Structural Health Monitoring Market Size, Share, Growth Analysis, By Offering(Hardware [Sensors (Accelerometers, Displacement sensors, Tilt meters & inclinometers, Strain gauges), By Technology(Wired, Wireless), By Vertical(Civil Infrastructure [Bridges, Tunnels, Dams, Buildings & Stadiums]), By Application(Agricultural, Cleaning, Educational, Healthcare), By Region - Industry Forecast 2024-2031

Global 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).

System health monitoring is a tool that enables civil engineers to reduce maintenance costs and improve safety measures for critical infrastructure. Some of the primary tasks performed by SHM systems include testing heavy equipment, aircraft, turbines, buildings, bridges, dams and stadiums. This technology combines data acquisition and communication systems, sensors, analytical devices, measurement amplifiers and software. With predictive maintenance, systems play a key role in detecting damage, increasing building safety and enabling automatic response, thereby saving time and cost Large-scale projects such as smart cities in developing countries.  

The increasing infrastructure around the world and growing concerns about natural disasters force governments around the world to implement several SHM-related regulations. Increased focus on low-cost energy harvesting systems and the use of distributed optical fiber further contribute to the growth of the market. Increasing demand for cost-effective design and maintenance is expected to drive the market growth.

US Structural Health Monitoring Market is poised to grow at a sustainable CAGR for the next forecast year.