Global Structural Health Monitoring Market 2024–2033

Reports Description

As per the current market research conducted by CMI Team, the global Structural Health Monitoring Market is expected to record a CAGR of 15% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 1874.89 million. By 2032, the valuation is anticipated to reach USD 4815.76 million.

Structural Health Monitoring (SHM) refers to the process of monitoring the condition and performance of structures such as buildings, bridges, dams, tunnels, and other infrastructure assets. It involves the use of various sensing technologies, data acquisition systems, and analysis techniques to continuously or periodically assess the structural integrity, detect damage or deterioration, and evaluate the safety and reliability of the structure.

The SHM market encompasses a range of technologies and solutions aimed at ensuring the optimal functioning and maintenance of structures throughout their lifecycle. These include:

• Sensors and Instrumentation: SHM systems use a variety of sensors such as strain gauges, accelerometers, displacement sensors, temperature sensors, and pressure sensors to collect data related to structural behavior.
• Data Acquisition Systems: These systems capture and record data from the sensors in real-time or periodically. They can include wired or wireless networks, data loggers, and signal conditioning devices.
• Structural Analysis and Modeling: SHM relies on advanced algorithms and models to analyze the collected data, assess the structural condition, and predict potential failures or performance issues. This may involve techniques like finite element analysis, statistical analysis, and machine learning.
• Damage Detection and Localization: SHM systems aim to identify and localize any damage or structural anomalies that may occur due to factors such as aging, fatigue, corrosion, or external events like earthquakes. This helps in early detection and preventive maintenance.
• Maintenance and Decision Support Systems: SHM data is used to make informed decisions regarding maintenance, repair, and retrofitting strategies. It enables asset owners and operators to optimize maintenance schedules, prioritize repairs, and extend the lifespan of structures.

Structural Health Monitoring Market – Significant Growth Factors

The Structural Health Monitoring (SHM) market offers significant growth opportunities due to several factors:

• Increasing Infrastructure Investments: Governments and private entities worldwide are investing heavily in infrastructure development and maintenance. SHM plays a crucial role in ensuring the safety, reliability, and longevity of these structures. As infrastructure projects expand, the demand for SHM technologies and solutions will also grow.
• Aging Infrastructure: Many existing structures, such as bridges, dams, and buildings, are aging and require continuous monitoring to detect potential structural issues. SHM enables proactive maintenance, minimizing the risk of failures and extending the lifespan of these assets. Upgrading and retrofitting aging infrastructure presents a significant market opportunity for SHM providers.
• Focus on Safety and Risk Mitigation: Safety is a paramount concern in engineering and construction. SHM helps in the early detection of damage, structural deterioration, and potential risks, enabling timely intervention and preventive measures. The growing emphasis on safety regulations and risk mitigation strategies across industries is driving the adoption of SHM solutions.
• Technological Advancements: The SHM industry benefits from continuous advancements in sensor technologies, data analytics, wireless communication, and artificial intelligence. These advancements enhance the accuracy, efficiency, and reliability of SHM systems, opening up new possibilities for monitoring complex structures and analyzing large volumes of data.
• Increasing Demand in Multiple Sectors: SHM finds applications across various sectors, including civil infrastructure, aerospace, energy, transportation, and defense. Each sector presents unique challenges and requirements for structural monitoring. The diversification of applications expands the market potential for SHM providers, catering to different industry needs.
• Cost Savings and Operational Efficiency: SHM helps optimize maintenance strategies by enabling condition-based maintenance rather than relying on fixed schedules. This approach reduces unnecessary maintenance costs, minimizes downtime, and maximizes the operational efficiency of structures. Industries are increasingly recognizing the economic benefits of implementing SHM systems, driving market growth.
• Regulatory Mandates and Standards: Governments and regulatory bodies are introducing stricter regulations and standards for structural safety and maintenance. Compliance with these regulations necessitates the implementation of SHM technologies. This factor acts as a catalyst for market growth, as organizations strive to meet the required standards.
• Data-Driven Decision-Making: SHM generates vast amounts of data that can be analyzed to derive actionable insights for asset management and decision-making. The integration of data analytics, machine learning, and predictive modeling allows for more informed decision-making, optimizing maintenance strategies and asset performance. The growing importance of data-driven approaches further fuels the demand for SHM solutions.

