Valley Cottage, New York, Nov. 13, 2017 (GLOBE NEWSWIRE) -- Future Market Insights tracks the performance of the global structural health monitoring market and presents a revised revenue forecast for the assessment period 2017 to 2027 in a recently published report titled ‘Structural Health Monitoring Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027). ’According to the report, the global structural health monitoring market is anticipated to grow from US$ 1,903.9 Mn in 2017 to US$ 7,184.1 Mn by 2027, expanding at a CAGR of 14.2% in terms of revenue during the forecast period (2017-2027). In this report, the global structural health monitoring market is tracked in terms of value, calibrated to obtain the market revenue estimates. Factors such as rapidly expanding infrastructural development across the globe, wide availability of low-cost sensors and increasing government initiatives towards public safety and structural health monitoring system standardisation are boosting revenue growth of the global market.
Structural Health Monitoring Market: Segmental Forecast
To understand and assess the demand and opportunities in this market, the report is categorically split into three major sections, namely market analysis by component, type and application.
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The section – market analysis by component, analyses the market on the basis of component and the data is provided in terms of value for 2012-2027. Component wise the market is further segmented into hardware, software and services. Hardware segment is anticipated to dominate the structural health monitoring market in terms of market share over the forecast period. The revenue sales of the hardware segment is anticipated to increase 3.2X over the forecast period.
The section – market analysis by type, analyses the market on the basis of type and the data is provided in terms of value for 2012-2027. On the basis of type, structural health monitoring market is further segmented into wired SHM system and wireless SHM system. Wired SHM system segment is expected to be the most attractive segment in terms of market share and incremental $ opportunity over the forecast period. The wired SHM segment is anticipated to create an incremental opportunity of US$ 3,149.1 Mn over the forecast period. The wireless SHM system segment is anticipated to exhibit 4.2X growth in terms of value over the forecast period.
The section – market analysis by application, comprehensively analyses the market on the basis of application and presents an in-depth analysis of the market in terms of value for 2012-2027. By application, structural health monitoring market in further segmented into bridges & dams, buildings & stadiums, vessels & platforms, airframes & wind turbines, and large machinery & equipment. In 2017, bridges & dams segment dominated the structural health monitoring market in terms of value share and is expected to retain its dominance over the forecast period, followed by the building & stadiums segment. The vessels & platforms segment is anticipated to exhibit approximately 3.5X growth over the forecast period. The airframes & wind turbines segment is estimated to create an incremental opportunity of US$ 641 Mn over the forecast period.
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The section – market analysis by region, includes an in-depth country level analysis of all global regions namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (excluding Japan), Japan and Middle East & Africa by type, by component, by application and countries; and provides market data in terms of value for 2012-2027. In 2017, the market in North America dominated the global structural health monitoring market followed by Western Europe. By 2027, APEJ region is anticipated to hold the highest market share of 22.1% followed by North America. The APEJ region is anticipated to exhibit the highest value CAGR and witness 4.8X growth during the forecast period.
Structural Health Monitoring Market: Key Players
Some of the companies featured in this study on the global structural health monitoring market include National Instruments Corporation, Sixense Systems, Digitexx Data Systems, Inc., Acellent Technologies, Inc., Strainstall UK Limited, Nova Metrix LLC, COWI A/S, Geocomp Corporation, Hottinger Baldwin Messtechnik GmbH, and Kinemetrics Inc.
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