Structural Health Monitoring Market Worth 3.38 billion USD by 2023 - Seite 2

The market for software and services expected to grow at a higher rate between 2018 and 2023 

With the increasing importance of large civil projects and frequent occurrences of structural failure, structural health monitoring systems are becoming more and more crucial. The basic approach of any structural health monitoring system is to continuously collect the data (over the longer period of time) about the overall condition of the structure from various installed sensors. This sensory data includes loading, stress, strain, acceleration, temperature, and video signal, among others. Furthermore, it is challenging for structural engineers to obtain, process, store, and analyze such a huge volume of data. To resolve this challenge, the software platform, customized software applications, and software algorithms are being adopted. For example, software such as MATLAB and SCADA play a crucial role in the early damage detection; they determine the damage at an early stage and facilitate necessary repair to maintain a high level of safety.

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Americas expected to hold the largest share of the structural health monitoring market by 2023 

The increased use of monitoring systems in the US is the key factor behind the market growth in the Americas. The governments of South and North American countries are taking initiatives toward the adoption of monitoring systems in different applications. The aging infrastructure in the US and fast-growing infrastructure facilities in Brazil and Canada are driving the market growth in this region.

A few major players in the structural health monitoring market are COWI (Denmark), Pure Technologies (Canada), Structural Monitoring Systems (Australia), Acellent (US), Geocomp (US), Campbell Scientific (US), Nova Metrix (US), Geokon (US), SIXENSE (France), Digitexx (US), Bridge Diagnostics (US), Sisgeo (Italy), RST Instruments (Canada), AVT Reliability (UK), and Geomotion Singapore (Singapore).

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