Structural Health Monitoring (SHM) Systems Market Is Likely to Experience a Strong Growth During 2021-2026

Stratview Research has recently published a report on Structural Health Monitoring (SHM) Systems Market segmented by Solution (Hardware [Sensors, Data Acquisition Systems, Others], Software & Services), By Application (Bridges & Dams, Buildings & Stadiums, Vessels & Platforms, Airframes & Wind Turbines, Large Machines & Equipment), By Technology (Wired, Wireless) and Region. The objective of the market experts at Stratview Research is to conduct a thorough analysis of the ‘Structural Health Monitoring (SHM) Systems Market’ and put a detailed knowledge about the industry and business attractiveness, revenue, market size, segmentation, growth and restraining factors so that the user gets in depth information about the industry and the business from a past, current and a future perspective and can potentially invest capital for further growth.

Additionally, the report covers a variety of established and emerging start-ups and organisations operating in the industry. As a result, the report provides a comparative analysis by presenting the user with various aspects of the markets discussed in the report.

Covid-19 Analysis –

Nationwide lockdowns have impacted, and halted productions, supply of raw materials sourcing disruption has affected the balance in the supply of finished products. This report aims to cover all the aspects of how the pandemic has affected the business in the Structural Health Monitoring (SHM) Systems Market and how has the subsequent lockdowns inflamed the industry scenario and what are the areas that needs urgent action and re-planning.

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Segment-wise analysis

The report encompasses in-depth segmentations like regional segmentation, segmentation by product types, application-wise segmentation, geographical segmentation and thereby gives the user an overview of the effectiveness of the segmentation by various classes.

Solution Trends

On the basis of solution, the global Structural Health Monitoring (SHM) systems market has been bifurcated into hardware and software & services.

Among these, the hardware segment accounted for the highest market share in 2020 and is likely to register a steady CAGR during the review period. This is mainly attributed to the significant cost of integral elements of SHM systems such as sensors and data acquisition systems.

Regional Trends

By region, the North American market witnessed the highest market share in 2020 and is projected to grow at a robust CAGR during the review period.

This can be attributed to rapidly aging infrastructures such as dams, buildings, bridges, and tunnels in the region which is stirring up the demand for structural health monitoring systems. Thus, to improve structural lifespan and enhance public safety, the installation of these systems is needed, which further boosts regional growth.

Market Insights

The Global Structural Health Monitoring (SHM) Systems Market is projected to grow at a CAGR of over 7.4% during the forecast period.

Key Players in the Structural Health Monitoring (SHM) Systems Market

Acellent Technologies (The U.S), Campbell Scientific, Inc. (The U.S), COWI A/S (Denmark), Digitexx (Vietnam), Geocomp Corporation (The U.S), Geokon, Incorporated (The U.S); GeoSIG Ltd. (Switzerland), HBM (Germany), James Fisher and Sons plc (UK), and Kinemetrics (The U.S).

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