Structural Health Monitoring Market Opportunities 2031
Structural Health Monitoring Market is Expected to Grow from US$ 1,965.1 Million in 2021; it is expected to register at a compound annual growth rate (CAGR) of 14.5% During 2022-2031.
Structural health monitoring (SHM) tools are used in the design, analysis, and maintenance of civil engineering structures and systems. The catastrophic failure of infrastructure can result in the loss of lives, along with incurring huge infrastructure losses, which is one of the major factors boosting the growth of the structural health monitoring market. High investments in infrastructure; and the benefits of structural health monitoring, such as reduced maintenance costs and improved safety also favor the progress of the structural health monitoring market.
MARKET DYNAMICS
Primary purposes served by structural health monitoring include the testing & monitoring of the performance and health of large machines, turbines, airframes, and structures (bridges, buildings, dams, stadiums, etc.). The SHM equipment reduces inspection costs and improves the safety of crucial architectural structures. It also helps eliminate costly and ineffective procedures of manual inspections. However, the high costs of installation and monitoring procedures and challenges pertaining to data normalization may restrain the growth of the structural health monitoring market. However, stringent government regulations; aging infrastructures; and advancements in monitoring systems, such as wireless sensor networks, are expected to trigger the growth of the market in the coming year. In March 2021, Sherborne Sensors, a brand of Nova Metrix LLC, introduced the LSOC-D Servo series sensor, which is an inclinometer with an integrated display. The LSOC-D provides a single power supply for, both, the display and inclinometer. This sensor is majorly designed for the monitoring of bridges.
Strategic Insights
MARKET SCOPE
The "Global Structural Health Monitoring Market Analysis to 2031" is a specialized and in-depth study of the market. The report aims to provide the market overview with detailed segmentation by component, connectivity, and end user. The report also provides key statistics of the market based on the revenue performances of the market players, and describes key trends and opportunities in the structural health monitoring market.
MARKET SEGMENTATION
The structural health monitoring market is segmented on the basis of component, connectivity, and end-user. Based on component, the market is segmented into hardware, software, and services. On the basis of connectivity, the structural health monitoring market is segmented into wired structural health monitoring and wireless structural health monitoring. Further, the market, based on end user, is segmented into oil & gas, civil infrastructure, aerospace & defense, energy, mining, and others.
The report provides an overview and the forecast of the structural health monitoring market based on various segments. It also provides market size and forecast for the period of 2021–2031 with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. The structural health monitoring market, based on region, is subsegmented into respective countries and segments. The report entails the analysis and forecast of the market in 18 countries, along with current trends and opportunities prevailing in every region.
North America dominated the structural health monitoring market with ~30% share in 2021. The dominance of the region in the market is mainly due to the presence of a large number of manufacturers in this territory. A few of the key structural health monitoring manufacturers in the region include Campbell Scientific, Geokon, and Nova Metrix LLC. Government initiatives for infrastructure developments are also contributing toward the structural health monitoring market growth in North America. For instance, in 2021, the US government announced a plan of US$ 2 trillion for upgrading the country’s infrastructure (including bridges and roads). Furthermore, the US and Canada are increasingly using SHM systems for ensuring the security and safety of structures and people. The below figure showcases the revenue growth trend in the North American structural health monitoring market:
Source: The Insight Partners Analysis
The report analyses factors affecting the structural health monitoring market from both the demand and supply side, followed by explaining market dynamics, i.e., drivers, restraints, opportunities, and future trends, affecting the market growth. The report also provides an exhaustive PEST analysis, highlighting the factors affecting the structural health monitoring market in major regions.
IMPACT OF COVID-19 PANDEMIC
The demand for structural health monitoring devices dropped in the first 2–3 quarters of 2021 globally, thus leading to lower production volumes for companies manufacturing these systems and their components. A decline in the demand was majorly due to prolonged lockdowns; a pause in international trade; and hindrances in construction and maintenance activities in civil infrastructure, energy, and aerospace & defense sectors in various countries. However, the structural health monitoring market embarked on the path of recovery from 2021. The market witnessed a growth of ~9% in 2021, majorly due to infrastructure development initiatives taken by governments of different countries.
