Press release
IoT in Construction Market Set to Reach USD 28.91 Billion by 2030
IoT in Construction Market
The Internet of Things (IoT) is revolutionizing the construction industry, driving enhanced efficiency, safety, and productivity across project sites worldwide. As of 2023, the global IoT in construction market is valued at approximately USD 10.64 billion and is projected to reach USD 28.91 billion by 2030, exhibiting a compound annual growth rate (CAGR) of over 15.35% during the forecast period.
๐๐๐ซ๐ค๐๐ญ ๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง ๐๐ง๐ ๐๐๐ฒ ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ
The substantial growth in the IoT in construction market is attributed to several factors:
๐๐ฃ๐๐๐ฃ๐๐๐ ๐๐ฅ๐๐ง๐๐ฉ๐๐ค๐ฃ๐๐ก ๐๐๐๐๐๐๐๐ฃ๐๐ฎ: IoT technologies facilitate real-time monitoring and management of equipment, materials, and workforce, leading to reduced downtime and optimized resource utilization.
๐๐ข๐ฅ๐ง๐ค๐ซ๐๐ ๐๐๐๐๐ฉ๐ฎ ๐๐๐๐จ๐ช๐ง๐๐จ: The integration of IoT devices, such as wearables and environmental sensors, enhances worker safety by providing real-time alerts about hazardous conditions, thereby reducing the risk of accidents.
๐๐ง๐๐๐๐๐ฉ๐๐ซ๐ ๐๐๐๐ฃ๐ฉ๐๐ฃ๐๐ฃ๐๐: IoT-enabled predictive maintenance allows for the early detection of equipment issues, preventing costly downtime and extending machinery lifespan.
๐๐จ ๐๐๐๐๐ฌ๐ฌ ๐ฆ๐จ๐ซ๐ ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐ซ๐๐ ๐๐ซ๐๐ข๐ง๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก, ๐ฏ๐ข๐ฌ๐ข๐ญ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐ ๐ฐ๐๐๐ฉ๐๐ ๐: https://www.maximizemarketresearch.com/request-sample/100864/
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
The adoption of IoT in construction varies across regions, with notable developments in several countries:
๐ฐ๐๐ป ๐๐ ๐ช๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ถ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐ฝ๐๐๐๐๐๐
Vietnam's construction sector is witnessing increased interest from foreign investors, particularly from Japan, South Korea, and Singapore. The growing M&A activities in the country are contributing to the integration of advanced technologies, including IoT, to enhance construction processes.
๐ฐ๐๐ป ๐๐ ๐ช๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ฎ๐๐๐๐๐ ๐๐ ๐ป๐๐๐๐๐๐๐
Thailand is experiencing rapid urbanization, leading to a surge in construction projects. The government's focus on smart city initiatives is propelling the adoption of IoT solutions to improve infrastructure development and project management.
๐ฐ๐๐ป ๐๐ ๐ช๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ป๐๐๐๐ ๐ ๐๐ ๐ฑ๐๐๐๐
Japan's advanced technological landscape supports the widespread adoption of IoT in construction. Companies are leveraging IoT to enhance precision in project execution and to implement robotics and automation on construction sites.
๐ฐ๐๐ป ๐๐ ๐ช๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ช๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐บ๐๐๐๐ ๐ฒ๐๐๐๐
South Korea is witnessing consolidation in its construction industry, with major firms integrating IoT solutions to streamline operations and enhance competitiveness. The focus is on utilizing IoT for real-time monitoring and efficient resource management.
๐ฐ๐๐ป ๐๐ ๐ช๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ผ๐๐ ๐๐๐๐๐ ๐๐ ๐บ๐๐๐๐๐๐๐๐
Singapore's commitment to becoming a smart nation includes significant investments in IoT technologies within the construction sector. The emphasis is on sustainable building practices and efficient project management through IoT integration.
๐ฐ๐๐ป ๐๐ ๐ช๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ถ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐ผ๐๐๐๐๐ ๐บ๐๐๐๐๐
The U.S. construction industry is increasingly adopting IoT solutions to address challenges such as labor shortages and rising material costs. Innovations include the use of wearables, telematics, and sensing technology to promote sustainable growth and operational efficiency.
๐ฐ๐๐ป ๐๐ ๐ช๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ฎ๐๐๐๐๐ ๐๐ ๐ช๐๐๐๐
China's rapid infrastructure development is accompanied by the integration of IoT technologies to enhance project management and safety. The focus is on large-scale implementation of IoT solutions to support the country's expansive construction activities.
๐ฐ๐๐ป ๐๐ ๐ช๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ป๐๐๐๐ ๐ ๐๐ ๐ฌ๐๐๐๐๐
European countries are leading in the adoption of IoT solutions in construction, driven by stringent regulations promoting innovation and sustainability. Investments in smart building technologies are enhancing energy efficiency and safety across the region.
