Structural Health Monitoring (SHM) Market Size, Share, Growth & Industry Analysis, By Application (Bridges and Dams, Buildings and Stadiums, Vessels and Platforms, Airframes and Wind Turbines and Others), By Solution (Hardware and Software), By Technology (Wireless and Wired), and Regional Analysis, 2024-2031

Structural Health Monitoring Market Size

The global Structural Health Monitoring (SHM) Market size was valued at USD 2,348.0 million in 2023 and is projected to grow from USD 2,682.3 million in 2024 to USD 7,886.5 million by 2031, exhibiting a CAGR of 16.66% during the forecast period. In the scope of work, the report includes solutions offered by companies such as Nova Metrix LLC, Campbell Scientific, Inc., COWI, Geocomp Corporation, Acellent Technologies, Inc., Sixense, Pure Technologies (Xylem, Inc.), Digitex, SGS SA, Kinemetrics and others.

The growth of the market is driven by the imperative to ensure the safety and longevity of infrastructure. Structural health monitoring (SHM) leverages advanced sensors and data analytics to detect and assess structural integrity in real-time, preempting potential failures and optimizing maintenance schedules, thus reducing risks and enhancing operational efficiency. 

The structural health monitoring market is experiencing robust growth, largely attributable to the increasing need for infrastructure safety, longevity, and operational efficiency. As urbanization accelerates globally, substantial investments in infrastructure are boosting the demand for advanced SHM systems. Significant capital inflow into infrastructural development highlights a global emphasis on enhancing infrastructure.

SHM systems, utilizing technologies such as artificial intelligence (AI) and machine learning (ML), offer critical capabilities for monitoring structural health, detecting anomalies, and enabling predictive maintenance. This minimizes downtime and optimizes resource allocation. The integration of these technologies provides data-driven insights and enables proactive maintenance strategies, which are essential for extending the lifespan of critical assets. 

The market is poised to witness significant growth as technological advancements and increased infrastructural investments drive widespread adoption, ensuring the safety and sustainability of urban environments. Structural health monitoring is a field of engineering that involves the continuous or periodic monitoring of the condition and performance of structures such as buildings, bridges, dams, and pipelines.

SHM employs various sensors, data acquisition systems, and analytical techniques to assess the integrity and health of structures in real-time or over extended periods. The primary goal of SHM is to detect and assess any changes, damages, or deterioration in structural properties that could compromise safety, reliability, or functionality.

By monitoring structural behavior and performance, SHM enables early detection of defects or anomalies, allowing for timely maintenance or repairs to prevent catastrophic failures and extend the lifespan of infrastructure assets. SHM plays a crucial role in ensuring the safety, resilience, and longevity of civil, mechanical, and aerospace structures, contributing significantly to the overall sustainability of built environments.

Analyst’s Review

The advancement of structural health monitoring represents a crucial evolution in infrastructure management. SHM integrates advanced sensor technologies and sophisticated data analytics to continuously monitor the condition of structures such as bridges, buildings, and dams. This proactive approach enhances safety by detecting potential issues early, optimizes maintenance efforts, and extends the lifespan of critical assets. The implementation of SHM systems enables stakeholders to make data-driven decisions, thereby improving operational efficiency and reducing downtime due to unexpected failures.

• For instance, in October 2022, Sumitomo Heavy Industries Marine & Engineering (SHI-ME) partnered with Light Structures AS, selecting the SENSFIBTM Structural Health Monitoring system for the third vessel in a series of crude oil tankers built for Samos Steamship.

This collaboration underscored SHI-ME's commitment to integrating advanced technology to enhance vessel safety and performance. By implementing the SENSFIBTM system, the ship's captains and navigators gained access to real-time data that predicts and addresses dynamic forces such as whipping, slamming, and shearing during operations. Moreover, the ongoing development of predictive modeling and artificial intelligence enhances SHM's capabilities, offering more precise assessments and predictive maintenance strategies.

Structural Health Monitoring Market Growth Factors

Rapid urbanization and increased investment in infrastructure present significant opportunities for the adoption of structural health monitoring systems.

• According to a World Bank report, private participation in infrastructure (PPI) investment reached USD 96.7 billion across 409 projects, with a five-year average investment of USD 103.5 billion. Notably, about 19% of project sponsorship in developing nations came from China-based entities, highlighting substantial growth in infrastructural development.

