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Global Structural Health Monitoring Market Projected to Reach USD 16,601.1 Million by 2034, Driven by Increased Infrastructure Development | Future Market Insights, Inc.

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Wired SHM Systems Continue to be in High Demand on the Market, as They Remain the Most Popular Type of Structural Health Monitoring Systems.
The structural health monitoring market in United States is anticipated to develop at a CAGR of 10.90% through 2034.

NEWARK, Del., July 10, 2024 /PRNewswire/ — According to the latest industry analysis, the global structural health monitoring market size is estimated to be around USD 4,478.0 million in 2024. It is projected to exhibit a CAGR of 14.0% over the forecast period, with an estimated market size of USD 16,601.1 million by 2034.

The construction and infrastructural development sector, in the last few years, is witnessing a significant boom, especially post-pandemic. Emerging economies are investing a considerable amount of money in constructing public utilities such as bridges, roads, and flyovers. This has resulted in an exponential expansion of the market for structural health monitoring solutions.

Structural failures such as bridge collapses and weakened flyovers have also led to a massive demand for structural health monitoring solutions. Governments across the world have mandated stringent structural integrity assessments to ensure maximum public safety, which is driving the demand for these solutions. The expansion of smart and self-sufficient cities in countries like India, China, Brazil, and Singapore has also amplified the adoption of structural health monitoring equipment.

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Companies involved in the manufacturing of structural health monitoring systems are increasingly integrating artificial intelligence and machine learning algorithms for predicting the mechanical integrity of buildings. Technological advancements, such as the use of drones and unmanned aerial vehicles (UAVs) for regular inspections and surveys, have also fueled the market expansion.

“Continuous innovation is the key in this market. Companies in the structural health monitoring market must come up with new innovations, like the integration of Artificial Intelligence and Machine Learning algorithms to comprehensively assess and analyze structural data in real time,” – says Sudip Saha Managing Director and Co-Founder at Future Market Insights.

Why is the Global Market for Structural Health Monitoring Growing?

Innovative Smart Sensors and Wireless Technologies to Bolster Market Growth

As sensors improve and prototype smart sensors are used, the structural health monitoring market continues to be in high demand. A significant contribution to the monitoring of structural health can be made by MEMS, network services, and the development of wireless communication techniques. Smart sensors can handle massive volumes of data generated by monitoring systems by performing onboard operations on their embedded microprocessors, which helps them cope with the large amount of data they generate.

Wireless communication technologies have been extensively researched as a means of alleviating the shortcomings of wired sensing technologies. Traditional monitoring systems can be significantly simplified by wireless communication, which eliminates wiring problems and lowers maintenance costs. Over the next decade, structural health monitoring market demand will be driven by the use of high-tech smart sensors and wireless technology.

The structural health monitoring market is experiencing an upward trend due to growing applications in the architecture and engineering industries. Within the next decade, structural health monitoring systems are expected to see an increase in demand due to a growing focus on reducing the risk of damage to infrastructures, such as bridges, dams, and buildings.

An enhanced ability to understand the behavior of structures can be provided by structural health monitoring, as well as increased use of innovative materials, the identification of damages before they arise, the speeding up of repair and inspection processes, and smarter management and maintenance strategies can all contribute to the growth of the market as a whole. This is a key reason why the structural health monitoring market is likely to be the most important market driver over the next few years.

Key Takeaways from the Market Study

The wired structural health monitoring segment is set to dominate the structural health monitoring market with a share of 62.40% in 2024.  Based on components, the structural health monitoring software segment is on track to lead the structural health monitoring industry with a share of 38.30% in 2024. The structural health monitoring industry in China is anticipated to develop at a CAGR of 14.50% through 2034.The structural health monitoring industry in Germany is estimated to rise at a 5.50% CAGR through 2034.The structural health monitoring market in the United States has the potential to increase at 10.90% CAGR through 2034.The Germany structural health monitoring industry is predicted to rise by 5.50% CAGR through 2034.The structural health monitoring industry in Australia and New Zealand is likely to progress at a CAGR of 17.50% through 2034.

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Competitive Landscape

The structural health monitoring market includes several leading companies, such as Nova Metrix LLC, Campbell Scientific Inc., COWI, Geocomp Corporation, Acellent Technologies Inc., Sixense, Pure Technologies (Xylem, Inc.), and Digitex.

These companies specialize in offering a range of services to construction companies, both public and private.They also offer consulting and monitoring services to stakeholders in various industries such as civil engineering, construction, transportation, and energy.These companies play a crucial role in helping construction companies monitor and assess the safety and health of their buildings and infrastructure.

Other Key Players:

SGS SAKinematicsGEOKONNational Instruments CorporationLivehooahSignaGuard

Recent Developments:

ABS and Seatrium, in November 2023, achieved structural health monitoring notation for ADMARINE 686, with a digital twin for predictive maintenance.IIT Mandi and INRIA developed AI-based structural health monitoring for accurate infrastructure health prediction in September 2023.In November 2023, University of Central Florida researchers unveiled four innovations utilizing AI and virtual reality to enhance structural health monitoring. This also included their flagship ‘Virtual Visualization System’.

