Internet of Things (IoT) in Construction Market

The global Internet of Things (IoT) in construction market size is expected to reach USD 26.79 Billion in 2028 and register a robust revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth rate can be attributed to increasing adoption of Internet-connected device in the construction industry to address common workplace concerns. The construction industry is increasingly deploying IoT technology in order to overcome flat productivity, more schedule overruns, decreased margins, and increasing competition in the industry. 

The report has been formulated through extensive primary and secondary research along with a breakdown of the information to offer an exhaustive analysis of the Internet of Things (IoT) in Construction market. The data includes accurate market insights, essential market facts, and key statistical information further validated by the industry experts that help readers get a complete idea of the Internet of Things (IoT) in Construction industry.

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Some Key Highlights From the Report

  • In June 2020, Caterpillar Inc. announced the acquisition of selected assets and hired employees from Marble Robot, Inc., which is a San Francisco, California-based company dealing in robot and autonomy technology solutions. The acquisition is part of the automation and automation strategy of the company. With the help of the acquisition, the company can leverage the deep expertise of the new team and bring scalable solutions to meet the changing needs across the construction industry.
  • Commercial segment accounted for a significantly rapid revenue growth in the IoT in construction market in 2020. IoT technology is increasingly being adopted for the construction of commercial buildings to reduce energy consumption and enhance operational efficiency of these buildings.
  • North America accounted for largest revenue share contribution to the global IoT in construction market in 2020. Increasing investment by major players for advancement of Internet-connected devices utilized in the construction industry is contributing to growing demand for IoT technology in the construction industry.
  • Key players in the market include Caterpillar Inc., Autodesk, Oracle Corporation, Trimble, KORE Wireless Group, WorldSensing, Giatec Scientific Inc., Losant IoT, Sigfox, and CalAmp.

Internet of Things (IoT) in Construction Market Segmentation:

Emergen Research has segmented the global Internet of Things (IoT) in construction market on the basis of components, application, end-use, and region:

  • Components Outlook (Revenue, USD Billion; 2018–2028)
    • Software
    • Hardware
    • Services
  • Application Outlook (Revenue, USD Billion; 2018–2028)
    • Fleet Management
    • Predictive Management
    • Safety Management
    • Remote operations
    • Others
  • End-use Outlook (Revenue, USD Billion; 2018–2028)
    • Residential
    • Commercial

Regional Segmentation of the Market:

  • North America (U.S.., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Major Objectives of the Study:

  • To offer a comprehensive analysis of the market scenario to derive an accurate forecast of the market and its major segments
  • Accurate insights into the future growth prospects of the market through an analysis of the influencing factors
  • Analysis of vital aspects of the market including cost analysis, supply chain analysis, Porter’s Five Forces analysis, SWOT analysis, and investment return analysis
  • Extensive historical and forecast estimation of the market revenue based on its key segments and key regions
  • Comprehensive analysis of the competitive landscape of the market along with exhaustive profiling of the key competitors, product portfolio, and manufacturing and production capabilities

Table Of Content:

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope  
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. IoT in Construction Market Segmentation & Impact Analysis
    4.1. IoT in Construction Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Rapid urbanization and growth in construction industry in developing countries 
                    4.2.2.2. Rising need for IoT-based automation for enhanced productivity
                    4.2.2.3. Increasing labor shortage
                    4.2.2.4. Rising need to enhance safety and security issues
                    4.2.2.5. Growing trend of digital construction
                    4.2.2.6. Emergence of AI and ML in construction sector 
          4.2.3. Market restraints analysis 
                    4.2.3.1. Data security and privacy issues
                    4.2.3.2. High initial investment
                    4.2.3.3. Disruptions in the construction industry due to the pandemic
    4.3. Technological Insights 
    4.4. Regulatory Framework
    4.5. Porter’s Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

Chapter 5. IoT in Construction Market By Components Insights & Trends, Revenue (USD Billion)
    5.1. Components Dynamics & Market Share, 2021 & 2028
          5.1.1. Software
          5.1.2. Hardware
          5.1.3. Services  

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Contact Information:

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Facebook | LinkdIn | Twitter | Blogs