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IoT in Construction Market Expected to Grow at 16.8 Billion In Revenue by 2024

02-19-2020 06:01 AM CET | Industry, Real Estate & Construction

Press release from: ReportsandReports

IoT in Construction Market Expected to Grow at 16.8 Billion

According to Market Study Report, IoT in Construction Market provides a comprehensive analysis of the IoT in Construction Market segments, including their dynamics, size, growth, regulatory requirements, technological trends, competitive landscape, and emerging opportunities of global industry. This report also provides market landscape and market share information in the IoT in Construction Market.

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The Market size of Internet of Things (IoT) in construction is estimated at USD 7.8 Billion in 2019 and is projected to reach USD 16.8 Billion by 2024, at a CAGR of 16.5% between 2019 and 2024. This report spread across 113 Pages, Profiling 10 Companies and Supported with 65 Tables and 36 figures is now available in this research.

Top Companies profiled in the IoT in Construction Market:
o Caterpillar Inc. (US)
o Sigfox (France)
o Oracle Corporation (US)
o CalAmp Corp. (US)
o Losant IoT (US)
o Giatec Scientific, Inc. (Canada)
o WorldSensing (Spain)
o Kore Wireless (US)
o Trimble Inc. (US)
o Autodesk Inc. (US)

"Services segment is projected to register the highest during the forecast period."
The market is segmented on the basis of offering as software, hardware, and services. The services segment is expected to register the highest CAGR during the forecast period. This high growth is attributed to the growing need for maintenance, repair, and support services for the deployed equipment and software. Moreover, increasing dependency on cloud services is one of the major reasons behind the growth of the services segment.

"Remote operations application is the largest segment in the overall IoT in construction market."
The remote operations segment accounts for the largest share of the IoT in construction market. Growing usage of IoT for machine control, real-time monitoring of workers, construction sites, and machinery is responsible for the high market share of remote operations application.

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IoT in construction market in APAC is projected to register the highest CAGR between 2019 and 2024.
The IoT in construction market in APAC is projected to register the highest CAGR during the forecast period. This growth can be attributed to the increasing demand for IoT in construction from China, Japan, and other Asian countries. There is rising digitization and a growing construction industry in China, which is a major contributor to the market in APAC.

Competitive Landscape of IoT in Construction Market:
1 Introduction
2 Competitive Leadership Mapping
2.1 Visionary Leaders
2.2 Dynamic Differentiators
2.3 Innovators
2.4 Emerging Companies
3 Strength of Product Portfolio
4 Business Strategy Excellence
5 Market Ranking
6 Competitive Scenario
6.1 New Product Developments/Launches
6.2 Expansions
6.3 Acquisitions
6.4 Partnerships

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Research Coverage:
This report covers the IoT in construction market and forecasts the size of the market till 2024. The report includes the segmentation of the market based on application, project type, offering, and region. The Porter's Five Forces analysis and key market dynamics, such as drivers, restraints, challenges, and opportunities, influencing the growth of the IoT in construction market have been discussed in the report.

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