Overall, the Structural Health Monitoring market is poised for significant growth due to the increasing demand for safety, infrastructure investments, technological advancements, and the need for cost-effective maintenance strategies. The market offers lucrative opportunities for companies providing SHM solutions and services across various industries.

Structural Health Monitoring Market – Mergers and Acquisitions

The Structural Health Monitoring (SHM) market has witnessed several mergers and acquisitions (M&A) activities as companies seek to expand their capabilities, enhance their market presence, and leverage synergies. Some notable M&A events in the SHM market include:

• Nova Metrix LLC Acquisition of RST Instruments: In 2018, Nova Metrix LLC, a leading provider of monitoring solutions, acquired RST Instruments, a manufacturer of geotechnical and structural monitoring instruments. This acquisition expanded Nova Metrix’s product portfolio and strengthened its position in the SHM market.

• COWI Acquisition of Donaldson Associates: In 2019, COWI, a global engineering and consulting firm, acquired Donaldson Associates, a specialist in structural monitoring and assessment. The acquisition enhanced COWI’s expertise in SHM, enabling them to offer comprehensive solutions for structural integrity management.

• Geocomp Acquisition of ETC: Geocomp, a geotechnical engineering firm, acquired ETC, a provider of structural monitoring solutions, in 2019. This acquisition added ETC’s expertise in real-time monitoring and data analysis to Geocomp’s capabilities, strengthening its position in the SHM market.

• Acellent Technologies Acquisition by Lord Corporation: In 2019, Lord Corporation, a diversified technology and manufacturing company, acquired Acellent Technologies, a leader in SHM solutions. This acquisition enabled Lord Corporation to enhance its offerings in aerospace, defense, and industrial applications.

• Advitam Group Acquisition of Senceive: In 2020, Advitam Group, a provider of IoT solutions for infrastructure monitoring, acquired Senceive, a leading wireless monitoring technology company. This acquisition strengthened Advitam Group’s position in the SHM market and expanded its portfolio of wireless monitoring solutions.

• Nova Metrix LLC Acquisition of Vallen Systeme: In 2021, Nova Metrix LLC acquired Vallen Systeme, a German manufacturer of monitoring systems. This acquisition added Vallen Systeme’s expertise in acoustic emission and structural health monitoring technologies to Nova Metrix’s product offerings.

These are just a few examples of M&A activities in the SHM market. The consolidation of companies through mergers and acquisitions allows for the exchange of expertise, technology, and resources, leading to improved product offerings, expanded market reach, and accelerated innovation. It enables companies to provide comprehensive solutions and better serve the evolving needs of the SHM market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Structural Health Monitoring Market – Significant Threats

While the Structural Health Monitoring (SHM) market offers significant growth opportunities, there are also certain threats that could impact its development. Some of the significant threats in the SHM market include:

• High Implementation Costs: The initial costs associated with implementing SHM systems can be substantial, including the installation of sensors, data acquisition systems, and the required infrastructure. This cost barrier may discourage some organizations from adopting SHM, especially smaller firms or those with limited budgets.

• Lack of Awareness and Education: Many industry professionals and stakeholders may have limited knowledge or understanding of the benefits and capabilities of SHM. This lack of awareness can hinder the adoption of SHM technologies, as decision-makers may not prioritize or invest in structural monitoring solutions.

• Resistance to Change: Implementing SHM systems often requires organizations to change their traditional maintenance practices and adopt new approaches. Resistance to change can arise from factors such as organizational culture, limited understanding of the technology, and concerns about operational disruptions. Overcoming this resistance and promoting the adoption of SHM can be a challenge.

• Data Management and Interpretation Challenges: SHM systems generate large volumes of data, and effectively managing, analyzing, and interpreting this data can be complex. Organizations may struggle to develop robust data management strategies and possess the necessary expertise to extract meaningful insights from the collected data. Insufficient data analysis capabilities can hinder the effectiveness of SHM systems.

• Cybersecurity Risks: SHM systems rely on interconnected sensors, networks, and data storage systems, making them potentially vulnerable to cybersecurity threats. Unauthorized access, data breaches, or malicious attacks on the SHM infrastructure can compromise the integrity and reliability of the monitoring data. Ensuring robust cybersecurity measures is critical to maintaining the trust and effectiveness of SHM solutions.

