where expertise comes together - since 1996

Web's Largest Portal of Nondestructive Testing (NDT)
Open Access Database (Conference Proceedings, Articles, News), Exhibition, Forum, Network


NDT.net Issue - 2015-12 - NEWS

Structural Health Monitoring (SHM) Market worth 1.89 Billion USD by 2020


MarketsandMarkets17, Pune, MH [India]
NEWS  
NDT.net Journal
Issue: 2015-12
According to a new market research report "Structural Health Monitoring (SHM) Market by Technology (Wired and Wireless), by Solution Type (Hardware and Software & Services), by Application (Bridges, Dams, Tunnels, Buildings, Stadiums, and Other), and by Geography - Global Trend & Forecast to 2020", the SHM market is expected to reach USD 1.89 Billion by 2020, growing at a CAGR of 24.7% between 2015 and 2020.

Download PDF Brochure

Major key players in the SHM market include:

Advitam Inc. (France),
COWI A/S (Denmark),
Geocomp Corp. (U.S.),
Geokon, Inc. (U.S.),
Hottinger Baldwin Messtechnik GmbH (Germany),
Nova Metrix LLC, (U.S.).

There are many other players in this market such as:

Digitexx Data Systems, Inc. (U.S.),
GeoSig Ltd. (Switzerland),
SODIS LAB (Russian Federation),
Strainstall UK Limited (U.K.).

Inquiry Before Buying

SHM is an emerging market and used to improve the safety measures and reduce maintenance cost of critical structures. A combination of hardware and software is required for the designing of SHM system, whereas the services such as design and consulting services and installation services play important role in designing the SHM system. The large number of new civil infrastructure project is at the construction phase around the globe. Government rules and regulations also provide the boost in the growth of the SHM market.

For instance, in 2014, according to new rules and regulations by the Chinese government, SHM should be used in the new bridges, and designing of SHM should be in parallel with the designing of the bridge. It also outlines the importance of durable, maintainable, and replaceable sensor with service life of up to 20 years if embedded or 3 to 5 years if placed on the surface of the bridge.

The overall SHM market is segmented into various segments, namely, technology, solution type, application, and geography. The SHM market is segmented on the basis of SHM applications, which include bridges, dams, tunnels, buildings, stadiums, and others. The SHM market in bridges is expected to grow at the highest CAGR of 27.1% between 2015 and 2020.

Geographically, the SHM market is segmented into North America (U.S., Canada, and Mexico), Europe (Germany, the U.K., France, and others), APAC (China, Japan, Singapore, South Korea, and others), and Rest of the World (Australia, Africa, the Middle East, and others). The APAC market is estimated to grow at a CAGR of 29.0% between 2015 and 2020.

Request for Sample Pages

More of MarketsandMarkets published in NDT.net
2018-06-01: Thermal Imaging Market worth 4.04 Billion USD by 2023
2018-04-01: Intelligent Pigging Market worth 717.9 Million USD by 2023
2018-03-01: Acoustic Emission Testing Market worth 349.9 Million USD by 2023
2018-03-01: Film Thickness Measurement Market worth 521.9 Million USD by 2023
2018-02-01: Structural Health Monitoring Market worth 3.40 Billion USD by 2022
2018-02-01: Infrastructure Monitoring Market worth 3.38 Billion USD by 2023
2017-09-01: The Global Market for Nondestructive Testing (NDT) Equipment and Services should Reach More than $17.2 Billion in 2017 and $26.4 Billion by 2022, at a CAGR of 8.9% Through 2022.
2016-09-01: Ultrasonic Testing Market worth 3.93 Billion USD by 2022
2016-09-01: NDT Services Market by Testing Technique (Ultrasonic, Radiographic, Eddy Current, Magnetic particle, Acoustic Emission, Terahertz Imaging), Type (Inspection, Renting, Training, Calibration), Vertical, & Geography - Global Forecast to 2022
2016-02-01: Non Destructive Testing (NDT) Market by Method (UT, RT, LPT, MPT, ECT, VI), End-User (Aerospace & Defense, Power Generation, Infrastructure, Oil & Gas, Automotive), Technique, Application & Region (G7, BRICS, RoW) – Global Forecast to 2020
All 17 Articles & News of MarketsandMarkets in NDT.net


© NDT.net - The Web's Largest Portal of Nondestructive Testing (NDT) ISSN 1435-4934

Open Access Database, |Conference Proceedings| |Articles| |News| |Exhibition| |Forum| |Professional Network|