The global structural health monitoring market is anticipated to grow at a CAGR of nearly 16.5% during the forecast period. The construction industry has witnessed a slow transformation to the digitization, and automation of its key processes, such as maintenance, and repair, in recent years. The COVID-19 has significantly hindered the work and productivity of the workers at the construction sites, as the need to execute the contracts under conditions of social distancing and working with limited capacity has resulted in the loss of time and money. Hence, the trend toward the automation and standardization of key processes along with remote working solutions is increasing. The gradual rise of the standardization and automation of maintenance and repair is expected to increase the trend of remotely working, which could be a transformational impact on the construction industryThe standardization and automation of the maintenance and repair of the infrastructure through digitization and the use of smart sensors will allow the solutions to be more adaptive and resilient during uncertain times like the COVID-19 pandemic.
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The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, In January 2019, Cowi acquired Arkitema Architects. Through this acquisition, Cowi aimed at expanding itself making it the largest player in Denmark for the building segment.
Global Structural Health Monitoring Market Report by Segment
By Technology
- Wired Structural Health Monitoring
- Wireless Structural Health Monitoring
By Offering
- Hardware
- Sensors
- Data Acquisition Systems (DAS) and Communication Systems
- Software
- Services
- Others
By End-User Industry
- Civil Infrastructure
- Bridges & Buildings
- Aerospace & Defense
- Energy
- Mining
- Others
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Structural Health Monitoring Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Campbell Scientific Inc.
- FEAC Engineering, Xylem Inc.
- First Sensor AG
- Geomotion Singapore Pte Ltd.
- Geosig Ltd.
- Hottinger Brüel & Kjær
- James Fisher and Sons plc.
- Kinemetrics Inc.
- National Instruments Corp.
- Nova Metrix LLC
- Nova Ventures Group
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