Structural Health Monitoring (SHM) Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The Structural Health Monitoring (SHM) Market is estimated to grow at a CAGR of 14% during the forecast period 2022 and 2028.

Structural condition monitoring (SHM) refers to the process of observing and scanning 3D, aerospace, civil, mechanical and infrastructure structures to detect defects and anomalies. Information is gathered through multiple sensors that transmit continuous data over the service life of the structure. Non-destructive acoustic emission, ultrasonic and thermal imaging technologies are used to prevent anomalies due to deterioration, misconfiguration, lack of quality control, or excessive accidental or environmental loads. SHM is widely used in bridges, power and wind energy plants, water, gas and oil pipelines, tunnels, rigs and pavements. It is also used to detect internal or external wear and malfunctions on ships, aircraft and heavy commercial vehicles.

Market Segments

By Component

• Hardware
• Software
• Services

By Connectivity

• Wired
• Wireless

By End User

• Civil
• Aerospace
• Defense
• Energy
• Mining

Key Players

Some of the key players being Acellent Technologies Inc., Bridge Diagnostics Inc., Campbell Scientific Inc., COWI A/S, Digitexx Data Systems Inc., FEAC Engineering, HBK – Hottinger Brüel & Kjær (Spectris plc), James Fisher and Sons plc, National Instruments Corporation, RST Instruments Ltd., Sisgeo S.r.l. and Sixense Enterprises Inc.

Scope of the Report

The research study analyzes the global Structural Health Monitoring (SHM) industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Structural Health Monitoring (SHM) Market Report

1. What was the Structural Health Monitoring (SHM) Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2022-2028).

2. What will be the CAGR of Structural Health Monitoring (SHM) Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Structural Health Monitoring (SHM) Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.