Published on : Nov 17, 2017
Albany, New York, November 17, 2017: Steady infrastructural development worldwide and focus of governments on their safety is driving the need for structural health monitoring and propelling its market growth. Considering these facts, Market Research Hub (MRH) has freshly broadcasted a new study to its wide repository, which is titled as “Structural Health Monitoring Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”. This study encapsulates vital details about the current market scenario along with industry growth prospects from 2012 to 2017 and forecast to 2025. This research study is filled with perceptive market insights and essential acumen and reflects various factors that have contributed to the growth of the global market.
In this initial section, the research starts with an overview of the structural health monitoring market in terms of value. In addition, this section includes an analysis of key trends, drivers and restraints from the supply, demand and economy side that are likely to influence the global structural health monitoring market. As per the current findings, the global structural health monitoring market will likely rise at a steady CAGR of 10.09% from 2017 to 2025 to become worth US$4.09 mn by 2025-end from US$1.57 mn in 2016.
Structural health monitoring is a process of implementing a strategy for damage detection and characterization for engineering structures. Widespread interest of governments and autonomous bodies to protect heritage structures is positively influencing the market. Looking to the ,market scenario, report states that major companies in the civil engineering domain are entering into carefully-considered mergers and acquisitions in order to strengthen their operations and expand their outreach.
North America and Asia-Pacific to Fore due to Aging Infrastructure Developments
Geographically, the report broadly categorizes the market into prime regions, such as North America, APAC, South America, Europe, Middle East and Africa. North America and Asia-Pacific are among the key markets for structural health monitoring owing to the the aging infrastructure such as bridges, tunnels, and power plants that need structural health monitoring. Analysts predict the North America market to become worth US$1.31 bn by 2025. In addition, the market in APAC region is anticipated to rise at an 11.38% CAGR from 2017 to 2025.
Moving further, the global structural heath monitoring market is likely to be segmented on the basis of solution, connectivity and application. Based on the solution, the market is divided into the software, hardware and services solution. Of these, growing demand for installation and maintenance of the structural health monitoring systems by various industries, the services segment is predicted to record maximum CAGR in the coming years. Connectivity type include wired and wireless system. Based on application, the market is segmented into civil, aviation, and others.
To offer readers detailed insights, the report also offers a thorough competitive landscape analysis, profiling the key players in the market. The competitive landscape features some of the top companies, their products and business strategies, and their standing in the global market. The key players profiled in this report include – COWI A/S, Nova Metrix LLC, Digitexx Data Systems, Inc., OSMOS Group, Wiss, Janney, Elstner Associates, Inc., ACELLENT TECHNOLOGIES, INC., National Instruments Corporation, ATKINS, Kinemetrics, CTL Group, and First Sensor.
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