• Standardization and Regulatory Compliance: The absence of standardized protocols and guidelines for SHM can create challenges in terms of data comparison, interoperability, and industry-wide acceptance. A lack of standardization can hinder collaboration among different stakeholders and limit the scalability of SHM solutions. Additionally, compliance with evolving regulatory requirements can pose challenges for SHM providers and end-users.

• Limited Scalability and Adaptability: Some SHM technologies may have limitations when it comes to scalability or adaptability to different types of structures or environments. Certain monitoring techniques may be more suitable for specific applications, and expanding their use to other contexts can be challenging. Ensuring that SHM solutions are versatile and scalable across diverse infrastructure projects is essential.

Addressing these threats requires concerted efforts from industry stakeholders, including technology providers, regulatory bodies, and educational institutions. Overcoming cost barriers, raising awareness, promoting standardized practices, and improving data management capabilities can help mitigate these threats and foster the continued growth of the SHM market.

Report Scope

Category-Wise Insights

Solution Insights

The Structural Health Monitoring (SHM) market can be categorized into hardware and software & services based on solutions. In 2022, the hardware segment dominated the market in terms of revenue. This can be attributed to the significant cost associated with integral elements of SHM systems, such as sensors and data acquisition systems.

To adequately cover structures like buildings, dams, bridges, stadiums, and airframes, a large number of hardware components need to be installed. Among the different types of hardware solutions, sensors are projected to be a major revenue contributor in the market. The market benefits from advancements in sensor technologies and the increasing utilization of smart materials and smart structures embedded with sensors. These factors contribute to the overall growth of the SHM market.

Technology Insights

The Structural Health Monitoring (SHM) market can be divided into wired and wireless SHM based on technology. In 2022, the wired segment held a larger share of the market. Wired systems are widely adopted for continuous monitoring of various types of structures due to their reliable connectivity and the absence of limitations on long-distance data transfer. These wired SHM systems are already in use worldwide for assessing structures such as buildings, dams, and bridges in different countries.

On the other hand, wireless SHM systems are expected to witness a significant growth rate, with a projected CAGR of 18.2% over the forecast period. Wireless SHM has emerged as a transformative technology that will have a substantial impact on the field of structural monitoring and infrastructure asset management.

The adoption of wireless systems offers advantages such as ease of installation, scalability, and the ability to monitor hard-to-reach locations. These factors contribute to the growth and the increasing importance of wireless SHM in the market.

Application Insights

The SHM market can be segmented based on applications, including buildings & stadiums, bridges & dams, airframes & wind turbines, vessels & platforms, and large machines & equipment. In 2022, bridges & dams accounted for over 36.0% of the total revenue.

The need for structural health monitoring systems in bridges and dams is driven by several factors. For instance, according to the U.S. Department of Transportation (DOT) data from 2014, there were more than 62,000 structurally deficient bridges across the country that required extensive monitoring and inspection for maintenance and repair work.

This highlights the significant demand for structural health monitoring systems in the bridge sector. Similarly, in other regions around the world, the increasing number of functionally obsolete and structurally deficient bridges creates a substantial need for structural health monitoring systems to monitor and inspect the condition of these structures.

The application of SHM in bridges and dams is crucial for ensuring their structural integrity, identifying potential issues or deterioration, and facilitating timely maintenance and repair activities. The growing focus on infrastructure safety and the need for cost-effective asset management drive the demand for SHM systems in the bridges and dams segment.

Structural Health Monitoring Market – Regional Analysis

North America: In 2022, North America dominated the Structural Health Monitoring (SHM) market, accounting for the largest revenue share of 37.1%.

The demand for SHM systems in North America is driven by several factors. Firstly, there is increased attention from the government toward civil infrastructure repair and maintenance, leading to a higher demand for SHM solutions. Secondly, the aging infrastructure in the region necessitates the implementation of SHM systems to ensure the safety and longevity of structures.

Furthermore, governments in North America are making increased investments in infrastructure development, further boosting the demand for SHM technologies.

The United States and Canada, in particular, are relying more on SHM systems to protect the safety and security of structures and the people who use them. The aging infrastructure in North America and Europe has prompted civil infrastructure projects such as bridges, dams, and tunnels to adopt SHM methods to monitor the structural health of these assets.

