Europe Structural Health Monitoring Market Size study, by Solution (Hardware, Software, Services), by Technology (Wired SHM, Wireless SHM), by Application (Bridges & Dams, Buildings & Stadiums, Vessels & Platforms, Airframes & Wind Turbines, Large Machine

Europe Structural Health Monitoring Market Size study, by Solution (Hardware, Software, Services), by Technology (Wired SHM, Wireless SHM), by Application (Bridges & Dams, Buildings & Stadiums, Vessels & Platforms, Airframes & Wind Turbines, Large Machines & Equipment) and Country Forecasts 2022-2032

Europe Structural Health Monitoring Market is valued at approximately USD 898.88 million in 2023 and is anticipated to grow with a healthy growth rate of more than 18.32% over the forecast period 2024-2032. Structural Health Monitoring (SHM) is the continuous real-time monitoring and assessment of structural integrity in various infrastructure elements such as buildings, bridges, and pipelines. SHM intends to detect and diagnose structural faults using sensors and advanced data processing techniques, improving safety, dependability, and durability while lowering maintenance costs and downtime. In Europe, structural health monitoring components find predominant application in infrastructure projects, significantly bridges and dams, within the construction industry. Moreover, the integration of these solutions with Internet of Things (IoT) devices facilitates the real-time analysis of pollution levels. This integration is expected to foster demand for the Europe Structural Health Monitoring Market.

Europe is poised to experience a substantial uptake in the Structural Health Monitoring Market, propelled by an intensified focus on ensuring the safety of aging infrastructure throughout the region. Additionally, Structural Health Monitoring (SHM) systems offer opportunities for cost reduction in inspection procedures across diverse end-user sectors. The unwavering commitment of European governments to the advancement and adoption of cutting-edge technology acts as a pivotal driver for the heightened adoption of structural health monitoring systems. These proactive measures undertaken by European authorities significantly contribute to the expansion of the Europe Structural Health Monitoring Market. However, the large initial expenditure necessary for the acquisition and installation of structural health monitoring systems, combined with the difficulty of integrating them into existing infrastructure and legacy systems, offer significant impediments to market expansion. Overcoming these barriers is critical for enterprises in the European Structural Health Monitoring Market to achieve attractive returns in the next years.

The key countries considered for the Europe Structural Health Monitoring market study includes UK, Germany, France, Italy, Spain, and Rest of Europe. In 2023, Germany was the largest market. It boasts numerous aging buildings and structures, spanning both private and public domains. These properties frequently necessitate extensive renovations and structural enhancements to align with contemporary safety norms. Consequently, there has been a surge in demand for structural health monitoring systems in Germany. Furthermore, the pace of industrialization has compelled construction firms to embrace SHM systems for routine assessments of building conditions. Whereas, the United Kingdom is expected to grow with the highest CAGR during the forecast period 2024-2032.

Major market player included in this report are:

COWI A/S

GeoSIG Ltd

Hottinger Brüel & Kjær

James Fisher and Sons plc.

Sixense

Company 6

Company 7

Company 8

Company 9

Company 10

The detailed segments and sub-segment of the market are explained below:

By Solution

Hardware

Software

Services

By Technology

Wired SHM

Wireless SHM

By Application

Bridges & Dams

Buildings & Stadiums

Vessels & Platforms

Airframes & Wind Turbines

Large Machines & Equipment

 

By Region:

Europe

UK

Germany

France

Spain

Italy

ROE

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and Country level analysis for each market segment.

Detailed analysis of geographical landscape with Country level analysis.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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