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Structural Health Monitoring Market Trends

  • Report ID: GMI9714
  • Published Date: Jun 2024
  • Report Format: PDF

Structural Health Monitoring Market Trends

The use of IoT technology and smart sensors is becoming more prevalent in structural health monitoring systems. These advancements enable real-time data collection and monitoring, improving the accuracy and efficiency of structural assessments. The application of advanced data analytics, Machine Learning (ML), and AI is transforming the structural health monitoring industry. These technologies enhance predictive analytics for improved estimation of structural issues, optimized maintenance schedules, and extended structure lifespan.
 

The concept of digital twins or virtual replicas of physical structures is gaining traction. Digital twins allow for continuous monitoring and simulation of structural performance, providing valuable insights for maintenance and decision-making. The market is expanding in emerging economies due to rapid urbanization and infrastructure development. Governments and private sectors in these regions are investing in structural health monitoring technologies to ensure the safety and durability of new constructions.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of structural health monitoring was reached USD 3.1 billion in 2023 and is estimated to register over 10% CAGR between 2024 and 2032, owing to the increased investments in infrastructure projects.

The hardware segment in the structural health monitoring market generated over 40% share in 2023, driven by continuous advancements in sensor technology including the development of more accurate, durable, and miniaturized sensors.

Asia Pacific structural health monitoring market recorded over 40% share in 2023, attributed to the rapid urbanization and significant infrastructure development.

Siemens AG, Nova Metrix LLC, COWI A/S, Acellent Technologies, Inc., Geocomp Corporation, Campbell Scientific, Inc., and Digitexx Data Systems, Inc.

Structural Health Monitoring Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 293
  • Countries covered: 21
  • Pages: 250
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