Technological Advancements Propel the SHM Market:
Technological advancements have played a pivotal role in reshaping the SHM market. Recent years have witnessed remarkable developments in SHM sensors, hardware, and software. The increased availability and reduced costs of these sensors have made SHM solutions more accessible. Advanced sensors enable the surveillance and assessment of infrastructural and engineering structures, helping in the early detection of issues. This, in turn, addresses safety concerns and lowers maintenance costs, driving the growth of the SHM market.
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Construction Sector Expansion and Safety Emphasis:
The construction sector’s rapid growth and urbanization have been key drivers of the SHM market. As urban areas expand, the demand for infrastructure development, including bridges, power plants, and smart cities, has surged. Governments and organizations are increasingly focused on ensuring the safety of these structures, protecting heritage sites, and mitigating financial losses due to structural deterioration. Consequently, the SHM market has gained prominence, as it offers a proactive approach to monitoring and maintaining infrastructural integrity.
COVID-19 Pandemic’s Impact and Market Resilience:
The COVID-19 pandemic briefly disrupted construction activities worldwide, affecting the SHM market. Lockdowns and restrictions halted construction projects temporarily. However, governments later allowed construction activities to resume with safety protocols in place. The pandemic underscored the importance of remote monitoring and real-time data analysis, driving the adoption of digital solutions in the SHM market. Despite the setback, the market has shown resilience and is poised for recovery and continued growth.