Portland, OR -- (SBWIRE) -- 06/01/2018 -- Global Structural Health Monitoring Market size was valued at $1,133 million in 2016, and is expected to reach at $3,965 million by 2023, registering a CAGR of 18.9% from 2017 to 2023. Over the years, structural health monitoring (SHM) technologies have emerged as an exciting new field within civil engineering. SHM has become an important tool in the design, analysis, and maintenance of modern civil engineering structures and systems.

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Structural health monitoring (SHM) is a process aimed at providing accurate and timely information about the condition and performance of a building structure. It can either be a short- or a long-term process. In developing countries, such as China and India, owing to negligence and non-availability of technology, SHM is not utilized to its full potential. However, imposition of stringent government regulations on safety standards of civil infrastructures provides a major opportunity for SHM market in these countries.

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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