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The report provides an overview and the forecast of the structural health monitoring market based on various segments. It also provides market size and forecast for the period of 2021–2031 with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. The structural health monitoring market, based on region, is subsegmented into respective countries and segments. The report entails the analysis and forecast of the market in 18 countries, along with current trends and opportunities prevailing in every region.
North America dominated the structural health monitoring market with ~30% share in 2021. The dominance of the region in the market is mainly due to the presence of a large number of manufacturers in this territory. A few of the key structural health monitoring manufacturers in the region include Campbell Scientific, Geokon, and Nova Metrix LLC. Government initiatives for infrastructure developments are also contributing toward the structural health monitoring market growth in North America. For instance, in 2021, the US government announced a plan of US$ 2 trillion for upgrading the country’s infrastructure (including bridges and roads). Furthermore, the US and Canada are increasingly using SHM systems for ensuring the security and safety of structures and people. The below figure showcases the revenue growth trend in the North American structural health monitoring market:
Source: The Insight Partners Analysis
The report analyses factors affecting the structural health monitoring market from both the demand and supply side, followed by explaining market dynamics, i.e., drivers, restraints, opportunities, and future trends, affecting the market growth. The report also provides an exhaustive PEST analysis, highlighting the factors affecting the structural health monitoring market in major regions.
IMPACT OF COVID-19 PANDEMIC
The demand for structural health monitoring devices dropped in the first 2–3 quarters of 2021 globally, thus leading to lower production volumes for companies manufacturing these systems and their components. A decline in the demand was majorly due to prolonged lockdowns; a pause in international trade; and hindrances in construction and maintenance activities in civil infrastructure, energy, and aerospace & defense sectors in various countries. However, the structural health monitoring market embarked on the path of recovery from 2021. The market witnessed a growth of ~9% in 2021, majorly due to infrastructure development initiatives taken by governments of different countries.
MARKET PLAYERS
This report on the structural health monitoring market puts light on key developments by market players, including organic and inorganic growth strategies adopted by them. Various companies are focusing on organic growth strategies such as product launches and product approvals, along with patent filing and events. Inorganic growth strategies witnessed in the structural health monitoring market include acquisitions, and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The list of several companies functional in the structural health monitoring market is given below.
- Acellent Technologies, Inc.
- Campbell Scientific, Inc.
- Digitex
- Geocomp Corporation
- HBM
- James Fisher and Sons plc
- Kinemetrics
- Nova Ventures
- Resensys, LLC
- SIXENSE Systems
The report also includes the profiles of key structural health monitoring market companies, along with their SWOT analysis and market strategies. It also focuses on their component and service offerings, financial information (last 3 years), and key development (past 5 years).
