Construction 4.0 Market Growth with Worldwide Industry Analysis at a CAGR of 17.7% By 2031

Construction 4.0 Market by Solution (Hardware, Software, Services), by Technology (IoT, Artificial Intelligence, Industrial Robots, Others), by Application (Asset Monitoring, Predictive Maintenance, Fleet Management, Wearables, Others), by End User (Residential, Non-residential): Global Opportunity Analysis and Industry Forecast, 2021-2031

Construction 4.0 refers to a current industrial revolution in the construction sector. It consists of technology to process massive amounts of data, including IoT, artificial intelligence, drones, sensors, industrial robots, and others. Cost and time savings, an improved perception of the construction business, increased production, and a focus on the client are all advantages of construction 4.0.

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According to AMR, The construction 4.0 market size was valued at $11.9 billion in 2021, and is estimated to reach $62.2 billion by 2031, growing at a CAGR of 17.7% from 2022 to 2031.

The global construction 4.0 market is segmented on the basis of solution, technology, application, end user, and region. Based on solution, the construction 4.0 market is fragmented into hardware, software, and services. Based on technology, the global construction 4.0 market is categorized into IoT, artificial intelligence, industrial robots, and others. Based on application, the market is divided into asset monitoring, predictive maintenance, fleet management, wearables, and others. By end user, the market is classified into residential and non-residential.

Region wise, the global construction 4.0 market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

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COMPETITION ANALYSIS
The major players profiled in the construction 4.0 market include Advanced Opto-Mechanical Systems and Technologies Inc, ABB Ltd, Autodesk Inc, CalAmp Corporation, Hexagon AB, Hilti Corporation, Mitsubishi Electric Corporation, Oracle Corporation, Topcon Corporation, and Trimble, Inc.

KEY FINDINGS OF THE STUDY
• The report provides an extensive analysis of the current and emerging global construction 4.0 market trends and dynamics.
• Based on solution, the hardware segment accounted for maximum share of the construction 4.0 market in 2021.
• Based on technology, the IoT segment accounted for maximum share of the construction 4.0 market in 2021.
• By application, the asset monitoring segment generated the highest revenue during 2021 in the construction 4.0 market.
• By end user, the non-residential segment generated the highest revenues during 2021 in the construction 4.0 market.

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