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Structural health monitoring market is expected to reach $3,965 million, globally, by 2023 according to new research report

Industrial Market Research

Structural Health Monitoring Market size was valued at $1,133 million in 2016, and is projected to reach $3,965 million by 2023, growing at a CAGR of 18.9% from 2017 to 2023. The civil industry accounted for nearly half of the total structural health monitoring market in 2016.

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Factors that drive the growth of the global structural health monitoring market are rapid increase in construction activities and the growth in need for continuous monitoring of the structure. In addition, growth in infrastructure investments and advances in wireless sensor networks provides opportunities for the global structural health monitoring market.

However, high implementation cost and challenges concerning data normalization are some of the factors that restrain the structural health monitoring market growth.

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