DUBLIN--(BUSINESS WIRE)--The "Structural Health Monitoring Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
The structural health monitoring (SHM) market is projected to grow at a CAGR of 14.95% over the forecast period of 2017-2023.
Development of state-of-the-art IoT solutions and the popularity of this technique are the major factors driving the demand for this technology. However, the high initial cost of setting up the necessary infrastructure will inhibit the growing demand for SHM solutions.
By industry vertical, the global structural health monitoring market has been segmented as civil infrastructure, aerospace and defense, oil and gas, and energy and power among others.
Civil infrastructure held a significant market share owing to the deployment of SHM solutions on major infrastructure setting such as bridges, buildings, and dams among many others. Development of cost-effective solutions will boost the demand for SHM solutions in civil infrastructure. The energy and power industry is projected to witness substantial growth throughout the projected period owing to favorable government policies and increasing investment in renewable energy worldwide.
By geography, the global structural health monitoring market has been segmented as North America, South America, Europe, Middle East and Africa and the Asia Pacific. Each region has been further segmented into major some of the countries of their respective regions.
Globally, North America and Europe held a significant market share on account of the early adoption of technology and advancements in the field of cost-effective wireless sensors. Impressive economic growth and the trend of automation will boost the demand for these solutions in the Asia Pacific region. Oil and gas exploration activities require constant monitoring of the subsea structures and this will augment the SHM demand in the Middle East and African region. One of the major factor affecting the growth of this market in the South American region is economic recovery and an increase in the overall infrastructure spending.
Key Topics Covered
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Structural Health Monitoring (SHM) Market by Type
6. Structural Health Monitoring (SHM) Market by Component
7. Structural Health Monitoring (SHM) Market by End-User Industry
8. Structural Health Monitoring (SHM) Market by Geography
9. Competitive Intelligence
10. Company Profiles
- SGS SA
- HBM (Member of Spectris PLC)
- Safran Colibrys SA
- CTL Group
- Sensuron
- Osmos Group SA
- Struct-Sure
- Guralp Systems Ltd.
- TWI Ltd.
- NBG Systems GmbH
For more information about this report visit https://www.researchandmarkets.com/research/3fzt5t/the_global?w=4
