Principal component analysis (PCA) is a powerful data reductionmethod for Structural Health Monitoring. However, its computa-tional cost and data memory footprint pose a significant challengewhen PCA has to run on limited capability embedded platformsin low-cost IoT gateways. This paper presents a memory-efficientparallel implementation of the streaming History PCA algorithm.On our dataset, it achieves 10x compression factor and 59x memoryreduction with less than 0.15 dB degradation in the reconstructedsignal-to-noise ratio (RSNR) compared to standard PCA. More-over, the algorithm benefits from parallelization on multiple cores,achieving a maximum speedup of 4.8x on Samsung ARTIK 710.