Published Date: 31-Mar-2022
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According to a new report, published by KBV research, The Global Structural Health Monitoring Market size is expected to reach $3.8 billion by 2027, rising at a market growth of 13.5% CAGR during the forecast period.
Wireless market is showcasing a CAGR of 15.3% during (2021 - 2027). The wireless structural health monitoring category is expected to increase at the fast rate. The reason for this increase is that wireless technology eliminates the need for cables and eliminates the need to safeguard the lines, resulting in lower installation costs. Because the wireless technology is adaptable, the sensors may be readily repaired, changed, added to, and relocated after initial installation.
The Software & Services market has high growth rate of 14.8% during (2021 - 2027). The Software platforms software applications and software algorithms are used to overcome the difficulty of, processing, storing, and analyzing large number of data for structural engineers. Software like MATLAB and SCADA, for instance, play a critical role in initial damage identification; they identify damage early on and permit essential repairs to maintain a high degree of safety. This owes to the growth of this segment.
The North America market is the fastest growing region in the Global Structural Health Monitoring Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.3 billion by 2027. The Europe market is estimated to witness a CAGR of 12.7% during (2021 - 2027). Additionally, The Asia Pacific market would display a CAGR of 15.2% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Acellent Technologies, Inc., Sixense, Nova Ventures Group Corp., Structural Monitoring System Plc., Digitexx Data Systems, Inc., SGS S.A, Campbell Scientific, Inc., COWI A/S, GEOKON, and Geocomp Corporation.
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