Structural Health Monitoring Systems Market Global to Forecast 2024 by Key Players – Geocomp, Geokon, Nova Metrix LLC, Digitexx Data Systems, National Instruments, Kinemetrics
A rapid expansion in the infrastructure sector is poised to drive the market. Increasing government initiatives towards SHM system standardization and public safety are also boosting market growth. Stringent regulations pertaining to sustainability of structures and declining cost of sensors are projected to provide a fillip to the market. Structural health monitoring is a tool that enables civil engineers to reduce maintenance cost and improve safety measures of crucial architectural structures. Fundamental functions performed by SHM systems include testing and monitoring of performance and health of large machines, airframes, turbines, and structures such as buildings, bridges, dams, and stadiums. Growing investments in infrastructural development and government regulations mandating implementation of sensors and data acquisition systems to monitor structure health are expected to augment the market. Increasing age of existing bridges and dams and rising focus on in...