The global structural health monitoring market size is expected to grow from USD 1,378.4 million in 2021 to USD 2,940.1 million by 2026 at a CAGR of 13.5%.

The main causes of market growth are overuse and overhaul of public infrastructure in the post-COVID-19 era, loss of life and finances due to catastrophic infrastructure failures in recent years, increasing investment in infrastructure around the world, strict laws government policy on sustainability, aging infrastructure, and higher benefits associated with health monitoring, and a reduction in the cost of health monitoring programs.

The structural health monitoring market is expected to see a decline in the year 2020 as major construction, maintenance, and repair of public infrastructure, aerospace and defense, and energy sectors in various countries halted the first half of 2020 to contain the virus. Companies in the structural health monitoring market have seen a decline in demand for monitoring devices due to the COVID-19 epidemic. However, the market may begin to recover gradually from the end of 2020 as governments resume infrastructure development work to reduce the level of unemployment caused by the COVID-19 epidemic. In addition, suspension of aviation operations due to international travel restrictions could increase retention, maintenance, and adjustment of operations in the aviation sector.

The construction industry has seen a gradual shift toward digitization and automation of its key processes, such as maintenance and repair, in recent years. The epidemic severely disrupted the productivity and productivity of construction workers, as the need to contract under conditions of demolition and overwork has resulted in a loss of time and money. Therefore, the tendency to deal with automation of key processes and remote operating solutions is increasing. The gradual increase in suspension and automation of repairs and repairs is expected to increase the practice of working remotely, which could impact change in the construction industry. Qualified employees can exercise their control and perform their duties remotely with sufficient information about the installed systems without compromising on quality and control. The automation and automation of the maintenance and repair of infrastructure through digitalization and the use of smart sensors will allow the solutions to be more flexible and able to withstand unpleasant moments like the COVID-19 epidemic.

The cost of structural health monitoring solutions is increasing in scope, adjustment, accuracy, precision, and duplication. While health monitoring programs help save costs in the future, the costs involved in installing and monitoring are very high, largely due to advanced sensors, software, and sophisticated data acquisition systems. The costs involved in deploying a structural health monitoring solution include the cost of hardware, software, and services that rely heavily on building complexity and construction costs. More complex structures require more efficient metal solutions, which increase overall costs. In addition, the cost of monitoring involved is very high.

As structural health monitoring solutions become more complex, there are new avenues for integrated technologies, which help integrate hardware, namely, sensors, communication modules, and data acquisition systems, where software is used to analyze the acquired monitoring data. The integration method is the best health monitoring tool because it is not possible to monitor the overall health of the structure using only one procedure. Therefore, many major players are focused on building cost-effective health monitoring solutions where electricity, magnetic, thermal, and other physical variables, chemical variables, and many technologies are combined to provide accurate results, which may increase the acceptance of integrated structural health monitoring solutions.

Almost all infrastructure projects present a unique set of critical boundaries. The operator or designer must identify those parameters and select the measuring instruments. In addition to measuring and evaluating structural health monitoring solutions, skilled personnel is required as decisions regarding the structural health monitoring process depend on the type of metal, specificity, scope, adjustment, and accuracy of measurement. In addition, the details required during the construction and post-construction phases also vary from site to building. In some cases, monitoring one parameter is sufficient, but in the case of complex cases, monitoring the various parameters, the correlation between them is very important. This needs to be done by skilled workers. Therefore, the shortage of skilled workers in the APAC region, the high cost of labor in the US and Europe is expected to be major challenges for structural health monitoring solutions providers.

The structural health monitoring market for the computer hardware segment is expected to dominate between 2020 and 2026. Hardware components are an integral part of structural health monitoring. These components measure various physical properties such as the strain, deformation, and tilt of any visible structure. Based on the information obtained from the various computer systems, decisions are made regarding a particular building. Hardware includes various sensors, DAS, and other communication devices. Therefore, this segment is expected to hold a large share during the forecast period.

At present, wired monitoring systems are already being used widely for the comprehensive inspection of many buildings such as bridges, buildings, and dams. The wireless structural health monitoring describes the communication technology between the sensors, the data acquisition system (DAS), and other communication devices connected with the help of lead wires, co-axial cables, optical fibers, and other wired communication technologies. Wired techniques are widely used in the installation of structural health monitorings built over decades. Currently, the cable monitoring system is widely used as it offers certain advantages such as data reduction, operating speed, no limit on transmission distance, and higher bandwidth of the system.

Civil infrastructure includes bridges, dams, tunnels, highways, and buildings. Currently, major countries in various regions such as the US, UK, Germany, Japan, China, India, Qatar, and Saudi Arabia are investing heavily in building infrastructure, which ultimately supports economic growth. For example, Louisiana has embarked on a project to expand the I-10 in the capital region. The Louisiana Department of Transport in June 2020 announced a project to expand the I-10 from LA-415 in West Baton Rouge Parish to the division of I-10/12 in East Baton Rouge Parish. In addition, another major construction project to be considered in 2020 is the development of human transportation in New York City. Industry viewers have an eye on the USD 11.3 billion replacement project for the Gateway Tunnel connecting New York and New Jersey. Therefore, the growing public infrastructure is expected to increase the demand for structural health monitoring in order to maintain and monitor the state of each public infrastructure and to avoid catastrophic failures.

The US dominates the structural health monitoring market with the largest share and is expected to follow the same trend during the forecast period. The largest share of the American market is due to the government's high focus on the repair and maintenance of public and aviation infrastructure. The market may see a downturn due to the outbreak of the COVID-19 epidemic, but the recovery expected in 2021 is expected to reduce locks.

Key aspects of market growth in the US include aging infrastructure, support from various regional governments, and increased demand for effective infrastructure maintenance solutions. In addition, according to the Federal Highway Administration (FHWA) in the US, more than 30% of buildings, such as bridges and tunnels, have exceeded their 50 years of design life. Therefore, to increase public safety and improve the health of the building, the development of structural health monitoring is a necessity. Such factors will continue to contribute to market growth in the Americas.

Some of the prominent players in the structural health monitoring market are Hottinger Baldwin Messtechnik GmbH, Nova Metrix, Pure Technologies, Strainstall UK, Bridge Diagnostics, COWI, RST Instruments, GEOKON, First Sensor, SGS, Kinemetrics, Campbell Scientific, AVT Reliability, Geocomp, Structural Monitoring Systems, Acellent Technologies, Sixense, Sisgeo, Digitex Systems, and Geomotion Singapore.