UTP’s structural health monitoring technology has achieved significant industry recognition, winning prestigious awards such as the Spotlight on New Technology Award at OTC Asia 2024 and a silver medal at the International Exhibition of Inventions Geneva. This successful industry-academia collaboration has had a profound impact on Dasit, boosting its revenues by six times between 2019 and 2023.
The global structural health monitoring market is experiencing rapid growth, with Future Market Insights projecting an increase from $3.4 billion in 2022 to $13.15 billion by 2032, at a compound annual growth rate of 14.5%. To meet this rising demand, Dasit has expanded its portfolio with cutting-edge innovations such as STELLAR, INSPIRE, FFS, STS, CoRIMS, and TechVision for confined space robotic inspection.
The applications of structural health monitoring are extending beyond the oil and gas sector into industries like marine, construction, and rail transport. This diversification, combined with advancements in infrastructure such as faster internet speeds and enhanced computing power, is fueling optimism about the industry’s future.
Abdul Rahim from UTP envisions tremendous potential for growth in this sector and forecasts that the centre’s revenue will reach RM25 million in 2024. He emphasizes that structural health monitoring is still in its early stages of development, offering vast opportunities for innovation and expansion in the coming years.
For more insights, read the full article on The Star.
