IoT in Construction Market 2020 Industry Outlook, Trends, Growth and Forecast 2025| Sigofex, Oracle Corporation, Caterpillar Inc., Giatec Scientific, Inc., Losant IoT, WorldSensing and CalAmp Corp.

Internet of things (IoT) is the interconnection or link, which is set up via the internet. It connects various devices, vehicles, home appliances, etc. The use of internet of things in construction involves the application of IoT in fleet management, wearables, site monitoring, machine controlling and others.

Request a sample of this report @ https://www.adroitmarketresearch.com/contacts/request-sample/1333

The global IoT in the construction market is majorly driven by activities such as remote operation, supply replenishment, construction tools and tracking of equipment. Furthermore, the market is positively affected by the technological advances in sensors, and increased data generation using IoT. It also automates the tasks, saves time and helps in dealing with the uncertainties, which might arise at the construction site. IoT in construction uses software that enhances the project completion percentage and helps in resolving various issues by enabling proper documentation.

However, the use of IoT at the construction site are vulnerable to hijacking, which may negatively affect the growth rate. Adding to this, meeting the customer's expectation, keeping IoT hardware updated, and overcoming connectivity issues are few of the major challenges hindering the growth of the market. Furthermore, changing government regulations and standards are also likely to hamper the growth/revenue generated by the market. Despite all these challenges and hindrances, IoT has provided a competitive advantage to the construction industry and is likely to grow in coming years.

Get Discount on this Report: https://www.adroitmarketresearch.com/contacts/discount/1333

Key Market Drivers and Restraints:

The growing demand for predictive maintenance will increase the adoption of IoT in construction

IoT in construction will witness significant demand due to the implementation of predictive analytics in maintenance and repair operation. Use of predictive maintenance in facility management or equipment maintenance is expected to be the next phase of IoT construction Market. It analyses the data and provides a precise period for the maintenance, thereby reducing the unexpected downtimes.

However, data storage will create a challenging environment. Cyber-attacks on critical machines are at stakes compared to the IT network. Hence, the operational teams need to be cautious with the technology. For instance, Telecrane's cranes have an IoT security flaw that could allow hackers to take over control of the equipment by intercepting the communication.

Key Application:

Customer Experience Management is contributing significantly towards IoT in construction

In the construction industry, smart cities is a key application area for IoT. Infrastructure with embedded sensors can collect and analyze data to efficiently utilize the environment and reduce the maintenance downtime by providing early warnings. The smart parking system is one of the applications in smart cities. In-ground sensors can detect the vacant space and reduce the traffic. T-Mobile is one of the service providers for smart parking, in which ground sensors connected to the mobile network will guide drivers for vacant space via smartphones.

Implementation of Building Information Modelling (BIM) is an emerging technology in the construction industry, which helps in 3D modelling of a building. In smart building projects, data collected from IoT sensors are used for analyzing parameters, such as energy usage patterns, temperature trends, or movement of people throughout a building, and for future improvements.

Browse the complete report @ https://www.adroitmarketresearch.com/industry-reports/iot-in-construction-market

Regional Market Scenario:

Asia-Pacific will lead the growth in this market

Emerging economies like China, India and Russia are key growth countries for IoT in construction. The increasing demand and challenges from local as well as global markets will allow the Asia Pacific to be the key growth region for IoT in construction. In the coming years, due to an increase in technology penetration and huge investments in the construction industry that are utilizing IoT in construction solutions, it is expected that the adoption of IoT in construction will significantly grow.

Key Market Players

Cisco

Microsoft

Triax Technologies

Hitech & Development Wireless Sweden Holding

Caterpiller

SigFox

Wipro

DAQRI

Construction Robotics

Trimble

Pillar Technologies

Losant

Atlas RFID Solutions

DroneDeploy

Others

Market Segments: IoT in construction Market

By Application

Maintenance & Repair

Building Information Modelling (BIM)

Safety and Monitoring

Remote Operation

Supply chain

Others

By Component

Hardware

Software

Services

By Region (tentative)

North America

US

Canada

Europe

Germany

France

UK

Asia Pacific

China

India

Japan

The Middle East and Africa

UAE

South Africa

Latin America

Brazil

Argentina

Key Sources

Industry Associations

Patent Websites

Company Annual Reports

Company Websites

Key industry leaders

Technology consultants

Others

Key Questions Answered

What are the key growth regions and countries?

What are the important types and technologies being used?

What are the market players doing, in terms of research and development?

Which are the new applications for this market?

What are the integrations happening?

What is the recent news, developments, mergers, or large value deals?

Where will the industry go in the long run?

Key Stakeholders

Component providers

Technology providers

Raw material providers

Regulatory Authorities

Research and Innovation Organizations

Technocrats

Suppliers and Distributors

Other Channel Partners

Quality Control Organizations

Place a purchase order of this report @ https://www.adroitmarketresearch.com/researchreport/purchase/1333

About Us:

Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

Contact Info:

Ryan Johnson

Adroit Market Research

3131 McKinney Ave Ste 600,

Dallas, Texas - 75204, U.S.A

Phone No: +19723628199

Email: sales@adroitmarketresearch.com

This release was published on openPR.