The market dominance of North America in the SHM industry can be attributed to these factors, along with the presence of key market players, technological advancements, and the region’s focus on infrastructure safety and maintenance.

Asia Pacific: Asia Pacific is expected to have the highest compound annual growth rate (CAGR) over the forecast period in the Structural Health Monitoring Market.

The region is witnessing significant expansion in infrastructure projects, including bridges, power plants, and smart cities, which is driving the demand for SHM solutions. Countries such as China, India, and others are making substantial investments in infrastructure development, including bridges and buildings, to support economic growth. Rapid urbanization and the need for high-quality infrastructure are the primary drivers for the expansion of the SHM market in the Asia Pacific.

The region’s growing population and urban areas necessitate the development of robust infrastructure systems. To ensure the safety, reliability, and longevity of these structures, structural health monitoring systems are becoming increasingly prominent. The surge in civil infrastructure projects in the Asia Pacific creates a high demand for structural health monitoring systems to monitor and maintain the condition of each structure and prevent potentially catastrophic failures.

The implementation of SHM systems can help detect early signs of damage or deterioration, enabling timely maintenance and preventing major incidents. With the increasing focus on infrastructure development and urbanization in Asia Pacific, the demand for SHM solutions is expected to grow significantly, driving the market’s growth in the region.

Competitive Landscape – Structural Health Monitoring Market

The competitive landscape of the Structural Health Monitoring (SHM) market is characterized by the presence of several key players offering a wide range of solutions and services. These players compete in terms of product offerings, technological advancements, market reach, and customer support. Some of the prominent companies operating in the SHM market include:

• Cowi A/S: Cowi is a global engineering consulting firm that provides a range of services, including structural health monitoring. They offer solutions for monitoring the structural behavior of various infrastructure projects.
• Acellent Technologies, Inc.: Acellent Technologies specializes in structural health monitoring solutions for aerospace, civil engineering, and other industries. Their products include embedded sensors and data analysis software.
• Digitexx Data Systems, Inc.: Digitexx Data Systems is known for its expertise in structural health monitoring and nondestructive testing technologies. They offer monitoring solutions for bridges, buildings, wind turbines, and other structures.
• Nova Metrix LLC: Nova Metrix is a leading provider of monitoring solutions for civil, geotechnical, and structural applications. They offer a wide range of sensors, data acquisition systems, and analysis software.
• National Instruments Corporation: National Instruments is a well-known technology company offering various industries hardware and software solutions. They provide tools for structural health monitoring, including data acquisition systems and analysis software.
• Kinemetrics, Inc.: Kinemetrics specializes in earthquake monitoring and structural health monitoring solutions. They offer a range of sensors, accelerometers, and data analysis software for monitoring the integrity of structures.
• Strainstall UK Ltd.: Strainstall is a global leader in structural monitoring and load measurement solutions. They provide sensors, monitoring systems, and data analysis software for applications such as bridges, buildings, and offshore structures.
• Hottinger Baldwin Messtechnik GmbH (HBM): HBM is a renowned provider of measurement and testing solutions. They offer sensors, data acquisition systems, and software for structural health monitoring and structural analysis.
• Geocomp Corporation: Geocomp specializes in geotechnical and structural instrumentation, monitoring, and consulting services. They offer solutions for monitoring the behavior of underground structures, tunnels, and embankments.
• RST Instruments Ltd.: RST Instruments is a leading geotechnical and structural monitoring instrument manufacturer. They provide a range of sensors and data acquisition systems for monitoring the performance of structures.

These are just a few examples of the key players in the SHM market. The market is competitive, with companies continually innovating and expanding their offerings to meet the evolving needs of the SHM industry. Partnerships, acquisitions, and collaborations are common strategies employed by these companies to strengthen their market position and enhance their product portfolios.

The Structural Health Monitoring Market is segmented as follows:

By Solution Type

• Hardware (Sensors, Data Acquisition System and Others)
• Software (Design & Analysis, Parameter Identification & Tracking and Others)
• Services (Installation Services , Design & Consulting Services, Operation & Maintenance Services)

By Application Type

• Bridges & Dams
• Building & Stadiums
• Vessels & Platforms
• Airframes & Wind Turbines
• Large Machines & Equipment

By Technology Type

• Wired
• Wireless

By Region

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America