NEW JERSEY, UNITED STATES, November 22, 2021 /EINPresswire.com/ -- Description

The "Global Structural Health Monitoring market Size, Status, and Forecast 2027" study from CMI provides an overview of the global Structural Health Monitoring market. This section illuminates the primary impact-rendering factors and restrictions limiting expansion. It enables people to comprehend various flaws and how they may obstruct future growth. This section is one of the most important in the report since it explains how many macro and microeconomic factors affect growth. The research also discusses the role of several sectors in the expansion, including small-scale and large-scale operations. Furthermore, industry specialists have presented current trends and prospects that are expected to boost growth in the next years.

The global structural health monitoring was valued for US$ 2,328 Mn in 2019 is expected to exhibit a CAGR of 14.0 % during the forecast period.

Structural health monitoring (SHM) is the process of employing a damage detection and classification strategy for engineering structures such as dams, buildings, and bridges. In other words, it is the practice of acquiring knowledge of the integrity of the in-service structures on a constant real-time basis. The SHM practice involves the observation of a system over time utilizing periodically sampled response measurements from an array of sensors. There are different processes involved in SHM namely operational evaluation, data acquisition, normalization, and cleansing, feature extraction and data compression, and statistical model development. SHM system’s elements include structure, sensors, data acquisition systems, data transfer and storage mechanism, data management, and data interpretation and diagnosis.

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Major Key players in this Market:

Nova Metrix LLC, National Instruments Corporation, Kinemetrics Inc., Advitam Inc. (Vinci SA), Hottinger Baldwin Messtechnik GmbH, Digitexx Data Systems, Inc., Geocomp Corporation, Acellent Technologies, Inc., Strainstall UK Limited (James Fisher & Sons PLC), and COWI A/S

Segmental Analysis

Product and application segments have been included in the study. All of the items on the Structural Health Monitoring market today have been recorded by the researchers. They've also cast light on significant players' new product releases and advancements. The researchers supplied revenue prediction numbers for the period 2021-2027 in the segmental study, depending on type and application. They also talked about each segment's growth rate and potential from 2021 to 2027.

Structural Health Monitoring SHM market Market Segmentation

By Type
Wired SHM System
Wireless SHM System

By Component
Hardware
Sensors
Data Acquisition System
Others

Software
Design & Analysis
Parameter Identification & Tracking
Others

Services
Installation Services
Design & Consulting Services
Operation & Maintenance Services

By Application
Bridges & Dams
Buildings & Stadiums
Vessels & Platforms
Airframes & Wind Turbines
Large Machinery & Equipment

By Region
North America
Latin America
Europe
APAC
Middle East and Africa

Key Developments

Key players in the market are involved in product launching, in order to enhance their product portfolio. For instance, in August 2016, National Instruments Corporation introduced Hardware-in-the-Loop (HIL) simulator to enable automotive and aerospace software testers to maintain quality during shortened schedules, constantly changing test requirements, which translates to reduced need for manual intervention.
Major market players are focused on business expansion, in order to enhance their market presence. For instance, in April 2016, Geocomp Corporation inaugurated a new office in Salt Lake City, U.S., in order to offer services and products to help clients to identify and manage risks associated with design, construction and operation of infrastructure.

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