This surge in investment and urbanization is expected to bolster demand for SHM systems, as these technologies play a crucial role in ensuring the safety, longevity, and operational efficiency of new and existing infrastructure. Enhanced monitoring capabilities provided by SHM systems is likely to be essential in managing the increasing complexity and scale of urban infrastructure, thereby offering significant growth opportunities for the structural health monitoring market.

However, a significant challenge in the market is integrating diverse sensor technologies and data management systems. This complexity arises from variations in communication protocols, data formats, and power requirements among sensors. Managing large volumes of real-time data adds to the challenge, highlighting the need for robust storage, processing, and analysis solutions.

Ensuring compatibility and scalability across different sensor types and monitoring applications demands standardized approaches and interoperable systems. Failure to address these integration challenges leads to fragmented SHM systems, compromised data accuracy, and increased implementation costs.

To overcome this obstacle, industry stakeholders are aiming to invest in interoperable sensor technologies, standardized communication protocols, and comprehensive data management platforms, thereby fostering collaboration to develop scalable and cohesive SHM solutions capable of meeting diverse application needs while ensuring seamless integration and data interoperability.

Structural Health Monitoring Market Trends

The critical need for safe and long-lasting infrastructure is fueling the demand for structural health monitoring. This technology continuously monitors a structure's health through real-time data collected by a network of advanced sensors. The field of SHM sensor technology is constantly evolving, with various wired and wireless options available.

These sensors, including load cells, LVDTs, fiber optic sensors, and strain gauges, play a crucial role in collecting accurate data for structural analysis. Leading companies in sensor development are actively exploring new technologies to enhance data accuracy and improve overall structural assessments. One notable innovation in this field is the Acoustic Emission (AE) method pioneered by Toshiba Corporation.

This method leverages the vibrations generated by moving vehicles on bridges to detect the presence and location of cracks. The AE sensors detect these elastic waves, effectively serving as an internal inspection tool for the bridge structure. The AE method has also proven effective in detecting the impact of raindrops hitting the road surface, which demonstrates its versatility.

The structural health monitoring field is undergoing a transformative shift due to the integration of AI and ML. This integration is driving the generation of data-driven insights and significantly enhancing the management of infrastructure. AI algorithms enhance anomaly detection by analyzing continuous sensor data to identify subtle issues that may indicate future problems, enabling proactive interventions and preventing costly failures.

Machine learning models trained on historical and real-time data facilitate predictive maintenance, thereby optimizing resource allocation and minimizing downtime by allowing strategic planning of maintenance activities. Furthermore, AI and ML provide infrastructure managers with valuable insights from vast SHM data, thus guiding strategic decisions on repairs, upgrades, and overall management.

This data-driven approach optimizes resource allocation, prioritizes repairs based on risk assessments, and extends the lifespan of critical infrastructure assets. The integration of AI and ML is expected to boost the growth of the structural health monitoring market, offering enhanced maintenance, improved decision-making, and cost optimization, thereby ensuring infrastructure safety, longevity, and operational efficiency.

Segmentation Analysis

The global market is segmented based on application, solution, technology, and geography.

By Application

Based on application, the SHM market is categorized into bridges and dams, buildings and stadiums, vessels and platforms, airframes and wind turbines, large machines and equipment and others. The bridges and dams segment garnered the highest revenue of USD 855.8 million in 2023. A large portion of the world's bridges and dams are nearing the end of their lifespan.

SHM offers a cost-effective solution for proactive monitoring, enabling early detection of issues before they escalate into catastrophic failures that could adversely impact public safety and economic well-being. Stringent regulations are pushing for regular inspections and data-driven maintenance plans for these critical structures. SHM systems provide a robust platform for compliance, offering real-time data that demonstrates adherence to safety regulations.

By preventing major failures and minimizing disruption through targeted maintenance, SHM delivers significant cost savings for bridge and dam owners. With the growing emphasis on infrastructure safety and regulatory compliance, the bridges and dams segment is expected to witness significant growth in the forthcoming years.

By Solution

Based on solution, the market is divided into hardware and software. The hardware segment captured the largest structural health monitoring market share of 62.34% in 2023. These components play a vital role in acquiring and transmitting data, significantly influencing the effectiveness of the entire SHM system. Advancements in sensor technology, including miniaturization and wireless capabilities, are key factors supporting segmental growth, facilitating easier deployment and real-time data collection.

