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11630 SW 97 Street, Miami, Florida 33176, US
11630 SW 97 Street, Miami, Florida 33176, US
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According to the new research report, the “Structural Health Monitoring Market with COVID-19 Impact by Offering (Hardware, Software & Services), Technology (Wired, Wireless), End Use (Civil Infrastructure, Aerospace & Defense, Energy, Mining) and Geography – Global Forecast to 2027”, published by MarketsandMarkets™, the market is estimated to grow from USD 2.0 billion in 2022 to USD 4.0 billion by 2027, at a CAGR of 14.6% between 2022 and 2027.
he major factors contributing to the market growth are increased importance of automated maintenance and repair of critical infrastructures, cascading effects of structural failures such as loss of lives and capital,
significant investments in infrastructure sector, stringent government regulations to build sustainable structures, aging infrastructure and benefits offered by structural health monitoring, and reduced costs of structural health monitoring systems.
The civil infrastructure segment is expected to hold the largest share of the structural health monitoring market during the forecast period
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