The Insight Partner's dedicated research and analysis team consists of experienced professionals, having advanced statistical expertise. The team also offers various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Connectivity, End-User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Structural Health Monitoring Market - By Component
1.3.2 Structural Health Monitoring Market - By Connectivity
1.3.3 Structural Health Monitoring Market - By Application
1.3.4 Structural Health Monitoring Market - By End-user
1.3.5 Structural Health Monitoring Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. STRUCTURAL HEALTH MONITORING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. STRUCTURAL HEALTH MONITORING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. STRUCTURAL HEALTH MONITORING MARKET - GLOBAL MARKET ANALYSIS
6.1. STRUCTURAL HEALTH MONITORING - GLOBAL MARKET OVERVIEW
6.2. STRUCTURAL HEALTH MONITORING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. STRUCTURAL HEALTH MONITORING MARKET - REVENUE AND FORECASTS TO 2028 – COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.3.3. Sensors Market
7.3.3.1. Overview
7.3.3.2. Sensors Market Forecast and Analysis
7.3.4. Data Acquisition Systems (DAS) and Communication System Market
7.3.4.1. Overview
7.3.4.2. Data Acquisition Systems (DAS) and Communication System Market Forecast and Analysis
7.3.5. Others Market
7.3.5.1. Overview
7.3.5.2. Others Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
7.5. SERVICES
7.5.1. Overview
7.5.2. Services Market Forecast and Analysis
8. STRUCTURAL HEALTH MONITORING MARKET - REVENUE AND FORECASTS TO 2028 – CONNECTIVITY
8.1. OVERVIEW
8.2. CONNECTIVITY MARKET FORECASTS AND ANALYSIS
8.3. WIRED STRUCTURAL HEALTH MONITORING
8.3.1. Overview
8.3.2. Wired Structural Health Monitoring Market Forecast and Analysis
8.4. WIRELESS STRUCTURAL HEALTH MONITORING
8.4.1. Overview
8.4.2. Wireless Structural Health Monitoring Market Forecast and Analysis
9. STRUCTURAL HEALTH MONITORING MARKET - REVENUE AND FORECASTS TO 2028 – APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. DAMAGE DETECTION
9.3.1. Overview
9.3.2. Damage Detection Market Forecast and Analysis
9.4. CRACK DETECTION
9.4.1. Overview
9.4.2. Crack Detection Market Forecast and Analysis
9.5. IMPACT MONITORING
9.5.1. Overview
9.5.2. Impact Monitoring Market Forecast and Analysis
9.6. CORROSION MONITORING
9.6.1. Overview
9.6.2. Corrosion Monitoring Market Forecast and Analysis
9.7. STRAIN MONITORING
9.7.1. Overview
9.7.2. Strain Monitoring Market Forecast and Analysis
9.8. DEFLECTION MONITORING
9.8.1. Overview
9.8.2. Deflection Monitoring Market Forecast and Analysis
9.9. LEAKAGE DETECTION
9.9.1. Overview
9.9.2. Leakage Detection Market Forecast and Analysis
9.10. OTHERS
9.10.1. Overview
9.10.2. Others Market Forecast and Analysis
10. STRUCTURAL HEALTH MONITORING MARKET - REVENUE AND FORECASTS TO 2028 – END-USER
10.1. OVERVIEW
10.2. END-USER MARKET FORECASTS AND ANALYSIS
10.3. CIVIL
10.3.1. Overview
10.3.2. Civil Market Forecast and Analysis
10.3.3. Bridges Market
10.3.3.1. Overview
10.3.3.2. Bridges Market Forecast and Analysis
10.3.4. Tunnels Market
10.3.4.1. Overview
10.3.4.2. Tunnels Market Forecast and Analysis
10.3.5. Dams Market
10.3.5.1. Overview
10.3.5.2. Dams Market Forecast and Analysis
10.3.6. Stadiums Market
10.3.6.1. Overview
10.3.6.2. Stadiums Market Forecast and Analysis
10.3.7. Buildings Market
10.3.7.1. Overview
10.3.7.2. Buildings Market Forecast and Analysis
10.3.8. Others Market
10.3.8.1. Overview
10.3.8.2. Others Market Forecast and Analysis
10.4. OIL AND GAS
10.4.1. Overview
10.4.2. Oil and Gas Market Forecast and Analysis
10.5. AEROSPACE AND DEFENSE
10.5.1. Overview
10.5.2. Aerospace and Defense Market Forecast and Analysis
10.6. ENERGY
10.6.1. Overview
10.6.2. Energy Market Forecast and Analysis
10.7. MINING
10.7.1. Overview
10.7.2. Mining Market Forecast and Analysis
10.8. OTHERS
10.8.1. Overview
