Structural Health Monitoring Market Growing At 24.99% CAGR To 2022

The structural health monitoring market is expected to grow from USD 701.4 million in 2015 to USD 3407.7 million by 2022, at a CAGR of 24.99% between 2016 and 2022 while APAC is expected to grow at the highest rate between 2016 and 2022.

Pune, India – January 5, 2017 /MarketersMedia/ —

The growing usage of composites in construction of structures is major driver for the growth of structural health monitoring market in the aerospace industry. The high cost of the installation of sensors and other hardware in large structures such as bridges and dams could prove to be a major restraining factor for the growth of structural health monitoring market. However, the advancement in sensor technologies, growing usage of smart structures and smart materials with embedded sensors is some of the key future opportunities for growth of structural health monitoring market.

Complete report on global structural health monitoring market spread across 165 pages, profiling 13 companies and supported with 80 tables and 71 figures is now available at http://www.reportsnreports.com/reports/432919-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.html .

The structural health monitoring market for the aerospace industry is expected to grow at the highest rate between 2016 and 2022. The aerospace industry, particularly commercial aviation is highly cost sensitive, and MRO activities constitute significant overhead costs. This necessitates the use of enhanced solutions such as structural health monitoring to effectively reduce the down time because of MRO activities. The growing usage of structural health monitoring also results in improving the overall safety and security through real-time analysis on the condition of airframe structures.

The structural health monitoring market in APAC is expected to grow at the highest rate between 2016 and 2022. The rapid urbanization and frequent occurrences of natural calamities such as earthquakes are the major growth drivers for structural health monitoring market in this region. North America is expected to hold the largest share of the structural health monitoring market between 2016 and 2022. The rapidly aging infrastructure in the U.S., commercialization of structural health monitoring systems in the aerospace industry are some of the major factors driving the growth of the structural health monitoring market in North America.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with key people. The break-up of profile of primary participants has been given below:

• By Company Type: Tier 1 – 25%, Tier 2 – 45%, and Tier 3 – 30%
• By Designation: C-Level Executives – 45%, Directors – 35%, and Others – 20%
• By Region: North America – 35%, Europe – 30%, APAC – 25% and RoW – 10%

The key players in the structural health monitoring market profiled in this report such as Advitam Group, COWI A/S, Geocomp Corp., Geokon, Inc., Hottinger Baldwin Messtechnik GmbH (HBM), Nova Metrix LLC, Sodis Lab, Strainstall UK Ltd., Digitexx Data Systems, Inc., Geosig Ltd., National Instruments, Kinemetrics, Inc. and Acellent Technologies, Inc.

Request a discount on a copy of Structural Health Monitoring Market by Solutions (Hardware: Sensors, Data Acquisition System; Software & Services), Technology (Wired and Wireless), End Users and Geography – Global Forecast to 2022 research report at http://www.reportsnreports.com/contacts/discount.aspx?name=432919 .

Several companies have adopted the strategy of marketing of new products to increase their market share. Research and development (R&D) is increasingly conducted to provide comprehensive monitoring solutions, ranging from sensors to software support to customers. A number of companies have attempted to strengthen their market position by collaborating with various other participants in the value chain. Apart from these dominant strategies, some players have adopted the approach of mergers and acquisitions to expand their business in the structural health monitoring market.

Request a representative sample copy of this research at http://www.reportsnreports.com/contacts/requestsample.aspx?name=432919 .

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