IoT in Construction Market Set to Reach USD 28.91 Billion by 2030

𝐈𝐨𝐓 𝐢𝐧 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐨𝐢𝐬𝐞𝐝 𝐟𝐨𝐫 𝐒𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

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.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐚𝐧𝐝 𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

The substantial growth in the IoT in construction market is attributed to several factors:

𝙀𝙣𝙝𝙖𝙣𝙘𝙚𝙙 𝙊𝙥𝙚𝙧𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙀𝙛𝙛𝙞𝙘𝙞𝙚𝙣𝙘𝙮: IoT technologies facilitate real-time monitoring and management of equipment, materials, and workforce, leading to reduced downtime and optimized resource utilization.

𝙄𝙢𝙥𝙧𝙤𝙫𝙚𝙙 𝙎𝙖𝙛𝙚𝙩𝙮 𝙈𝙚𝙖𝙨𝙪𝙧𝙚𝙨: 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.

𝙋𝙧𝙚𝙙𝙞𝙘𝙩𝙞𝙫𝙚 𝙈𝙖𝙞𝙣𝙩𝙚𝙣𝙖𝙣𝙘𝙚: IoT-enabled predictive maintenance allows for the early detection of equipment issues, preventing costly downtime and extending machinery lifespan.

𝐓𝐨 𝐚𝐜𝐜𝐞𝐬𝐬 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐫𝐞𝐠𝐚𝐫𝐝𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐯𝐢𝐬𝐢𝐭 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐰𝐞𝐛𝐩𝐚𝐠𝐞: https://www.maximizemarketresearch.com/request-sample/100864/

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

The adoption of IoT in construction varies across regions, with notable developments in several countries:

𝑰𝒐𝑻 𝒊𝒏 𝑪𝒐𝒏𝒔𝒕𝒓𝒖𝒄𝒕𝒊𝒐𝒏 𝑴𝒂𝒓𝒌𝒆𝒕 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒊𝒏 𝑽𝒊𝒆𝒕𝒏𝒂𝒎

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.

𝑰𝒐𝑻 𝒊𝒏 𝑪𝒐𝒏𝒔𝒕𝒓𝒖𝒄𝒕𝒊𝒐𝒏 𝑴𝒂𝒓𝒌𝒆𝒕 𝑮𝒓𝒐𝒘𝒕𝒉 𝒊𝒏 𝑻𝒉𝒂𝒊𝒍𝒂𝒏𝒅

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.

𝑰𝒐𝑻 𝒊𝒏 𝑪𝒐𝒏𝒔𝒕𝒓𝒖𝒄𝒕𝒊𝒐𝒏 𝑴𝒂𝒓𝒌𝒆𝒕 𝑻𝒓𝒆𝒏𝒅𝒔 𝒊𝒏 𝑱𝒂𝒑𝒂𝒏

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.

𝑰𝒐𝑻 𝒊𝒏 𝑪𝒐𝒏𝒔𝒕𝒓𝒖𝒄𝒕𝒊𝒐𝒏 𝑴𝒂𝒓𝒌𝒆𝒕 𝑪𝒐𝒏𝒔𝒐𝒍𝒊𝒅𝒂𝒕𝒊𝒐𝒏 𝒊𝒏 𝑺𝒐𝒖𝒕𝒉 𝑲𝒐𝒓𝒆𝒂

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.

𝑰𝒐𝑻 𝒊𝒏 𝑪𝒐𝒏𝒔𝒕𝒓𝒖𝒄𝒕𝒊𝒐𝒏 𝑴𝒂𝒓𝒌𝒆𝒕 𝑼𝒑𝒅𝒂𝒕𝒊𝒐𝒏 𝒊𝒏 𝑺𝒊𝒏𝒈𝒂𝒑𝒐𝒓𝒆

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.

𝑰𝒐𝑻 𝒊𝒏 𝑪𝒐𝒏𝒔𝒕𝒓𝒖𝒄𝒕𝒊𝒐𝒏 𝑴𝒂𝒓𝒌𝒆𝒕 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒊𝒏 𝒕𝒉𝒆 𝑼𝒏𝒊𝒕𝒆𝒅 𝑺𝒕𝒂𝒕𝒆𝒔

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.

𝑰𝒐𝑻 𝒊𝒏 𝑪𝒐𝒏𝒔𝒕𝒓𝒖𝒄𝒕𝒊𝒐𝒏 𝑴𝒂𝒓𝒌𝒆𝒕 𝑮𝒓𝒐𝒘𝒕𝒉 𝒊𝒏 𝑪𝒉𝒊𝒏𝒂

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.

𝑰𝒐𝑻 𝒊𝒏 𝑪𝒐𝒏𝒔𝒕𝒓𝒖𝒄𝒕𝒊𝒐𝒏 𝑴𝒂𝒓𝒌𝒆𝒕 𝑻𝒓𝒆𝒏𝒅𝒔 𝒊𝒏 𝑬𝒖𝒓𝒐𝒑𝒆

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.

𝐊𝐞𝐲 𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

𝐀𝐮𝐭𝐨𝐝𝐞𝐬𝐤'𝐬 𝐅𝐚𝐜𝐢𝐥𝐢𝐭𝐲 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐁𝐞𝐭𝐚 𝐟𝐨𝐫 𝐓𝐚𝐧𝐝𝐞𝐦: In March 2023, 𝐀𝐮𝐭𝐨𝐝𝐞𝐬𝐤 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.

𝐓𝐫𝐢𝐦𝐛𝐥𝐞'𝐬 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐰𝐢𝐭𝐡 𝐊𝐲𝐢𝐯𝐬𝐭𝐚𝐫: In September 2023, 𝐓𝐫𝐢𝐦𝐛𝐥𝐞partnered with Kyivstar to provide GNSS correction services aimed at enhancing construction operations through improved accuracy in equipment positioning.

𝐂𝐚𝐭𝐞𝐫𝐩𝐢𝐥𝐥𝐚𝐫'𝐬 𝐂𝐚𝐭 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐯𝐢𝐭𝐲 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦: In November 2022, 𝐂𝐚𝐭𝐞𝐫𝐩𝐢𝐥𝐥𝐚𝐫 launched the Cat Productivity platform, a cloud-based system developed to collect and analyze machine data, aiming to boost machine productivity and performance.

𝐂𝐮𝐫𝐢𝐨𝐮𝐬 𝐭𝐨 𝐩𝐞𝐞𝐤 𝐢𝐧𝐬𝐢𝐝𝐞? 𝐆𝐫𝐚𝐛 𝐲𝐨𝐮𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐧𝐨𝐰: https://www.maximizemarketresearch.com/request-sample/100864/

𝐈𝐨𝐓 𝐢𝐧 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

𝒃𝒚 𝑷𝒓𝒐𝒅𝒖𝒄𝒕

Hardware
Software
Services
Others

𝒃𝒚 𝑨𝒑𝒑𝒍𝒊𝒄𝒂𝒕𝒊𝒐𝒏

Safety
Asset Monitoring
Predictive Maintenance
Wearable's
Remote Operations
Fleet Management
Others

𝒃𝒚 𝑬𝒏𝒅 𝑼𝒔𝒆𝒓

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.

𝐓𝐨 𝐞𝐱𝐩𝐥𝐨𝐫𝐞 𝐟𝐮𝐫𝐭𝐡𝐞𝐫 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐠𝐨 𝐭𝐨: https://www.maximizemarketresearch.com/request-sample/100864/

𝐈𝐨𝐓 𝐢𝐧 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

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

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

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