North America Structural Health Monitoring Market is expected to undergo a CAGR of 17.6% during the forecast period 2021 to 2028.
Market Analysis and Insights North America Structural Health Monitoring Market
Structural health monitoring (SHM) is the process of monitoring changes in the material and geometric qualities of engineering structures, such as bridges and buildings, over time using periodically sampled response measurements. The output of this process is regularly updated information regarding the structure's ability to perform its intended function in light of the inevitable aging and degradation resulting from operational environments for long-term structural health monitoring. After extreme events, such as earthquakes or blast loading, structural health monitoring is used for rapid condition screening and aims to provide, in near real-time, reliable information regarding the integrity of the structure.
Structural health monitoring offers the following numerous benefits to the customers: forecast and measures profits, Integrate and augment systems, track and measure construction activities, manage risk portfolio, boost revenue and enhance productivity, enable remote operations, reduce manual interactions, automate decisions, and others. Structural health monitoring simplifies communications between the system and the operators. It is helping the labourers to enhance their productivity and to optimize cost and operations.
Manufacturers are continuously trying to increase work precision, enhance services, safety, and work with growing technology. The requirement for these reasons is being fulfilled by implementing structural health monitoring as they are used to provide enhanced, uninterrupted, accessible, and timely services at the end-user applications. Structural health monitoring in the infrastructure industry is being used widely for structural health monitoring solutions and the rising adoption of digital technologies in the industrial sector. Structural health monitoring helps operators make better decisions around supply chain, machinery, assets performance, drilling, and others. The global structural health monitoring market is expected to grow due to growing digitization in the construction industry.
North America Structural Health Monitoring Market Scope
North America structural health monitoring market is segmented into six notable segments, which are based on the type, connectivity, installation type, method, application, and end user. The growth among segments helps you analyze niche pockets of development and strategies to approach the market and determine your core application areas and the difference in your target markets.
· On the basis of type, the structural health monitoring market is segmented into hardware, software, and services. In 2021, the hardware segment is expected to dominate the market due to the increasing demand for structural health monitoring hardware in critical structures. However, the high capital investment hinders the market growth.
· On the basis of connectivity, the global structural health monitoring market is segmented into wired and wireless. In 2021, the wired segment is expected to dominate the market due to the increased demand for low-cost structural health monitoring systems and to avoid problems caused because of wireless networking. However, the technological risks involved in the installation of the system may hinder the segment’s growth.
· On the basis of installation type, the global structural health monitoring market is segmented into new installation and retrofit. In 2021, a new installation segment is expected to dominate the market due to the increasing demand for the application of structural health monitoring systems in each newly installed critical structure. However, the high cost of installation may hinder the segment’s growth.
· On the basis of method, the global structural health monitoring market is segmented into visual inspection and non-destructive evaluation (NDE). In 2021, the visual inspection segment is expected to dominate the market due to the reduced technological complexities in visual inspection. However, the risks involved in data insufficiency may hinder the segment’s growth.
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North America Structural Health Monitoring Market Country Level Analysis
The countries covered in the structural health monitoring market report are the U.S., Canada, and Mexico.
The U.S. is expected to dominate the North American region because of rapid growth in the infrastructure industry, quality usage, and standards of wires and cables.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Structural Health Monitoring Market Share Analysis
The North America Structural Health Monitoring Market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to North America Structural Health Monitoring Market.
Key Players North America Structural Health Monitoring Market
- GEOKON
- Campbell Scientific Inc.
- SIXENSE Systems
- Kinemetrics
- Digitexx Data Systems Inc.
- NATIONAL INSTRUMENTS CORP.
- OSMOS Group SA
- HBK
- Nova Ventures
- Acellent Technologies Inc.
- James Fisher
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MAJOR TOC OF THE REPORT
- Chapter One: Introduction
- Chapter Two: Market Segmentation
- Chapter Three: Market Overview
- Chapter Four: Executive Summary
- Chapter Five: Premium Insights
- Chapter Six: Global North America Structural Health Monitoring Market by Product & Procedure type
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https://www.databridgemarketresearch.com/toc/?dbmr=north-america-structural-health-monitoring-market
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