Reliable communication infrastructure ensures seamless data transmission to the central monitoring system, while a consistent power supply is essential for sensor and system operation. Market players continuously innovate to enhance hardware solutions' cost-effectiveness and adapt to advancements in sensor technology, thereby expanding SHM's reach to a broader range of structures. With growing demand for real-time monitoring and cost-effective solutions, the hardware segment is anticipated to experience robust growth.

By Technology

Based on technology, the market is divided into wireless and wired. The wireless segment is set to capture the largest structural health monitoring market share of 67.84% by 2031. Comprising wireless sensors, communication systems, and data transmission protocols, this segment facilitates flexible and easy deployment across various structures. These sensors, such as accelerometers and strain gauges, provide reliable data collection capabilities while minimizing installation complexities.

Communication systems utilize wireless protocols such as Wi-Fi, Bluetooth, and cellular networks for seamless data transmission to central monitoring systems, thereby enhancing operational efficiency and reducing maintenance costs. The segment experiences significant growth due to rising demand for real-time monitoring solutions and the widespread adoption of IoT technology in infrastructure management.

Market players are investing heavily in R&D to develop innovative wireless solutions tailored to SHM requirements, including energy-efficient sensors and cloud-based data analytics platforms. As infrastructure owners prioritize safety and reliability, the demand for wireless SHM solutions is expected to surge, creating lucrative opportunities for market players.

Structural Health Monitoring Market Regional Analysis

Based on region, the global market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

The North America structural health monitoring market share stood around 33.78% in 2023 in the global market, with a valuation of USD 793.2 million. The region's advanced infrastructure, coupled with stringent safety regulations, propels the demand for SHM technologies across various sectors including bridges, buildings, dams, and tunnels.

Technological advancements in sensors, data analytics, and IoT play a pivotal role in enhancing the efficiency and effectiveness of SHM systems, ensuring continuous monitoring and early detection of structural anomalies. Government initiatives aimed at infrastructure resilience and safety further bolster regional market growth by fostering collaborations between industry players, universities, and research institutions.

Europe is anticipated to witness substantial growth at a CAGR of 20.50% over the forecast period. This notable expansion is propelled by a surge in investments toward energy-based infrastructure and a commitment to technological innovation. Countries such as Denmark, are spearheading the transition toward renewable energy sources, with ambitious targets set for renewable penetration in the energy mix.

• By 2028, projections indicate that seven European countries are likely to surpass a 50% penetration of variable renewables. Denmark is anticipated to lead with an anticipated 90% incorporation of wind and solar photovoltaic (PV) energy into its electricity grid.

This shift toward renewable energy necessitates robust monitoring and maintenance of infrastructure, leading to increased demand for SHM systems. As investments in energy-based infrastructure continue to rise across Europe, the demand for SHM systems is projected to grow.

Competitive Landscape

The structural health monitoring (SHM) market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions.

Companies are implementing impactful strategic initiatives, such as expanding services, investing in research and development (R&D), establishing new service delivery centers, and optimizing their service delivery processes, which are likely to create new opportunities for market growth.

List of Key Companies in Structural Health Monitoring Market

• Nova Metrix LLC
• Campbell Scientific, Inc.
• COWI
• Geocomp Corporation
• Acellent Technologies, Inc.
• Sixense
• Pure Technologies (Xylem, Inc.)
• Digitex
• SGS SA
• Kinemetrics

Key Industry Development

• June 2023 (Approval): Samsung Heavy Industries Co., Ltd. achieved a significant milestone by receiving approval in principle (AIP) from ABS for their Hull Stress Monitoring System (HSMS), under the ABS SMART Tier 2 standards. This accomplishment follows a collaborative development effort with ABS focused on advancing hull safety through smart ship technology. The AIP verifies the feasibility of the design and its compliance with ABS SMART Tier 2 criteria, which encompass monitoring vessel-specific loads and operations, providing regular updates on structural conditions, and employing physics-based analysis to comprehensively assess and predict structural health.

The global structural health monitoring market is segmented as:

By Application

• Bridges and Dams
• Buildings and Stadiums
• Vessels and Platforms
• Airframes and Wind Turbines
• Large Machines and Equipment
• Others

By Solution

• Hardware
• Software

By Technology

• Wireless
• Wired

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • U.K.
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America