10.8.2. Others Market Forecast and Analysis
11. STRUCTURAL HEALTH MONITORING MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Structural Health Monitoring Market Overview
11.1.2 North America Structural Health Monitoring Market Forecasts and Analysis
11.1.3 North America Structural Health Monitoring Market Forecasts and Analysis - By Component
11.1.4 North America Structural Health Monitoring Market Forecasts and Analysis - By Connectivity
11.1.5 North America Structural Health Monitoring Market Forecasts and Analysis - By Application
11.1.6 North America Structural Health Monitoring Market Forecasts and Analysis - By End-user
11.1.7 North America Structural Health Monitoring Market Forecasts and Analysis - By Countries
11.1.7.1 United States Structural Health Monitoring Market
11.1.7.1.1 United States Structural Health Monitoring Market by Component
11.1.7.1.2 United States Structural Health Monitoring Market by Connectivity
11.1.7.1.3 United States Structural Health Monitoring Market by Application
11.1.7.1.4 United States Structural Health Monitoring Market by End-user
11.1.7.2 Canada Structural Health Monitoring Market
11.1.7.2.1 Canada Structural Health Monitoring Market by Component
11.1.7.2.2 Canada Structural Health Monitoring Market by Connectivity
11.1.7.2.3 Canada Structural Health Monitoring Market by Application
11.1.7.2.4 Canada Structural Health Monitoring Market by End-user
11.1.7.3 Mexico Structural Health Monitoring Market
11.1.7.3.1 Mexico Structural Health Monitoring Market by Component
11.1.7.3.2 Mexico Structural Health Monitoring Market by Connectivity
11.1.7.3.3 Mexico Structural Health Monitoring Market by Application
11.1.7.3.4 Mexico Structural Health Monitoring Market by End-user
11.2. EUROPE
11.2.1 Europe Structural Health Monitoring Market Overview
11.2.2 Europe Structural Health Monitoring Market Forecasts and Analysis
11.2.3 Europe Structural Health Monitoring Market Forecasts and Analysis - By Component
11.2.4 Europe Structural Health Monitoring Market Forecasts and Analysis - By Connectivity
11.2.5 Europe Structural Health Monitoring Market Forecasts and Analysis - By Application
11.2.6 Europe Structural Health Monitoring Market Forecasts and Analysis - By End-user
11.2.7 Europe Structural Health Monitoring Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Structural Health Monitoring Market
11.2.7.1.1 Germany Structural Health Monitoring Market by Component
11.2.7.1.2 Germany Structural Health Monitoring Market by Connectivity
11.2.7.1.3 Germany Structural Health Monitoring Market by Application
11.2.7.1.4 Germany Structural Health Monitoring Market by End-user
11.2.7.2 France Structural Health Monitoring Market
11.2.7.2.1 France Structural Health Monitoring Market by Component
11.2.7.2.2 France Structural Health Monitoring Market by Connectivity
11.2.7.2.3 France Structural Health Monitoring Market by Application
11.2.7.2.4 France Structural Health Monitoring Market by End-user
11.2.7.3 Italy Structural Health Monitoring Market
11.2.7.3.1 Italy Structural Health Monitoring Market by Component
11.2.7.3.2 Italy Structural Health Monitoring Market by Connectivity
11.2.7.3.3 Italy Structural Health Monitoring Market by Application
11.2.7.3.4 Italy Structural Health Monitoring Market by End-user
11.2.7.4 United Kingdom Structural Health Monitoring Market
11.2.7.4.1 United Kingdom Structural Health Monitoring Market by Component
11.2.7.4.2 United Kingdom Structural Health Monitoring Market by Connectivity
11.2.7.4.3 United Kingdom Structural Health Monitoring Market by Application
11.2.7.4.4 United Kingdom Structural Health Monitoring Market by End-user
11.2.7.5 Rest of Europe Structural Health Monitoring Market
11.2.7.5.1 Rest of Europe Structural Health Monitoring Market by Component
11.2.7.5.2 Rest of Europe Structural Health Monitoring Market by Connectivity
11.2.7.5.3 Rest of Europe Structural Health Monitoring Market by Application
