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Structural Health Monitoring Market by Solutions, Technology, End Users and Geography - Global Forecast to 2022

Structural Health Monitoring Market: Global Forecast until 2022

  • January 2017
  • 169 pages
  • ID: 4603859
In this report:
Moreover, there has been tremendous growth in the application of wireless sensor networks; hence, the wireless market is expected to reach USD ##.## million by 2022 at the highest CAGR of ##.##% between 2016 and 2022.
The market for wireless technologies is expected to be valued at USD ##.## million by 2022, growing at the highest CAGR of ##.##% during the forecast period.

Summary

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"The quickly aging infrastructure in North America (NA) and Europe (EU) is predicted to push the structural health monitoring market."

The structural health monitoring market is forecasted to grow from $701.40M in 2015 to $3407.70M by 2022, at a compound annual growth rate of ~25.0 percent between 2016 and 2022. Structural health monitoring solutions improve the performance of the structures including commercial and residential buildings, dams, power plants by providing real-time data about the parameters including strain, structural damage in several structures. Effective monitoring of civil structure helps in prolonging the life of a structure as the information received helps in taking remedial action and providing maintenance whenever a significant structural damage is noticed. The civil infrastructure in the United States has been quickly aging and there is a increasing need to monitor the structural damage for maintenance and reconstruction which is a main driver for the increase ot the structural health monitoring market. The increasing usage of composites in construction of structures is main driver for the rise of structural health monitoring market in the aerospace sector. The high cost of the installation of sensors and other hardware in big structures including bridges and dams could prove to be a main restraining factor for the increase of structural health monitoring market. Nevertheless, the advancement in sensor technologies, increasing usage of smart structures and smart materials with embedded sensors are some of the top future opportunities for rise of structural health monitoring market.

"The structural health monitoring market for aerospace market is anticipated to increase at an important rate owing to high maintenance, repair and overhaul costs."

The structural health monitoring market for the aerospace sector is anticipated to rise at the maximal level rate between 2016 and 2022. The aerospace market, particularly commercial aviation is highly cost sensitive, and MRO activities constitute significant overhead costs. This necessitates the use of enhanced solutions including structural health monitoring to effectively reduce the down time as a result of MRO activities. The increasing usage of structural health monitoring also results in improving the global safety and security through real-time review on the condition of airframe structurtes.

"The structural health monitoring market in Asia-Pac is likely to grow at the highest level rate between 2016 and 2022."

The structural health monitoring market in Asia-Pacific is anticipated to grow at the maximal rate between 2016 and 2022. The quick urbanization, and frequent occurences of natural calamities including earthquakes are the main increase drivers for structural health monitoring market in this area. North America continent is forecasted to hold the biggest share of the structural health monitroing market between 2016 and 2022. The quickly aging infrastructure in the U.S.A, commercialization of structural health monitoring systems in the aerospace sector are some of the main factors driving the increase of the structural health monitoring market in North America (NA).

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions have been managed with main people. The break-up of profile of primary members taking part has been provided below:

• By Company category: Tier 1 - 25.0 percent, Tier 2 - 45.0 percent, and Tier 3 - 30.0 percent

• By Description: C-suite executives - 45.0 percent , Directors - 35.0 percent, and Others - 20.0 percent

• By Area: North America continent - 35.0 percent, EU - 30.0 percent, Asia-Pac - 25.0 percent, and rest of the world - 10.0 percent

Different firms have adopted the strategy of marketing of recent products to rise their share of market. Analysis and development is increasingly conducted to provide comprehensive monitoring solutions, ranging from sensors to software support, to customers. A number of firms have attempted to strengthen their market position by collaborating with different other participants in the value chain. Apart from these dominant strategies, some actors have adopted the approach of mergers and acquisitions to extend their business in the structural health monitoring market.

Segment Research

The structural health monitoring market based on geography has been divided into north america, Europe (EU), Asia Pacific (APAC), and Rest of the globe. Established on solutions, the structural health monitoring market has been categorized into hardware and software and services. The structural health monitoring market based on end users includes civil infrastructure, aerospace, defense, energy, mining, and others. The structural health monitroing market has been split on the basis of technology into wired and wireless structural health monitoring technology.

Main highlights

The market research would benefit the market top players/new sector entrants in the structural health monitoring market in these ways:

1. This document breaks down the structural health monitoring market comprehensively and offers the closest approximations of the global market size and that of the sub-segments across distinct applications and localities.

2. This business report would benefit partners comprehend the pulse of the sector and offer them information on main market drivers, market restraints, opportunities, and alternatives.

3. This industry report would benefit partners to comprehend their players and obtain additional insights to improve their rank in the business sector. The competitive outlook section includes competitor landscape, new industry product developments, alliances, and mergers and acquisitions in the structural health monitoring market.

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