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IoT In Construction Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032
IoT In Construction Market
The Business Research Company's IoT In Construction Global Market Report 2023 identifies the increasing demand for construction and infrastructure activities as the major driver for the IoT in construction market's growth in the forecast period. Construction refers to an activity of putting together various elements to create a structure for a specific location, using a detailed design and plan. The IoT in the construction industry assists in developing a sustainable plan for employing recycled materials and using zero waste vocabulary. This can also assist in educating the labor force about the sustainable construction concept, as a result, increasing demand for construction activities increases the demand for IoT in construction.
The global IoT in construction market size is expected to grow from $10.16 billion in 2022 to $11.90 billion in 2023 at a compound annual growth rate (CAGR) of 17.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global IoT in construction market size is expected to reach $21.26 billion in 2027 at a CAGR of 15.6%.
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Major competitors in the IoT in construction market are Trimble Inc., Pillar Technologies Inc., Triax Technologies, Brickeye, Hilti Corporation, Topcon Corporation, Autodesk Inc., Oracle Corporation, Hexagon Metrology AB, Sigfox, Caterpillar Inc., Losant IoT, Giatec Scientific Inc., WorldSensing, and Kore Wireless Group.
A key trend in the IoT in construction market includes technological advancement. Major players are adopting advanced technologies to strengthen their positions.Major companies operating in IoT in construction are developing new technologies for strengthening the demand for the market. For example, in 2023, EarthCam, a US-based company that provides live streaming and time-lapse construction cameras launched IoT StreamCam 4K for retail interior construction. With the new IoT StreamCam 4K, one 4G LTE (long-term evolution) data connection may be shared by up to eight different low-power wireless devices. This affordable platform enables a variety of small, add-on cameras and IoT devices to record interior development and job site conditions. An efficient photo time clock that precisely records time-in and time-out can be made by connecting Door Cams to the platform, which will log visitors, track deliveries, and read basic QR codes. Flood, smoke, and glass-breakage alerts are just a few of the configurable IoT device alerts that are available.
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The IoT in construction market is segmented -
• By Type: Hardware, Software, Connectivity, Services
• By Application: Machine Control, Site Monitoring, Fleet Management, Wearables, Other Applications
• By End User: Residential, Non-Residential
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the IoT in construction market.
The Business Research Company's "Global IoT In Construction Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The IoT In Construction Market Include:
1. Executive Summary
2. IoT In Construction Market Characteristics
3. IoT In Construction Market Trends And Strategies
4. IoT In Construction Market - Macro Economic Scenario
5. IoT In Construction Market Size And Growth
……
26. Africa IoT In Construction Market
27. IoT In Construction Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The IoT In Construction Market
29. IoT In Construction Market Future Outlook and Potential Analysis
30. Appendix
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