11.2.7.5.4 Rest of Europe Structural Health Monitoring Market by End-user
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Structural Health Monitoring Market Overview
11.3.2 Asia-Pacific Structural Health Monitoring Market Forecasts and Analysis
11.3.3 Asia-Pacific Structural Health Monitoring Market Forecasts and Analysis - By Component
11.3.4 Asia-Pacific Structural Health Monitoring Market Forecasts and Analysis - By Connectivity
11.3.5 Asia-Pacific Structural Health Monitoring Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Structural Health Monitoring Market Forecasts and Analysis - By End-user
11.3.7 Asia-Pacific Structural Health Monitoring Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Structural Health Monitoring Market
11.3.7.1.1 Australia Structural Health Monitoring Market by Component
11.3.7.1.2 Australia Structural Health Monitoring Market by Connectivity
11.3.7.1.3 Australia Structural Health Monitoring Market by Application
11.3.7.1.4 Australia Structural Health Monitoring Market by End-user
11.3.7.2 China Structural Health Monitoring Market
11.3.7.2.1 China Structural Health Monitoring Market by Component
11.3.7.2.2 China Structural Health Monitoring Market by Connectivity
11.3.7.2.3 China Structural Health Monitoring Market by Application
11.3.7.2.4 China Structural Health Monitoring Market by End-user
11.3.7.3 India Structural Health Monitoring Market
11.3.7.3.1 India Structural Health Monitoring Market by Component
11.3.7.3.2 India Structural Health Monitoring Market by Connectivity
11.3.7.3.3 India Structural Health Monitoring Market by Application
11.3.7.3.4 India Structural Health Monitoring Market by End-user
11.3.7.4 Japan Structural Health Monitoring Market
11.3.7.4.1 Japan Structural Health Monitoring Market by Component
11.3.7.4.2 Japan Structural Health Monitoring Market by Connectivity
11.3.7.4.3 Japan Structural Health Monitoring Market by Application
11.3.7.4.4 Japan Structural Health Monitoring Market by End-user
11.3.7.5 South Korea Structural Health Monitoring Market
11.3.7.5.1 South Korea Structural Health Monitoring Market by Component
11.3.7.5.2 South Korea Structural Health Monitoring Market by Connectivity
11.3.7.5.3 South Korea Structural Health Monitoring Market by Application
11.3.7.5.4 South Korea Structural Health Monitoring Market by End-user
11.3.7.6 Rest of Asia-Pacific Structural Health Monitoring Market
11.3.7.6.1 Rest of Asia-Pacific Structural Health Monitoring Market by Component
11.3.7.6.2 Rest of Asia-Pacific Structural Health Monitoring Market by Connectivity
11.3.7.6.3 Rest of Asia-Pacific Structural Health Monitoring Market by Application
11.3.7.6.4 Rest of Asia-Pacific Structural Health Monitoring Market by End-user
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Structural Health Monitoring Market Overview
11.4.2 Middle East and Africa Structural Health Monitoring Market Forecasts and Analysis
11.4.3 Middle East and Africa Structural Health Monitoring Market Forecasts and Analysis - By Component
11.4.4 Middle East and Africa Structural Health Monitoring Market Forecasts and Analysis - By Connectivity
11.4.5 Middle East and Africa Structural Health Monitoring Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Structural Health Monitoring Market Forecasts and Analysis - By End-user
11.4.7 Middle East and Africa Structural Health Monitoring Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Structural Health Monitoring Market
11.4.7.1.1 South Africa Structural Health Monitoring Market by Component
11.4.7.1.2 South Africa Structural Health Monitoring Market by Connectivity
11.4.7.1.3 South Africa Structural Health Monitoring Market by Application
11.4.7.1.4 South Africa Structural Health Monitoring Market by End-user
11.4.7.2 Saudi Arabia Structural Health Monitoring Market
11.4.7.2.1 Saudi Arabia Structural Health Monitoring Market by Component
11.4.7.2.2 Saudi Arabia Structural Health Monitoring Market by Connectivity
