structural Health Monitoring Market analysis & forecast report categorizes global by Type (Wired & Wireless), by Applications (Crack Detection, Damage Detection & Others), by End-Users, by Technology, by Components (Hardware & Software), and by Geography.
Pune, India -- (SBWIRE) -- 02/23/2016 -- The operating cost can be saved by using SHM systems, which facilitate condition-based maintenance for various civil infrastructure. The global SHM market was valued at USD 505.0 Million in 2014 and is expected to grow at a CAGR of 24.7% between 2015 and 2020. The base year considered for this research study is 2014, and the market size has been estimated between 2015 and 2020. In this report, the SHM market is divided into four major geographies: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The SHM market in North America accounted for the largest share in 2014, in terms of value. The said market has been divided into the U.S., Canada, and Mexico. The key driving factors for the SHM market in the Americas include the ageing infrastructure, government support, and the increasing need for effective solutions for maintaining infrastructure.
Browse more than 75 market data tables with 75 figures spread through 167 pages and in-depth TOC on "Structural Health Monitoring (SHM) Market - Global Trend & Forecast to 2020"
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The report also provides market insights and forecast of SHM market with broader segmentation by technology, solution, application, and geography. The technology segmentation covers wired and wireless SHM, while the solution segmentation covers hardware and software & services. The SHM market segmented on the basis of application includes bridges, dams, tunnels, buildings, stadiums, and others.
SHM is an emerging market and used to improve the safety measures and reduce maintenance cost of critical structures. A combination of hardware and software is required for the designing of SHM system, whereas the services such as design and consulting services and installation services play important role in designing the SHM system. The large number of new civil infrastructure project is at the construction phase around the globe. Government rules and regulations also provide the boost in the growth of the SHM market. For instance, in 2014, according to new rules and regulations by the Chinese government, SHM should be used in the new bridges, and designing of SHM should be in parallel with the designing of the bridge. It also outlines the importance of durable, maintainable, and replaceable sensor with service life of up to 20 years if embedded or 3 to 5 years if placed on the surface of the bridge.
The overall SHM market is segmented into various segments, namely, technology, solution type, application, and geography. The SHM market is segmented on the basis of SHM applications, which include bridges, dams, tunnels, buildings, stadiums, and others. The SHM market in bridges is expected to grow at the highest CAGR of 27.1% between 2015 and 2020.
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Geographically, the SHM market is segmented into North America (U.S., Canada, and Mexico), Europe (Germany, the U.K., France, and others), APAC (China, Japan, Singapore, South Korea, and others), and Rest of the World (Australia, Africa, the Middle East, and others). The APAC market is estimated to grow at a CAGR of 29.0% between 2015 and 2020.
In 2014, some of the key players in the SHM market include Advitam Inc. (France), COWI A/S (Denmark), Geocomp Corp. (U.S.), Geokon, Inc. (U.S.), Hottinger Baldwin Messtechnik GmbH (Germany), and Nova Metrix LLC, (U.S.). There are many other players in this market such as Digitexx Data Systems, Inc. (U.S.), GeoSig Ltd. (Switzerland), SODIS LAB (Russian Federation), and Strainstall UK Limited (U.K.) among others.
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