Press release
IOT in Construction Market Size 2022 with 16.8% CAGR : Improve approach around present and emerging technologies for modern and new assets Till 2029
The Global IOT in Construction Market is forecast to reach above USD 32.01 billion by 2029 by rising at a compound annual growth rate (CAGR) of 16.8% throughout the forecast period from 2022 to 2029IOT in Construction Market Overview
The growth of the IoT in construction market is primarily triggered by the growing need to avoid project delays through better productivity and safety.
The Internet of Things (IoT) has impacted almost all businesses, homes, and workplaces, simplifying human activities. The use of internet-connected devices, or IoT in construction, has benefited the sector by lowering operational costs, increasing productivity, and improving project management. By identifying possible dangers on a construction site, smart technologies like sensors, RFID tags, building information modelling, augmented reality, and others help to reduce resource requirements, prevent accidents and fatalities, and save time and money. Additionally, IoT may be included into almost all aspects of construction activity, such as risk management, asset monitoring, labour tracking, surveying, administration of the building site, and plastering and bricklaying.
The global IOT in Construction market report widely offers the latest information about technological developments and market growth forecasts based on the regional landscape.
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Industry Development
A concrete sensor called SmartRock was upgraded by Giatec Scientific Inc. and released in 2020. This sensor is used to precisely monitor the hardening and curing of concrete and has a wireless signal range that is five times greater than the previous model.
In order to build an IoT construction solution that uses AI and 5G, Trimble Inc., SK Telecom, and Hyundai partnered in 2018. The businesses guarantee to provide an IoT construction solution that enables equipment to run for longer periods of time, increases efficiency, and lowers costs.
Research Methodology:
To calculate the market size, the report considers the revenue generated from the sales of IOT in Construction market manufacturers. The revenue created from the sales of IOT in Construction Market has been calculated through primary and secondary research.
The market size assessment also considered leading players revenues as part of triangulation the key players considered are Caterpillar Inc, Sigfox, Oracle Corporation, CalAmp Corp., Losant IOT, Giatec Scientific, Inc, WorldSensing, Kore Wireless, Trimble Inc., Autodesk Inc. and Others.
The IOT in Construction Market has been segmented as below:
IOT in Construction Market by Offering, 2020-2029, (USD Million)
Hardware
Software
Services
IOT in Construction Market by Type of Project Type, 2020-2029, (USD Million)
Commercial
Residential
IOT in Construction Market by Application, 2020-2029, (USD Million)
Remote Operations
Safety Management
Fleet Management
Predictive Maintenance
Others
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IOT in Construction Market: Regional Analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of IOT in Construction market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Geographically, the market is dominated by APAC, North America and Europe.
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Major Key areas that have been focused on in the report:
Raw material supply analysis
Major trends noticed in the Global IOT in Construction Market
Market Geographic limitations, and pricing issues
Distribution, scheduling, performance, and supplier requirements
Growth opportunities that may emerge in the industry in the upcoming years
In-depth value chain analysis
Sustainability trends and environmental concerns
Market Gap and Opportunities
Global Market Growth Drivers, Opportunities, and Constraints.
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