11.4.7.2.3 Saudi Arabia Structural Health Monitoring Market by Application
11.4.7.2.4 Saudi Arabia Structural Health Monitoring Market by End-user
11.4.7.3 U.A.E Structural Health Monitoring Market
11.4.7.3.1 U.A.E Structural Health Monitoring Market by Component
11.4.7.3.2 U.A.E Structural Health Monitoring Market by Connectivity
11.4.7.3.3 U.A.E Structural Health Monitoring Market by Application
11.4.7.3.4 U.A.E Structural Health Monitoring Market by End-user
11.4.7.4 Rest of Middle East and Africa Structural Health Monitoring Market
11.4.7.4.1 Rest of Middle East and Africa Structural Health Monitoring Market by Component
11.4.7.4.2 Rest of Middle East and Africa Structural Health Monitoring Market by Connectivity
11.4.7.4.3 Rest of Middle East and Africa Structural Health Monitoring Market by Application
11.4.7.4.4 Rest of Middle East and Africa Structural Health Monitoring Market by End-user
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Structural Health Monitoring Market Overview
11.5.2 South and Central America Structural Health Monitoring Market Forecasts and Analysis
11.5.3 South and Central America Structural Health Monitoring Market Forecasts and Analysis - By Component
11.5.4 South and Central America Structural Health Monitoring Market Forecasts and Analysis - By Connectivity
11.5.5 South and Central America Structural Health Monitoring Market Forecasts and Analysis - By Application
11.5.6 South and Central America Structural Health Monitoring Market Forecasts and Analysis - By End-user
11.5.7 South and Central America Structural Health Monitoring Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Structural Health Monitoring Market
11.5.7.1.1 Brazil Structural Health Monitoring Market by Component
11.5.7.1.2 Brazil Structural Health Monitoring Market by Connectivity
11.5.7.1.3 Brazil Structural Health Monitoring Market by Application
11.5.7.1.4 Brazil Structural Health Monitoring Market by End-user
11.5.7.2 Argentina Structural Health Monitoring Market
11.5.7.2.1 Argentina Structural Health Monitoring Market by Component
11.5.7.2.2 Argentina Structural Health Monitoring Market by Connectivity
11.5.7.2.3 Argentina Structural Health Monitoring Market by Application
11.5.7.2.4 Argentina Structural Health Monitoring Market by End-user
11.5.7.3 Rest of South and Central America Structural Health Monitoring Market
11.5.7.3.1 Rest of South and Central America Structural Health Monitoring Market by Component
11.5.7.3.2 Rest of South and Central America Structural Health Monitoring Market by Connectivity
11.5.7.3.3 Rest of South and Central America Structural Health Monitoring Market by Application
11.5.7.3.4 Rest of South and Central America Structural Health Monitoring Market by End-user
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. STRUCTURAL HEALTH MONITORING MARKET, KEY COMPANY PROFILES
13.1. ACELLENT TECHNOLOGIES, INC.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. CAMPBELL SCIENTIFIC, INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. DIGITEX
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. GEOCOMP CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. HBM
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. JAMES FISHER AND SONS PLC
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. KINEMETRICS, INC.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. NOVA METRIX LLC (NOVA VENTURES GROUP CORP.)
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. RESENSYS, LLC
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. SIXENSE SYSTEMS
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. Acellent Technologies, Inc.
2. Campbell Scientific, Inc.
3. Digitex
4. Geocomp Corporation
5. HBM
6. James Fisher and Sons plc
7. Kinemetrics, Inc.
8. Nova Metrix LLC (Nova Ventures Group Corp.)
9. Resensys, LLC
10. SIXENSE Systems
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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