Structural health monitoring becomes an essential strategy as climate change meets aging infrastructure
NEW YORK, November 28, 2023 /PRNewswire/ — Governments are increasingly eager to meet the growing maintenance needs of aging critical infrastructure, including railways, bridges, mines, dams and older buildings. Safety concerns, amplified by disastrous incidents like the Morandi Bridge collapse in 2018, which claimed 43 lives and a staggering number of casualties. 450 million US dollars in terms of damage, have given rise to a preference for “predictive maintenance” approaches over “post-failure maintenance” approaches. The increase in extreme weather events linked to climate change has also exposed additional vulnerabilities in aging and strained post-war infrastructure. A wider variety of sensor types and connectivity along with more advanced data analysis software platforms are enabling the structural health monitoring (SHM) market to grow. According to a global technology monitoring company ABI SearchSHM sensors will reach 22.9 million connections by 2030, with a CAGR of 18% for retrofitted wired sensors and 28% for retrofitted wireless sensors.
“The greater variety of IoT sensor hardware has made it much easier for asset owners to integrate sensors into their operations, abandoning expensive, bulky implementations in favor of less expensive, easy-to-install solutions,” says Maryam Zafar, IoT market analyst at ABI Research. “Vendors are increasingly investing in software and analytics platforms to extract meaningful insights from large volumes of data. Improved software intelligence is essential, providing actionable insights that add significant value and enable more effective predictive maintenance.
Innovation is happening on two fronts in the SHM market. First, this is happening at the hardware edge, with a shift to smaller data loggers and DAQs, greater edge processing capabilities, and a greater variety of sensors and technologies. Second, this happens with software. Many businesses are looking for an analytics platform, often compatible with other third-party sensors. Vendors are also interested in seeing how artificial intelligence (AI) can improve predictive capabilities and generate more value for asset owners and managers. Companies that lead the market and drive innovation include World Detection, Campbell Scientist, Rite Encardio, GEO-Instruments, Hottinger Bruel & Kjaer (HBK), and Bentley Systems.
One of the largest markets for SHM is the rail industry, as demand for rail transportation is expected to double over the next two decades. As demand for passenger and freight transportation increases, so does the need to prevent delays. By digitizing rail infrastructure and monitoring critical areas, such as train tracks, switches and grades, rail operators know when failures will occur and can implement more effective predictive maintenance strategies. Wireless sensor technology is key here, with vendors like KONUX And Sensitive make its mark on this market.
“The lack of awareness of this market, combined with expensive technologies, means that this market has so far seen low penetration. New technologies are expected to change this, moving from end-of-life maintenance to solutions designed in projects,” says Zafar. “Technology providers need to ensure they take advantage of new technology opportunities and understand how they should position themselves to target the wide variety of markets within the SHM ecosystem.
These results come from the ABI Research study IoT Solutions for Structural Health Monitoring in Critical Infrastructure application analysis report. This report is part of the company report IoT Markets research service, which includes research, data and ABI Insights. Based on in-depth primary interviews, The reports present an in-depth analysis of key market trends and factors for a specific application, which could focus on a specific market or geography.
About ABI Research
ABI Research is a global technology intelligence company providing actionable research and strategic advice to technology leaders, innovators and policymakers around the world. Our research focuses on transformative technologies that are radically reshaping industries, economies, and workforces today.
ABI Research is a global technology intelligence company that provides practical market research and strategic advice to global technology leaders, innovators and decision-makers. We pay special attention to all innovations and technologies that bring disruptive changes in various industries, in the global economy and in the job market.
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SOURCE ABI Research
