Structural Health Monitoring Market by Component: Global Opportunity Analysis and Industry Forecast, 2017-2023

  • ID: 4368937
  • Report
  • Region: Global
  • 201 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • Advitam Inc.
  • COWI A/S
  • Geocomp Corporation.
  • Kinemetrics Inc.
  • Nova Metrix LLC.
  • MORE
Structural health monitoring (SHM) is one of the new and improved methods to perform non-destructing evaluation. It is defined as the use of in-site and non-destructive sensing with analysis of structural characteristics to identify the location of the damage and evaluate its severity to observe the effects on the residual life of the structure. The global structural health monitoring market is driven by increase in construction activities and growth in need for continuous monitoring of the structure. SHM involves the integration of sensors, smart materials, data transmission, computational power, and processing ability inside the structures.

The global structural health monitoring market is segmented based on component, connectivity, end user, and geography. Based on component, the market is classified into hardware, software, and services. The hardware segment is further categorized into sensors, data acquisition systems (DAS), and others. The hardware segment accounted for dominant share of the market in 2016, and is expected to maintain this trend during the forecast period. The services segment in structural health monitoring industry is expected to grow at highest CAGR from 2017 to 2023.

Based on connectivity, the structural health monitoring market is bifurcated into wired systems and wireless systems. Based on end users, it is categorized into civil, aerospace, defense, energy, mining, and others. The civil segment is further classified into tunnels, dams, stadiums, and others. SHM has become an important tool for monitoring large and complex civil structures. Emerging legislations, increasing social pressures, and the changes in the contractual relationships between builder and users drive the demand for SHM in civil infrastructures. The aerospace industry is estimated to be the fastest growing end user in the structural health monitoring market, growing at a CAGR of 21.2% from 2017 to 2023.

Geographically, the structural health monitoring market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Key companies profiled in the report include National Instruments Corporation, Advitam Inc., Digitexx Data Systems, Inc., Acellent Technologies, Inc., Nova Metrix LLC., COWI A/S, Geocomp Corporation, Hottinger Baldwin Messtechnik GmbH, Strainstall UK Limited, and Kinemetrics Inc.

KEY BENEFITS

This report provides an in-depth analysis of the global structural health monitoring market to identify the potential investment pockets.
It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.

Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.
Quantitative analysis of the structural health monitoring market from 2016 to 2023 is highlighted to recognize the financial competency of the market.
Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.

KEY MARKET SEGMENTS

BY COMPONENT

Hardware
Data Acquisition Units
Sensors
Others
Software
Services

BY CONNECTIVITY

Wired
Wireless

BY END USER

Civil
Tunnels
Dams
Stadiums
Others
Aerospace
Defense
Energy
Mining
Others

BY GEOGRAPHY

North America
U.S.
Canada
Mexico
Europe
UK
Italy
Germany
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

KEY MARKET PLAYERS

National Instruments Corporation
Advitam Inc.
Digitexx Data Systems, Inc.
Acellent Technologies, Inc.
Strainstall UK Limited(James Fisher & Sons PLC.)
Nova Metrix LLC.
COWI A/S
Geocomp Corporation.
Hottinger Baldwin Messtechnik GmbH
Kinemetrics Inc.
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Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • Advitam Inc.
  • COWI A/S
  • Geocomp Corporation.
  • Kinemetrics Inc.
  • Nova Metrix LLC.
  • MORE
CHAPTER 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

CHAPTER 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top winning strategies
3.2.3. Top investment pockets

3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET SHARE ANALYSIS, 2015
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Increased focus on structural health monitoring
3.5.1.2. Obsolete infrastructure in Europe and North America
3.5.1.3. Obsolete aircraft of domestic & international airlines
3.5.1.4. Reduction of inspection costs
3.5.1.5. Frequent occurrences of natural calamities

