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Internet of Things (IoT) in Construction Market Demand, Trends, Share, Scope & Forecast To 2028

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Internet of Things (IoT) in Construction Market Demand, Trends, Share, Scope & Forecast To 2028

August 13
00:51 2021
Internet of Things (IoT) in Construction Market Demand, Trends, Share, Scope & Forecast To 2028
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The global Internet of Things (IoT) in construction market size is expected to reach USD 26.79 Billion in 2028 and register a robust revenue CAGR over the forecast period, according to latest analysis by Emergen Research.

Steady market revenue growth rate can be attributed to increasing adoption of Internet-connected device in the construction industry to address common workplace concerns. The construction industry is increasingly deploying IoT technology in order to overcome flat productivity, more schedule overruns, decreased margins, and increasing competition in the industry. Advancements within the fields of sensors technology, embedded code, property tools, and machinery related to IoT in construction industry offers preventive maintenance along with more advanced benefits and operational features.

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The report provides an extensive analysis of the competitive landscape of the Internet of Things (IoT) in Construction industry and covers the companies’ profiles, product portfolio, manufacturing and production capacity, market reach and share, revenue generation, and strategic business initiatives undertaken by the companies. The report offers a comprehensive analysis of the competitive strengths of the players and offers an individual analysis of the key competitors. Major companies profiled in the report are Caterpillar Inc., Autodesk, Oracle Corporation, Trimble, KORE Wireless Group, WorldSensing, Giatec Scientific Inc., Losant IoT, Sigfox, and CalAmp.

Some Key Highlights From the Report

  • In June 2020, Caterpillar Inc. announced the acquisition of selected assets and hired employees from Marble Robot, Inc., which is a San Francisco, California-based company dealing in robot and autonomy technology solutions. The acquisition is part of the automation and automation strategy of the company. With the help of the acquisition, the company can leverage the deep expertise of the new team and bring scalable solutions to meet the changing needs across the construction industry.
  • Commercial segment accounted for a significantly rapid revenue growth in the IoT in construction market in 2020. IoT technology is increasingly being adopted for the construction of commercial buildings to reduce energy consumption and enhance operational efficiency of these buildings.
  • North America accounted for largest revenue share contribution to the global IoT in construction market in 2020. Increasing investment by major players for advancement of Internet-connected devices utilized in the construction industry is contributing to growing demand for IoT technology in the construction industry.

Global Internet of Things (IoT) in Construction Market Scope and Size

The Internet of Things (IoT) in Construction Market is further segmented into product types, application spectrum, end-user industries, and technology, among others. The analysis of the different segments offers a deeper insight into the different growth factors that are expected to drive the growth of the market.

  • Components Outlook (Revenue, USD Billion; 2018–2028)
    • Software
    • Hardware
    • Services
  • Application Outlook (Revenue, USD Billion; 2018–2028)
    • Fleet Management
    • Predictive Management
    • Safety Management
    • Remote operations
    • Others
  • End-use Outlook (Revenue, USD Billion; 2018–2028)
    • Residential
    • Commercial

Additionally, the report offers market share data for the global spread of the Internet of Things (IoT) in Construction industry. Key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are studied to assess the market size, market share, production and consumption patterns, import/export, supply and demand ratio, and revenue contributions. Furthermore, the regions are also studied to understand the operations of the key players located in the region.

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Key Reasons to Buy This Report:

  • The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
  • It entails a detailed inspection of the Internet of Things (IoT) in Construction market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
  • The report provides the reader with a deep understanding of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and powerful business tactics.
  • Furthermore, the report identifies the key regions and segments that influence the Internet of Things (IoT) in Construction market.

Table of Content

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope  
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. IoT in Construction Market Segmentation & Impact Analysis
    4.1. IoT in Construction Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Rapid urbanization and growth in construction industry in developing countries 
                    4.2.2.2. Rising need for IoT-based automation for enhanced productivity
                    4.2.2.3. Increasing labor shortage
                    4.2.2.4. Rising need to enhance safety and security issues
                    4.2.2.5. Growing trend of digital construction
                    4.2.2.6. Emergence of AI and ML in construction sector 
          4.2.3. Market restraints analysis 
                    4.2.3.1. Data security and privacy issues
                    4.2.3.2. High initial investment
                    4.2.3.3. Disruptions in the construction industry due to the pandemic
    4.3. Technological Insights 
    4.4. Regulatory Framework
    4.5. Porter’s Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

CONTINUED…!!

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