Structural Health Monitoring Market Share

Regionally, the structural health monitoring market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America is estimated to hold largest revenue share by 2036, on the back of rising government initiatives on modification and maintenance of the civil infrastructure, countless aging structures, developing construction, and automotive industry in the region. For instance, the total output of the highway and street construction in 2020 amounted to about USD 140 billion, meanwhile, the federal government of the U.S. spent about USD 1 billion on the construction of highways. A significant requirement to upgrade North America’s aging infrastructure is also anticipated to propel the growth of the market over the forecast period. All these factors are projected to influence the market positively in the region during the forecast period.