Industrial Consultancy & Sponsored Research (IC&SR) , IIT Madras
Category- Non-Destructive Testing Methods & Equipment (NDT/NDE)
Industry Classification:
– NIC (2008)- 26511- Manufacture of physical properties testing and inspection equipment; 71200-Technical testing and analysis.
– NAICS (2022)- 541350- Building Inspection Services; 54138- Testing Laboratories and Services
Applications- Structural integrity assessments, material characterization and deformation analysis in real time of bridges, buildings and other applications where precise strain measurement is required.
Market report:
– The Global building inspection services market is expected to grow at a CAGR of over 10% during the forecast period of 2023-2027.
– The global strain gages market size was USD 1230.6 million in 2023 and market is projected to touch USD 1665.3 million by 2032, with a CAGR of 3.4%
– The global market for Fiber Optic Sensors was at USD 3.1 Billion in the year 2022, is projected to reach USD 6.4 Billion by 2030, growing at a CAGR of 9.5%
– The global DIC market was USD 243 million in 2023 and is projected to reach USD 350 million by 2033, with a CAGR of 3.7%
Prof. Saravanan Umakanthan
Department of Civil Engineering
TRL 4
Technology Validated in Lab