Structural Health Monitoring (SHM) Market Size, Share, Opportunities, And Trends By Type (Wired, Wireless), By Component (Hardware, Software, Services), By Industry Vertical (Civil Infrastructure, Aerospace and Defense, Oil and Gas, Energy and Power, Others), And By Geography - Forecasts From 2023 To 2028

The structural health monitoring (SHM) market is projected to grow at a CAGR of 14.95% over the forecast period. Structural health monitoring is a monitoring technique that aims to provide data regarding structural integrity in real time. SHM helps in regular maintenance and overcomes the costly and ineffective procedure of manual inspection. In addition, the structural integrity could be determined after major disasters and make necessary changes to improve its life expectancy. The development of state-of-the-art IoT solutions and the popularity of this technique are the major factors driving the demand for this technology. However, the high initial cost of setting up the necessary infrastructure will inhibit the growing demand for SHM solutions.

By industry vertical, the global structural health monitoring market has been segmented as civil infrastructure, aerospace and defense, oil and gas, and energy and power among others. Civil infrastructure held a significant market share owing to the deployment of SHM solutions on major infrastructure settings such as bridges, buildings, and dams among many others. The development of cost-effective solutions will boost the demand for SHM solutions in civil infrastructure. The energy and power industry is projected to witness substantial growth throughout the projected period owing to favorable government policies and increasing investment in renewable energy worldwide.

By geography, the global structural health monitoring market has been segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. Each region has been further segmented into major countries of their respective regions. Globally, North America and Europe held a significant market share on account of the early adoption of technology and advancements in the field of cost-effective wireless sensors. Impressive economic growth and the trend of automation will boost the demand for these solutions in the Asia Pacific region. Oil and gas exploration activities require constant monitoring of the subsea structures and this will augment the SHM demand in the Middle East and African region. One of the major factors affecting the growth of this market in the South American region is economic recovery and an increase in overall infrastructure spending.

Major industry players profiled as part of the report are SGS SA, HBM (MEMBER OF SPECTRIS PLC), SAFRAN COLIBRYS SA, CTL GROUP, SENSURON, and OSMOS GROUP SA among others. 

Segmentation

The Structural health monitoring (SHM) market has been analyzed through the following segments:

• By Type

• Wired
• Wireless

 

• By Component

• Hardware
• Software
• Services

 

• By Industry Vertical

• Civil Infrastructure
• Aerospace and Defense
• Oil and Gas
• Energy and Power
• Others

 

• By Geography

• North America

• US
• Canada
• Mexico
• Others

 

• South America

• Brazil
• Argentina
• Others

 

• Europe

• United Kingdom
• Germany
• France
• Italy
• Others

 

• Middle East and Africa

• Israel
• UAE
• Saudi Arabia
• Others

 

• Asia Pacific

• China
• India
• Japan
• South Korea
• Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Currency

1.5. Assumptions

1.6. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Secondary Sources

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

4.1. Market Segmentation

4.2. Market Drivers

4.3. Market Restraints

4.4. Market Opportunities

4.5. Porter’s Five Force Analysis

4.5.1. Bargaining Power of Suppliers

4.5.2. Bargaining Power of Buyers

4.5.3. Threat of New Entrants

4.5.4. Threat of Substitutes

4.5.5. Competitive Rivalry in the Industry

4.6. Life Cycle Analysis - Regional Snapshot

4.7. Market Attractiveness

5. STRUCTURAL HEALTH MONITORING (SHM) MARKET BY TYPE

5.1. Wired

5.2. Wireless

6. STRUCTURAL HEALTH MONITORING (SHM) MARKET BY COMPONENT

6.1. Hardware

6.2. Software

6.3. Services

7. STRUCTURAL HEALTH MONITORING (SHM) MARKET BY END-USER INDUSTRY

7.1. Civil Infrastructure

7.2. Aerospace and Defense

7.3. Oil and Gas

7.4. Energy and Power

7.5. Others

8. STRUCTURAL HEALTH MONITORING (SHM) MARKET BY GEOGRAPHY

8.1. North America

8.1.1. USA

8.1.2. Canada

8.1.3. Mexico

8.1.4. Others

8.2. South America

8.2.1. Brazil

8.2.2. Argentia

8.2.3. Others

8.3. Europe

8.3.1. United Kingdom

8.3.2. Germany

8.3.3. France

8.3.4. Italy

8.3.5. Others

8.4. Middle East and Africa

8.4.1. United Arab Emirates

8.4.2. Israel

8.4.3. Saudi Arabia

8.4.4. Others

8.5. Asia Pacific

8.5.1. China

8.5.2. Japan

8.5.3. India

8.5.4. South Korea

8.5.5. Others

9. COMPETITIVE INTELLIGENCE

9.1.  Market Share of Key Players

9.2.  Recent Investment and Deals

9.3. Strategies of Key Players

10. COMPANY PROFILES

10.1. SGS SA

10.1.1. Company Overview

10.1.2. Financials

10.1.3. Products and Services

10.1.4. Recent Developments

10.2. HBM (MEMBER OF SPECTRIS PLC)

10.2.1. Company Overview

10.2.2. Financials

10.2.3. Products and Services

10.2.4. Recent Developments

10.3. SAFRAN COLIBRYS SA

10.3.1. Company Overview

10.3.2. Financials

10.3.3. Products and Services

10.3.4. Recent Developments

10.4.  CTL GROUP

10.4.1. Company Overview

10.4.2. Financials

10.4.3. Products and Services

10.4.4. Recent Developments

10.5.  SENSURON

10.5.1. Company Overview

10.5.2. Financials

10.5.3. Products and Services

10.5.4. Recent Developments

10.6. OSMOS GROUP SA

10.6.1. Company Overview

10.6.2. Financials

10.6.3. Products and Services

10.6.4. Recent Developments

10.7. STRUCT-SURE

10.7.1. Company Overview

10.7.2. Financials

10.7.3. Products and Services

10.7.4. Recent Developments

10.8. GURALP SYSTEMS LTD

10.8.1. Company Overview

10.8.2. Financials

10.8.3. Products and Services

10.8.4. Recent Developments

10.9. TWI, LTD.

10.9.1. Company Overview

10.9.2. Financials

10.9.3. Products and Services

10.9.4. Recent Developments

10.10. NBG SYSTEMS GmbH

10.10.1. Company Overview

10.10.2. Financials

10.10.3. Products and Services

10.10.4. Recent Developments

LIST OF FIGURES

LIST OF TABLES

 

DISCLAIMER 

SGS SA

HBM (MEMBER OF SPECTRIS PLC)

SAFRAN COLIBRYS SA

CTL GROUP

SENSURON

OSMOS GROUP SA

STRUCT-SURE

GURALP SYSTEMS LTD

TWI, LTD.

NBG SYSTEMS GmbH