Structural Health Monitoring Market Size, Share & Analysis

Structural Health Monitoring Market Size, Share & Growth

[254 Pages Report] The global structural health monitoring market Size, Share, Industry Growth, Trends & Analysis was valued at USD 2.5 billion in 2024 and is projected to reach USD 4.1 billion by 2029; it is expected to register a CAGR of 10.4% during the forecast period. Aging infrastructure, increased infrastructure investment, and stringent safety regulations are among the major factors driving the growth of the Structural health monitoring for preventive maintenance and risk mitigation. Advancements in sensor technology, data analytics, and machine learning enhance monitoring capabilities, enabling real-time anomaly detection and predictive maintenance. Integration with building information modeling (BIM) further enhances monitoring, analysis, and decision-making throughout a structure's lifecycle.

Structural Health Monitoring Market Forecast to 2029

To know about the assumptions considered for the study, Request for Free Sample Report

Structural Health Monitoring Market Trends & Dynamics:

Driver: Government regulations pertaining to sustainable structures

Catastrophic failure of structures not only poses a risk to public safety but also leads to heavy monetary losses. For instance, the failure of dams can lead to the impairment of other structures such as bridges, roads, and water systems, resulting in risk to life as well as monetary losses. To improve public safety, such risks related to structures must be reduced. Hence, most governments around the world are focused on improving communication and coordination across governing agencies, developing tools based on advanced technology, promoting emergency action plans (EAP), and modifying regulatory policies to ensure the safety of infrastructure. Regulations, such as those outlined in the Guiding Principles for Sustainable Federal Buildings, emphasize the importance of energy efficiency, water conservation, indoor environmental quality, materials sustainability, and resilience in building design, construction, and operation. In US, building energy codes are established by the US Department of Energy, often based on ASHRAE standards, with many states and municipalities adopting these codes or implementing even stricter energy efficiency requirements. In the European Union, ambitious energy performance regulations target near-zero energy buildings by 2050, while regulations promote sustainable materials through recycled content and forestry practices. In India, the government promotes green building practices through the Energy Conservation Building Code (ECBC) and incentivizes LEED certification, alongside public procurement policies encouraging sustainable construction in government buildings.

By mandating sustainable practices, government regulations ensure that structures are built and maintained to high-performance standards, reducing environmental impact, conserving resources, and promoting occupant health and safety. Compliance with these regulations often necessitates the implementation of SHM strategies to monitor the structural health, performance, and sustainability of buildings over time. Therefore, government regulations play a crucial role in driving the adoption of SHM practices to meet sustainability requirements, enhance building performance, and ensure the long-term viability of structures in alignment with regulatory mandates.

Restraint: High Implementation Costs

Installing and maintaining Structural Health Monitoring (SHM) systems can be a costly endeavor, with expenses varying based on several factors. The cost is influenced by the size and complexity of the structure being monitored, as larger or more intricate buildings may require a greater number of sensors and more sophisticated monitoring systems. Additionally, the type and quantity of sensors needed, along with the chosen data acquisition and analysis platform, contribute to the overall cost of implementing an SHM system. This variability in costs can pose a significant barrier for smaller structures or projects with limited budgets, potentially limiting their ability to invest in comprehensive SHM solutions. The financial implications associated with SHM highlight the importance of considering budget constraints and cost-effectiveness when planning for the installation and maintenance of monitoring systems, especially for smaller structures or projects with restricted financial resources.

Opportunity: Increasing investments in oil & gas and energy projects

Many governments and other organizations have started investing in new oil & gas infrastructure and major energy projects. The dam is one of the most advanced smart mega hydropower stations globally due to its usage of low-heat cement and built-in monitoring systems. The growing need for sustainable power generation and the reduction of the carbon footprint has led to an increased focus on developing wind farms, hydropower stations, and other renewable energy projects. The growing focus on energy mega-projects is expected to increase the demand for structural health monitoring systems.

Similarly, in the oil & gas industry, pipelines need to be monitored regularly to ensure structural safety and prevent metal loss due to corrosion, erosion, and cracks. The monitoring of pipelines is majorly restricted to flow measurement and visual inspection, which have very limited potential to detect leakages. Hence, pipeline failures are generally identified only when the output flow is affected or the surrounding environment is affected, leading to increased costs. Hence, several stakeholders involved in oil & gas projects are increasingly using structural health monitoring solutions to monitor pipelines effectively. Some of the major oil & gas projects in recent years include Alaska’s LNG Mega-Project and the Al Zour Refinery in Kuwait.  

Challenge: Processing and management of large volumes of data

Data processing and management is a major challenge in structural health monitoring. Sensors are strategically installed at various places on the structure to record data related to several critical parameters. Hence, any decision related to the maintenance of the structure is based on the data acquired by the sensor. Sensors, such as strain gauge sensors, accelerometer sensors, and displacement sensors, capture essential data related to the structure and transfer it to the base center for further analysis. These sensors generate large volumes of data daily, which is difficult to maintain and analyze. However, advanced computing solutions and technologies can be deployed for such large volume data management and processing. Various research institutes are working on different methods to overcome this challenge while maintaining data reliability. It is expected that this challenge could be overcome by adopting new approaches toward identifying and extracting useful information from a large database and using certain data analytics tools.

Structural Health Monitoring Market Ecosystem

Prominent companies in this market include well-established, financially stable providers of structural health monitoring services. These companies have been operating in the market for several years and possess a diversified product and software & service portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include COWI A/S (Denmark), Campbell Scientific (US), Geokon (US), Nova Metrix LLC (US), SGS SA (Switzerland), Trimble Inc. (US), Structural Monitoring Systems PLC (Australia), Sixense (France), Digitexx Data Systems, Inc. (US), and Acellent Technologies, Inc. (US)

By offering, the software & services segment is expected to grow with the highest rate during the forecast period.

