infrastructure maintenance and safety

The Structural Health Monitoring Market is expected to grow at a CAGR of 20% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 4130.4 million. The structural health monitoring market has experienced significant growth due to technological innovations leading to increased demand for smart facilities management solutions. IoT and Industry 4.0 have gained traction in this market, with IoT networks incorporating sensors, thermostats, and actuators for data collection and evaluation. These technologies facilitate predictive maintenance, resulting in reduced operational costs and enhanced productivity. Furthermore, IoT enables proactive maintenance scheduling, ensuring optimal performance and longevity of devices and machinery. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Hardware
  • Software
  • Services
• Connectivity
  • Wired
  • Wireless
• Application
  • Civil infrastructure
  • Aerospace
  • Energy
  • Defense
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing need for infrastructure maintenance and safety
• Expansion of smart cities
• Growing focus on sustainability and environmental conservation

However, the market also witnesses some limitations, which are as follows:

• Rise in budgetary constraints
• Highly saturated market
• Regulatory challenges related to structural health monitoring

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Market Scope in Structural Health Monitoring Market Research Report

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Research Analysis Overview

The Structural Health Monitoring (SHM) market focuses on ensuring the structural integrity of infrastructure through advanced monitoring systems. These systems enable remote condition assessment, performance prediction, and structural analysis using techniques like vibration monitoring, strain measurement, load monitoring, corrosion detection, and damage identification. SHM employs structural modeling, finite element analysis, data visualization, alert systems, maintenance optimization, asset management, and life cycle analysis for infrastructure resilience. Smart infrastructure, infrastructure modernization, and infrastructure investment are key drivers, with technologies such as data science, cloud computing, edge computing, sensor networks, wireless sensor networks, data fusion, signal processing, pattern recognition, and deep learning playing crucial roles in enhancing SHM capabilities. The intersection of material science, structural engineering, civil engineering, and data science propels the development of innovative SHM solutions for infrastructure safety and quality control in construction management and structural design.

Market Research Overview

The Structural Health Monitoring (SHM) market is experiencing significant growth due to the increasing adoption of sensor technologies, data analytics, wireless communication, IoT, big data, artificial intelligence, and machine learning in the construction and engineering industry. These advanced technologies enable early detection of potential structural failures and natural disasters, thereby enhancing disaster preparedness and ensuring public safety. SHM market participants offer installation services for smart sensors and real-time data collection systems, which facilitate advanced data analytics and structural assessments. The global construction and engineering market, comprising engineering service providers and EPC contractors in the non-residential sector, is expected to grow due to increasing investment in urban infrastructure, necessitating the need for reliable and efficient SHM solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/