Energy-based infrastructural activities to provide the much-required thrust for the growth of the USA structural health monitoring market

As per the research conducted by FMI, the USA is expected to hold the maximum market share of nearly 75% in the North American market. The massive increase in the number of infrastructural activities, coupled with a massive investment in the infrastructural sector by the government, is expected to drive the structural health monitoring market in the USA.

Apart from that, a number of stakeholders who are into providing energy-based solutions to their clients have started investing heavily in structural health monitoring systems to develop solid infrastructures. This shows a bright future for the structural health monitoring market in the USA.

Moreover, increased investment in the construction sector is expected to contribute massively to the demand for structural health monitoring. Furthermore, a number of key players who are into providing structural health monitoring solutions in the USA are expected to further expedite the market growth.

Being an epicenter for Earthquakes, Japan presents huge opportunities for the structural health monitoring market

Japan has been consistently hit by earthquakes throughout its recorded history. The adoption of a structural health monitoring system ensures that the buildings remain earthquake-proof.

The Japanese investors are particularly impressed with the cost-effective maintenance of the structural health monitoring systems. This consequently reduces the construction work.

Moreover, being susceptible to the earthquake would mean wanting to have a structure that has been developed on the grounds of performance-based design philosophy. That is to say, SHM collects data on the realistic performance of the structures, which can be kept as a reference for future construction-based activities as well, which is probably a breather, especially for Japanese construction businesses.

Report Preview: https://www.futuremarketinsights.com/reports/structural-health-monitoring-market

Key Segments in the Global Structural Health Monitoring Market

By Component:

HardwareSensorsData Acquisition SystemsSoftwareDesign and AnalysisParameter Identification and TrackingServiceInstallation ServiceDesign and Consulting ServiceOperation and Maintenance Service

By Type:

Wired SystemsWireless Systems

By Application:

Bridges and DamsBuildings and StadiumsVessels and PlatformsAirframes and Wind TurbinesLarge Machines and Equipment

By Region:

North AmericaLatin AmericaEuropeAsia PacificMEA

Author By:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Zentera Systems Sponsors Zero Trust Architecture Implementation Summit, Showcasing Industry-Leading Zero Trust Strategies

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September 22, 2024

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Top Cybersecurity Experts Unite in Taiwan to Share Real-World Zero Trust Solutions and Strategies

MILPITAS, Calif., Sept. 22, 2024 /PRNewswire/ — Zentera Systems, Inc., the leader in Zero Trust Security for the digitally-transformed enterprise, today announced that it is co-sponsoring and co-hosting the Zero Trust Architecture Implementation Summit in conjunction with Taiwan National University of Science and Technology. The event will take place on October 3, 2024, at the Renaissance Taipei Hotel, and will bring together top cybersecurity leaders to explore evolving challenges and practical strategies for implementing Zero Trust architecture.

The event will feature a special keynote by Dr. Chase Cunningham (also known as “Dr. Zero Trust“) – a cybersecurity advisor to the U.S. government, former Vice President and Principal Analyst at Forrester, and a consultant on the NIST SP800-207 Zero Trust Architecture. Dr. Cunningham will be speaking on “From Revelation to Application: New Cyber Threats and the Realities of Zero Trust Implementation,” sharing his extensive experience and insights on implementing Zero Trust security. Having played a critical role in the development of the Zero Trust framework from its inception, Dr. Cunningham will help businesses and organizations understand the key challenges they may encounter during the planning and deployment process, along with the strategies and actions they should take to ensure their security frameworks are robust, effective, and adaptable to the ever-evolving cyber threats.

Dr. Jaushin Lee, Founder and CEO of Zentera Systems, will also present “From Theory to Practice: How to Make the Zero Trust Goal Actionable and Attainable.”  Lee will also moderate a panel featuring industry experts, including Robert Jin, CISO at ASUS Group, and Thomas Wan, General Manager at Ernst & Young Management Consulting Co., and Dr. Ying-Dar Lin, Deputy Director of the National Institute for Cyber Security (NICS). The panel will discuss strategies for successful Zero Trust implementation across various industries.

“As cybersecurity threats to Taiwanese industries intensify, Zero Trust offers an indispensable framework to secure digital assets. At Zentera, we are committed to providing the tools and insights necessary to help companies achieve real-world Zero Trust implementation,” said Jaushin Lee. “We are proud to contribute to this summit and help businesses transform Zero Trust theory into practice.”

The Zero Trust Architecture Implementation Summit promises to provide actionable insights for organizations looking to enhance their cybersecurity posture. Attendees will gain valuable knowledge from real-world case studies and expert discussions on overcoming the challenges of Zero Trust adoption.

