Structural Health Monitoring Market Worth 3.38 billion USD by 2023

PUNE, India, July 23, 2018 /PRNewswire/ --

According to the new market research report "Structural Health Monitoring Market by Technology (Wired and Wireless), Offering (Hardware (Sensors, Data Acquisition Systems) and Software & Services), Vertical (Civil Infrastructure, Energy), Application, and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the market is estimated to grow from USD 1.48 billion in 2018 to USD 3.38 billion by 2023, at a CAGR of 17.93% between 2018 and 2023. The major factors driving the growth of the structural health monitoring market include the catastrophic failure of the infrastructure that results in loss of lives and incurs higher costs, stringent government regulations pertaining to the sustainability of structures, and aging infrastructures and the superior benefits of structural health monitoring.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Browse 69 market data Tables and 47 Figures spread through 171 Pages and in-depth TOC on "Structural Health Monitoring Market - Global Forecast to 2023"

https://www.marketsandmarkets.com/Market-Reports/structural-health-monitoring-market-101431220.html

Early buyers will receive 10% customization on this report

The civil infrastructure segment expected to hold the largest share of the structural health monitoring market by 2023 

Civil infrastructure facilities include numerous critical structures, such as bridges, dams, tunnels, highways, and buildings. All these structures are directly related to the overall demographic and economic growth of any country. Therefore, many governments are taking initiatives to monitor the overall health of the structure. Also, at present, major countries in different regions such as the US, the UK, Germany, Japan, China, India, Qatar, and Saudi Arabia are heavily investing in building new infrastructural facilities, thereby ultimately growing their economy of the country. For such increasing infrastructure facilities, there would be growing opportunities for the structural health monitoring market players.