The preservation of critical infrastructural projects usually requires the implementation of Structural Health Monitoring Systems in South Korea

Considerations about the safety of engineering structures and critical infrastructure are unavoidable, as damage to the latter has a significant economic impact on both live people and property. As a result, concerns about damage safeguards are one of the major drivers of revenue in the Structural Health Monitoring Market in Korea. The lowering of essential maintenance costs for engineering structures, as well as the protection of life and property, are some of the major drivers cruising the overall structural health monitoring market.

Bridges, water, wind, and solar energy plants, gas and oil pipelines, oil rigs, tunnels, pavements, tracks, and other structures, as well as ships, aircraft, trains, and other vehicles, are all subjected to internal and external aspects that can induce wear and malfunction.

The spending capacity of a developing country like Korea improves as a result of these finances, which would aid the overall growth of the global structural health monitoring market over the forecast years via various infrastructure projects.

The goal of Structural performance assessment is to provide a real-time assessment of the structure’s health and detect any changes that could lead to potential failure. The process typically involves the installation of sensors or other monitoring equipment on the structure, such as strain gauges, accelerometers, or temperature sensors. These sensors collect data on various aspects of the structure’s performance, such as its deflection, vibration, or strain.

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New infrastructure should include structural monitoring systems since they can ensure the building’s safety by observing aspects such as damage identification, deformation detection, impact monitoring, and corrosion monitoring. These variables facilitate early issue detection and lower maintenance and replacement costs.

The structural health monitoring market is expanding as a result of quickly crumbling infrastructure and the rising population in this nation. Furthermore, as awareness of the advantages of SHM has grown in the Asia-Pacific region, several governments have increased their focus on structural health monitoring in Korea.

Furthermore, because sensors must be installed in structures, they are expected to be in great supply. Accelerometers, displacement detectors, inclinometers, tiltmeters, pressure sensors, corrosion detectors, temperature sensors, acoustic sensors, and ultrasonic sensors are examples of such devices. Furthermore, the growing emphasis on advanced materials and the increasing use of smart materials equipped with sensors are driving sales growth in this classification in Korea.

Key Takeaways

• The accessibility of low-cost sensors is expected to spur growth in the global structural health monitoring market in Korea over the projected timeframe.
• Over the forthcoming years, the global structural health monitoring market is predicted to be hampered by a shortage of skilled professionals.
• Integration of the SHM system with mass notification systems (MNS) will generate significant business opportunities.
• The primary solution providers are concentrating on low-cost energy harvesting monitoring systems.
• In 2020, the Wired SHM System sub-segment influenced the Korean market.

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Competitive Landscape:

• Nova Metrix LLC
• Campbell Scientific, Inc.
• COWI
• Geocomp Corporation
• Acellent Technologies, Inc.
• Sixense
• Pure Technologies (Xylem, Inc.)
• Digitex
• SGS SA
• Kinematrics
• GEOKON
• National Instruments Corporation
• Livehooah
• SignaGuard
• Others

Industry participants intend to invest in technological advancements, mergers and acquisitions, new product launches, and research and development. Furthermore, they are likely to place a greater emphasis on investing in new developments and products to expand their market reach in Korea.

Recent Developments

CSSE, Korea’s leading structural health monitoring consulting firm, provides building health monitoring systems on numerous construction sites as well as complete systems to cooperate with codes and standards and safe operation legislation.

When it comes to earthquake safety, South Korea is very conscientious, with several monitored structures throughout the country. The Gwangan Bridge, also known as the Diamond Bridge, is a double-deck, earth-anchored suspension bridge that links Haeundae District to Suyeong District in Busan, South Korea. The Gwangan Bridge has a bridge structural health monitoring system, although it was determined that the aging system needed to be upgraded.

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Key Segments Profiled in the Global Structural Health Monitoring Market

Structural Health Monitoring Market by Component:

• Structural Health Monitoring in Hardware
  • Structural Health Monitoring in Sensors
  • Structural Health Monitoring in Data Acquisition Systems
  • Structural Health Monitoring in Others
• Structural Health Monitoring in Software
  • Structural Health Monitoring in Design and Analysis
  • Structural Health Monitoring in Parameter Identification and Tracking
  • Structural Health Monitoring in Others
• Structural Health Monitoring in Service
  • Structural Health Monitoring in Installation Service
  • Structural Health Monitoring in Design and Consulting Service
  • Structural Health Monitoring in Operation and Maintenance Service

Structural Health Monitoring Market by Type:

• Wired Structural Health Monitoring Systems
• Wireless Structural Health Monitoring Systems

Structural Health Monitoring Market by Application:

• Structural Health Monitoring for Bridges and Dams
• Structural Health Monitoring for Building and Stadiums
• Structural Health Monitoring for Vessels and Platforms
• Structural Health Monitoring for Airframes and Wind Turbines
• Structural Health Monitoring for Large Machines and Equipments

Have a Look at Related Research Reports of the Healthcare Domain:

• https://community.wongcw.com/blogs/362365/Veterinary-Infectious-Disease-Diagnostics-Market-is-expected-to-reach-a
• https://vocal.media/stories/veterinary-infectious-disease-diagnostics-market-is-expected-to-reach-a-valuation-of-us-4-9-billion-by-2033
• https://marketresearch01.hashnode.dev/veterinary-infectious-disease-diagnostics-market-is-expected-to-reach-a-valuation-of-us-49-billion-by-2033

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