Don’t miss this opportunity to learn from industry leaders. Register now for insights that will transform your Zero Trust strategy. To learn more about how Zentera’s solutions can transform your Zero Trust journey, visit our web site.

About Zentera Systems, Inc.

Zentera Systems is the leader in Zero Trust Security solutions for the digitally-transformed enterprise. Founded by experts in networking, security, and remote access, the company offers award-winning Zero Trust networking, security, and multi-cloud connectivity that overlays any fragmented infrastructure and deploys rapidly on premises or in the cloud. Global enterprises use Zentera’s products to secure employee and third-party access, protect against data leaks, and instantly defend applications in complex hybrid and IT/OT environments. The Silicon Valley-based company has received numerous recognitions, including Cool Vendor for Cloud Security by Gartner.

Press Contact: Katie Quaranta, PR Manager, +1 (949) 236-6448 x 770, https://www.zentera.net/

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DANAconnect and eSource Capital Launch PayrollTrace for Digital Payroll Compliance

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September 22, 2024

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PayrollTrace is an innovative, secure platform for paperless payroll receipt delivery, ensuring regulatory compliance and real-time traceability.

FORT LAUDERDALE, Fla., Sept. 22, 2024 /PRNewswire-PRWeb/ — DANAconnect, the leading company in automated business communications, in collaboration with eSource Capital, a prominent Google Cloud Partner in Latin America, announce the launch of PayrollTrace, an innovative platform designed for the secure and efficient digital delivery of payroll receipts, ensuring regulatory compliance and complete traceability in every transaction.

Paul Kienholz, CEO of DANAconnect, highlighted: “PayrollTrace is the next step in automating critical business processes, enabling companies to eliminate paper and manage payroll receipt deliveries with full confidence and transparency, while ensuring regulatory compliance.”

PayrollTrace automates the delivery of payroll receipts through multiple channels, including email and SMS, completely eliminating the use of paper or reliance on email. This solution not only simplifies human resources processes but also ensures regulatory compliance with verifiable technical reports that allow companies to manage and audit receipt deliveries in real time.

Paul Kienholz, CEO of DANAconnect, highlighted: “PayrollTrace is the next step in automating critical business processes, enabling companies to eliminate paper and manage payroll receipt deliveries with full confidence and transparency, while ensuring regulatory compliance.”

Juan Aguilera Franceschi, Managing Partner at eSource Capital, added: “Our partnership with DANAconnect allows us to offer companies in the region a robust solution that optimizes payroll management. PayrollTrace provides the security and flexibility companies need to manage payments efficiently and sustainably.”

The partnership between DANAconnect and eSource Capital combines DANAconnect’s strength in omnichannel business communications with eSource Capital’s expertise in cloud digital transformation. Together, they aim to provide businesses across the Americas with a comprehensive solution that not only optimizes payroll delivery but also ensures compliance with local regulations, guaranteeing that every transaction is backed by complete audits.

About DANAconnect

DANAconnect is a North American company and a leader in communication automation for financial companies through its omnichannel platform. It sends communications to more than 10% of the population of the Americas every month, ensuring secure deliveries, traceability, and large-scale regulatory compliance.

About eSource Capital

eSource Capital is a leading Google Cloud partner in Latin America, specializing in digital transformation and cloud solutions. With a focus on Google Workspace and Google Cloud, eSource Capital helps companies optimize their operations in the digital environment.

Media Contact

Fabiana Arroyo, DANAconnect Corp., 1 8556003262, info@payrolltrace.com, https://www.payrolltrace.com

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Siemon Announces Optical Patching Solutions for GenAI Networks Using NVIDIA Accelerated Computing

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10 hours ago

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September 22, 2024

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Siemon announces it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks.

WATERTOWN, Conn., Sept. 22, 2024 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in network infrastructure solutions, today announced it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks. Large complex GPU clusters can benefit from using structured cabling patch panels versus point-to-point cabling. Siemon acts as a trusted advisor to customers by providing expert advice and best practice recommendations for design & deployment of NVIDIA AI Infrastructure.

“Siemon is very familiar with NVIDIA reference architectures and has worked with many customers to design and deploy NVIDIA clusters… Siemon offers a full range of AI-ready fiber cabling, DAC, and AOC solutions that support 400G, 800G, and 1.6T applications.”

As part of the solution integration, Siemon has joined the NVIDIA Partner Network (NPN) as a Solution Advisor Consultant. NPN Solution Advisor Consultants provide consultation services and expert advice to customers looking to implement NVIDIA-based solutions or technologies. Siemon joins the network to offer its expertise in addressing the unique infrastructure and cabling challenges presented by accelerated computing.

NVIDIA optical reach specifications are calculated assuming two optical patch panels are used in the link and assuming each employ two optical connectors, which makes for a total allowance of four optical connectors in the link. The Siemon optical patching solutions meet NVIDIA requirements and provide customers with flexibility and ease of management.

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com

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