Structural Health Monitoring Market, By Type (Wired and Wireless SHM System), By Component (Hardware (Sensors, Data Acq

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2. STRUCTURAL HEALTH MONITORING MARKET ANALYSIS Structural Health Monitoring Market, By Type (Wired and Wireless SHM System), By  Component (Hardware (Sensors, Data Acquisition System and Others), Software (Design & Analysis, Parameter Identification & Tracking and Others ) and Services (Installation Services ,Design & Consulting Service, Operation & Maintenance Services)), By Application (Bridges & Dams, Buildings & Stadiums, Vessels & Platforms, Airframes & Wind Turbines and Large Machinery & Equipment), and by Region (North America, Latin America, Europe, APAC and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Market Overview • The global structural health monitoring market was valued for US$ 2,328 Mn in 2019 is expected to exhibit a CAGR of 14.0 % during the forecast period. • Market Dynamics- Drivers • Increasing government initiatives for public safety combined with standardization of the SHM system is expected to drive growth of the global structural health monitoring market during the forecast period • High availability of low-cost sensors is expected to propel the global structural health monitoring market growth over the forecast period

4. Market Dynamics- Drivers • Lack of skilled professionals is expected to hinder the global structural health monitoring market growth over the forecast period • Threats concerning cyber-attacks on connected SHM systems are expected to restrain growth of the global structural health monitoring system market during the forecast period

5. Market Opportunity • Growing investments in smart city projects are expected to present lucrative growth opportunities • Integration of SHM system with mass notification systems (MNS) to pose major business opportunities

6. Figure .2 Market Opportunities

7. Market Trends • Key solution providers are focused on low-cost energy harvesting monitoring systems • Growing adoption of distributed optic fiber in SHM solution • Segment information: • In global structural health monitoring market, by type segment, Wired SHM System sub-segment dominated the global market in 2019, accounting for 64.6% share in terms of value.

8. Figure .2 Market Share

9. Competitive Section Key players operating in the global structural health monitoring market are Nova Metrix LLC, National Instruments Corporation, Kinemetrics Inc., Advitam Inc. (Vinci SA), Hottinger Baldwin Messtechnik GmbH, Digitexx Data Systems, Inc., Geocomp Corporation, Acellent Technologies, Inc., Strainstall UK Limited (James Fisher & Sons PLC), and COWI A/S.

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