The increased complexity of data collected by modern structural health monitoring (SHM) systems necessitates specialized software for efficient data acquisition, management, visualization, analysis, and predictive maintenance. Also, organizations often lack in-house expertise in data analysis, structural engineering, and SHM principles, relying on specialized software and service providers. The evolving SHM technologies demand cutting-edge solutions that software and service providers can offer, staying ahead of developments. Moreover, seamless integration with existing systems, cost-effectiveness, vendor expertise, and ongoing support are crucial considerations. Additionally, the growing demand for cloud-based solutions, driven by remote access, centralized management, and scalability, presents opportunities for software and service providers to cater to evolving needs. The regulatory requirements mandating specific data collection and reporting practices further drive demand for compliant solutions offered by software and service providers.

By vertical, the energy sector for the structural health monitoring market is experiencing notable growth.

The structural health monitoring (SHM) industry is poised for significant growth within the energy sector due to various compelling factors. Aging infrastructure, such as power plants, pipelines, wind turbines, and transmission lines nearing the end of their design life, underscores the importance of SHM in detecting issues early to prevent failures and ensure reliable energy production. Safety concerns drive the need for proactive identification and resolution of potential problems to mitigate risks of accidents and supply disruptions. Stricter regulatory scrutiny mandates safety inspections and maintenance practices, with SHM providing vital monitoring data for compliance. The integration of renewable energy sources necessitates ensuring the structural integrity of new infrastructure like wind turbine towers and solar arrays. Remote monitoring capabilities reduce operational costs by enabling continuous monitoring in remote locations. Predictive maintenance facilitated by SHM leads to cost savings through early issue identification and intervention. SHM data enhances asset management by optimizing maintenance schedules, extending asset lifespans, and informing investment decisions. Integration with digital twins offers a comprehensive view of asset health for improved planning and decision-making. Applications in the energy sector include monitoring wind turbine blades, pipelines for corrosion, power plant structures, transmission lines, and hydroelectric dams to ensure stability and prevent outages, highlighting the diverse benefits and applications of SHM in enhancing energy infrastructure performance and reliability.

During the forecast period Asia Pacific is projected to record highest growth rate of the overall Structural health monitoring market.

Structural Health Monitoring Market by Region

To know about the assumptions considered for the study, download the pdf brochure

The Asia Pacific region is witnessing a rapid urbanization trend, driving a surge in construction activities for new buildings, bridges, and transportation networks. This growth spurt necessitates robust monitoring solutions to uphold the safety and durability of these structures. With aging infrastructure nearing the end of its design life, Structural Health Monitoring (SHM) offers a proactive approach to managing these assets by enabling early issue detection and averting costly repairs or catastrophic incidents. Increased government investments in infrastructure development further fuel the demand for SHM systems, ensuring their incorporation in both new and existing projects. The region's heightened focus on safety, sustainability, and public awareness underscores the pivotal role of SHM in accident prevention and structural integrity maintenance. Technological advancements have led to more efficient and cost-effective SHM solutions, making them more accessible across a broader spectrum of structures. The growing availability of skilled SHM professionals in the region enhances the effective implementation and maintenance of monitoring systems.

Top Companies Structural Health Monitoring Market Players              

• COWI A/S (Denmark),
• Campbell Scientific (US),
• Geokon (US),
• Nova Metrix LLC (US),
• SGS SA (Switzerland),
• Trimble Inc. (US),
• Structural Monitoring Systems plc (Australia),
• Sixense (France),
• Digitexx Data Systems, Inc. (US), and
• Acellent Technologies, Inc. (US) are some of the key players in the structural health monitoring companies.

Structural Health Monitoring Market Report Scope

Structural Health Monitoring Market Highlights

This research report categorizes the structural health monitoring market based on offering, technology, vertical, implementation, application, and region.

Recent Developments

• In December 2023, Campbell Scientific has launched the Aspen 10 Internet of Things (IoT) Edge Device, a cutting-edge instrument that seamlessly connects Aspen 10-compatible sensors to CampbellCloud. This robust device is specifically engineered for outdoor installation, eliminating the necessity for an extra enclosure. It boasts an integrated solar panel and internal rechargeable battery, ensuring self-sustainability and reliable operation in outdoor environments.
• In September 2023, Trimble and Kyivstar collaborated to establish a Continuously Operating Reference Station (CORS) network in Ukraine, offering GNSS correction services through Trimble's hardware and software technology.
• In May 2023, COWI A/S completed the acquisition of Mannvit. With this acquisition COWI focus on expanding its business within key sectors like infrastructure, industry, environment, and renewable energy in Iceland. Mannvit is a global consulting company that focuses on engineering, renewable energy, scientific services, and project management.
• In December 2022, The new Model 8940 Series GeoNet Dataloggers provide a valuable data collection solution for all GEOKON vibrating wire instruments and digital sensor strings, including MEMS IPI and VW sensors
• In June 2023, Campbell Scientific and the Royal Netherlands Meteorological Institute (KNMI) have partnered to enhance the surface observation systems in the Netherlands. This collaboration focuses on modernizing the observation network through software tools and solutions, aiming to improve responses to weather impacts and climate changes. The project involves deploying new software developed in partnership with KNMI, introducing Edge devices, and implementing a new software platform to remotely manage the observation network.

Frequently Asked Questions(FAQs):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst