( MENAFN - GetNews) "Structural health Monitoring Market"Structural Health Monitoring market size was valued at USD 2.43 billion in 2023 to USD 5.32 billion by 2031, growing at a CAGR of 10.
30% during the forecast period (2024-2031). Structural Health Monitoring Market size was valued at USD 2.20 billion in 2022 and is poised to grow from USD 2.
43 billion in 2023 to USD 5.32 billion by 2031, growing at a CAGR of 10.30% during the forecast period (2024-2031).
High growth in the infrastructure sector is expected to be the primary driver for the structural health monitoring market. Government initiatives in public safety and standardization of SHM systems are motivating the sector's growth. Moreover, stringent regulations of buildings on environmental friendliness and declining costs of sensors are predicted to boost the industry.
Natural catastrophes and the construction of new infrastructures have led to an increased pressure of making legislations regarding SHM from governments around the globe. This is expected to boost the industry. Growth in the industry through the vast demand in distributed optical fiber and cheap energy harvesting equipment is being witnessed.
Infrastructures with economically cost construction and maintenance lead to the industry's expansion. Request your free sample PDF of the report today : Shift to Automated Data Collection in Structural Health Monitoring Both the timeliness and accuracy of data are highly required in managing and developing critica.