3.5.2. Restraints

3.5.2.1. High implementation cost
3.5.2.2. Challenges pertaining to data normalization

3.5.3. Opportunities

3.5.3.1. Growth in investments in infrastructure
3.5.3.2. Advances in wireless sensor networks

CHAPTER 4 GLOBAL STRUCTURAL HEALTH MONITORING MARKET, BY COMPONENT

4.1. OVERVIEW
4.2. HARDWARE

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size & forecast

4.2.3.1. Data acquisition units
4.2.3.2. Sensors
4.2.3.3. Others

4.3. SOFTWARE

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size & forecast

4.4. SERVICES

4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size & forecast

CHAPTER 5 STRUCTURAL HEALTH MONITORING MARKET, BY CONNECTIVITY

5.1. OVERVIEW
5.2. WIRED

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size & forecast

5.3. WIRELESS

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size & forecast

CHAPTER 6 STRUCTURAL HEALTH MONITORING MARKET, BY END USER

6.1. OVERVIEW
6.2. CIVIL

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size & forecast

6.2.3.1. Tunnels
6.2.3.2. Dams
6.2.3.3. Stadiums
6.2.3.4. Others

6.3. AEROSPACE

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size & forecast

6.4. DEFENSE

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size & forecast

6.5. ENERGY

6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size & forecast

6.6. MINING

6.6.1. Key market trends
6.6.2. Key growth factors and opportunities
6.6.3. Market size & forecast

6.7. OTHERS

6.7.1. Key market trends
6.7.2. Key growth factors and opportunities
6.7.3. Market size & forecast

CHAPTER 7 STRUCTURAL HEALTH MONITORING MARKET, BY GEOGRAPHY

7.1. OVERVIEW
7.2. NORTH AMERICA

7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size & forecast

7.2.3.1. U.S.
7.2.3.2. Canada
7.2.3.3. Mexico

7.3. EUROPE

7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size & forecast

7.3.3.1. UK
7.3.3.2. Germany
7.3.3.3. Italy
7.3.3.4. France
7.3.3.5. Rest of Europe

7.4. ASIA-PACIFIC

7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size & forecast

7.4.3.1. China
7.4.3.2. India
7.4.3.3. Japan
7.4.3.4. Rest of Asia-Pacific

7.5. LAMEA

7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. Market size & forecast

7.5.3.1. Latin America
7.5.3.2. Middle East
7.5.3.3. Africa

CHAPTER 8 COMPANY PROFILES

8.1. NATIONAL INSTRUMENTS CORPORATION

8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Product portfolio
8.1.5. Key strategic moves & developments, 2014-2016

8.2. ADVITAM INC.

8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio

8.3. DIGITEXX DATA SYSTEMS, INC.

8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Product portfolio
8.3.5. Key strategic moves & developments, 2014-2016

8.4. ACELLENT TECHNOLOGIES, INC.

8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Business performance

8.5. STRAINSTALL UK LIMITED (JAMES FISHER & SONS PLC.)

8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.5.5. Key strategic moves & developments, 2014-2016

8.6. NOVA METRIX LLC.

8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Product portfolio
8.6.5. Business performance

8.7. COWI A/S

8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.7.5. Business performance
8.7.6. Key strategic moves & developments, 2014-2016

8.8. GEOCOMP CORPORATION

8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Business performance
8.8.5. Key strategic moves and developments

8.9. HOTTINGER BALDWIN MESSTECHNIK GMBH

8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio

8.10. KINEMETRICS INC.

8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Product portfolio
8.10.5. Business performance
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FEATURED COMPANIES

  • Advitam Inc.
  • COWI A/S
  • Geocomp Corporation.
  • Kinemetrics Inc.
  • Nova Metrix LLC.
  • MORE
According to a new report titled, Structural Health Monitoring Market by Component, Connectivity, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023", the global structural health monitoring market size was valued at $1,133 million in 2016, and is projected to reach $3,965 million by 2023, growing at a CAGR of 18.9% from 2017 to 2023. The civil industry accounted for nearly half of the total structural health monitoring market in 2016.

Structural health monitoring (SHM) is a process aimed at providing accurate and timely information about the condition and performance of a building structure. It can either be a short- or a long-term process. In developing countries, such as China and India, owing to negligence and non-availability of technology, SHM is not utilized to its full potential. However, imposition of stringent government regulations on safety standards of civil infrastructures provides a major opportunity for SHM market in these countries.

Factors that drive the growth of the global structural health monitoring market are rapid increase in construction activities and the growth in need for continuous monitoring of the structure. In addition, growth in infrastructure investments and advances in wireless sensor networks provides opportunities for the global structural health monitoring market. However, high implementation cost and challenges concerning data normalization are some of the factors that restrain the structural health monitoring market growth.

The hardware segment in the global structural health monitoring market generated the highest revenue in 2016, and is expected to maintain its dominance throughout the analysis period, owing to high adoption of sensors for accurate and reliable data. Data loggers used in SHM are compatible with all types of commercially available sensors and the selection of a particular type of sensor is highly application specific.

Civil industry in the structural health monitoring industry generated highest revenue in the global structural health monitoring market in 2016. The major demand for SHM from civil structures is obtained, owing to high demand from oil industry and operators of large dams and highways agencies. In comparison to infrastructures, residential, and commercial construction have received little consideration due to lack of awareness among the owners. Building owners are educated on the benefits of SHM and these measures are supported by several government regulations. The increase in demand for SHM in civil engineering drives the need of SHM to ensure safety of the structures and the human lives. SHM is capable of earlier detection of the damage, which makes it feasible to amend it before occurrence of loss.

Wired technology dominated the global structural health monitoring market, accounting for more than 50% share, in 2016, which is the most conventional approach in the SHM market. Wired SHM is significantly losing its share to wireless SHM during the last few years, owing to the high cost input due to usage of wiring.

Key Findings of the Structural Health Monitoring Market:

In terms of value, the services segment is anticipated to register highest growth rate during the analysis period.
Sensors generated the highest revenue in 2016.
Aerospace sector is anticipated to grow at the highest rate by 2023.
North America is projected to maintain its lead position throughout 2023 and is expected to grow at a CAGR of 18.5%, in terms of value.
U.S. occupied two-thirds of the total North America market in 2016.
Asia-Pacific is expected to grow at a CAGR of 21.6% from 2017 to 2023.
The growth in infrastructure activities in the developing countries, such as China and India, and surge in government regulations propel the market growth for Asia-Pacific.

The key companies profiled in the report include National Instruments Corporation, Advitam Inc., Digitexx Data Systems, Inc., Acellent Technologies, Inc., Nova Metrix LLC., COWI A/S, Geocomp Corporation, Hottinger Baldwin Messtechnik GmbH, Strainstall UK Limited, and Kinemetrics Inc.
Note: Product cover images may vary from those shown
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  • National Instruments Corporation
  • Advitam Inc.
  • Digitexx Data Systems, Inc.
  • Acellent Technologies, Inc.
  • Strainstall UK Limited(James Fisher & Sons PLC.)
  • Nova Metrix LLC.
  • COWI A/S
  • Geocomp Corporation.
  • Hottinger Baldwin Messtechnik GmbH
  • Kinemetrics Inc.
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
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