๐๐๐ฒ ๐๐๐๐๐ง๐ญ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
๐๐ฎ๐ญ๐จ๐๐๐ฌ๐ค'๐ฌ ๐ ๐๐๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐จ๐ง๐ข๐ญ๐จ๐ซ๐ข๐ง๐ ๐๐๐ญ๐ ๐๐จ๐ซ ๐๐๐ง๐๐๐ฆ: In March 2023, ๐๐ฎ๐ญ๐จ๐๐๐ฌ๐ค introduced Facility Monitoring Beta for Tandem, a digital twin application designed to provide deep insights into building performance, enabling remote analysis and enhanced project oversight.
๐๐ซ๐ข๐ฆ๐๐ฅ๐'๐ฌ ๐๐๐ซ๐ญ๐ง๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฐ๐ข๐ญ๐ก ๐๐ฒ๐ข๐ฏ๐ฌ๐ญ๐๐ซ: In September 2023, ๐๐ซ๐ข๐ฆ๐๐ฅ๐partnered with Kyivstar to provide GNSS correction services aimed at enhancing construction operations through improved accuracy in equipment positioning.
๐๐๐ญ๐๐ซ๐ฉ๐ข๐ฅ๐ฅ๐๐ซ'๐ฌ ๐๐๐ญ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ข๐ฏ๐ข๐ญ๐ฒ ๐๐ฅ๐๐ญ๐๐จ๐ซ๐ฆ: In November 2022, ๐๐๐ญ๐๐ซ๐ฉ๐ข๐ฅ๐ฅ๐๐ซ launched the Cat Productivity platform, a cloud-based system developed to collect and analyze machine data, aiming to boost machine productivity and performance.
๐๐ฎ๐ซ๐ข๐จ๐ฎ๐ฌ ๐ญ๐จ ๐ฉ๐๐๐ค ๐ข๐ง๐ฌ๐ข๐๐? ๐๐ซ๐๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/100864/
๐๐จ๐ ๐ข๐ง ๐๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
๐๐ ๐ท๐๐๐ ๐๐๐
Hardware
Software
Services
Others
๐๐ ๐จ๐๐๐๐๐๐๐๐๐๐
Safety
Asset Monitoring
Predictive Maintenance
Wearable's
Remote Operations
Fleet Management
Others
๐๐ ๐ฌ๐๐ ๐ผ๐๐๐
Residential
Non-Residential
Government and Public Infrastructure
Educational Institutions
The Government and Public Infrastructure sector accounted for 20% of the IoT in Construction market by end users. The Internet of Things (IoT) has the ability to fundamentally alter governance by transforming how public institutions and governments function. Through data-driven insights, IoT devices collect real-time data on a range of governance-related topics, including air quality, energy usage, and traffic flow, facilitating better decision-making. The city has put in place an Advanced Traffic Management System that optimises traffic signal timings, eases congestion, and enhances overall traffic flow by using real-time data from cameras and sensors. The SFpark program assists drivers in locating open parking spots by using sensors and real-time data. By reducing the amount of time spent looking for parking, it lowers fuel use and traffic congestion.
๐๐จ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐ฎ๐ซ๐ญ๐ก๐๐ซ ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก, ๐ฉ๐ฅ๐๐๐ฌ๐ ๐ ๐จ ๐ญ๐จ: https://www.maximizemarketresearch.com/request-sample/100864/
๐๐จ๐ ๐ข๐ง ๐๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
1. Bosch - Germany
2. Caterpillar - United States
3. Trimble - United States
4. Procore Technologies - United States
5. Autodesk - United States
6. Oracle - United States
7. Siemens - Germany
8. Hilti - Liechtenstein
9. IBM - United States
10. Johnson Controls - Ireland
11. Schneider Electric - France
12. Honeywell - United States
13. Dell Technologies - United States
14. Microsoft - United States
15. DeWalt (Stanley Black & Decker) - United States
16. Hewlett Packard Enterprise (HPE) - United States
17. Cisco Systems - United States
18. Emerson Electric Co. - United States
19. Fluke Corporation - United States
20. Hitachi - Japan
๐ ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐๐ญ๐๐ฌ๐ญ ๐๐ฎ๐ณ๐ณ:
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Global High-efficiency Particulate Air (HEPA) Filters Market https://www.maximizemarketresearch.com/market-report/global-high-efficiency-particulate-air-hepa-filters-market/107411/
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Global Corrugated Box Making Machine Market https://www.maximizemarketresearch.com/market-report/global-corrugated-box-making-machine-market/117132/
Electric Construction Equipment Market https://www.maximizemarketresearch.com/market-report/electric-construction-equipment-market/160566/
Global Homogenizers Market https://www.maximizemarketresearch.com/market-report/global-homogenizers-market/29255/
Global Aerospace Fasteners Market https://www.maximizemarketresearch.com/market-report/global-aerospace-fasteners-market/96972/
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
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