IoT in Construction Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
IoT in Construction Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global IoT in construction market size reached US$ 9.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 20.9 Billion by 2028, exhibiting a growth rate (CAGR) of 12.7% during 2023-2028.
The internet of things (IoT) is a data network consisting of devices embedded with sensors, software, and technologies to connect and exchange data with other devices and systems over the internet. At present, the rates of fatal and non-fatal injuries among construction workers are high. As a result, IoT is increasingly being employed in the construction sector for optimal utilization of available resources with technological planning at low risks and minimal cost. IoT in construction automates hazard detection and safety monitoring of construction sites. It also helps businesses track employee movements and ensure that team members are working efficiently by equipping them with wearable technologies.
IoT in Construction Market Trends:
Presently, the rising automation in the construction sector represents one of the key factors bolstering the growth of the market. Besides this, conventional concrete curing methods have several limitations, such as difficulties supervising and controlling the required environmental moisture and temperature conditions. However, IoT devices enable data recording and concrete curing operations to occur automatically, thereby saving time and effort. These devices monitor air temperature, humidity, wind speed, and concrete temperature and moisture content. In addition, a water pump is installed within machines for the spraying of curing water when required, which is strengthening the market growth. Moreover, IoT devices are used during construction activities, such as plastering, surveying, bricklaying, asset tracking, worker tracking, risk management and construction site management. This, coupled with the increasing construction activities around the world, is positively influencing the market. Furthermore, the rising adoption of unmanned aerial vehicles (UAVs) and autonomous vehicles in the construction sector for the monitoring and surveillance of construction projects is projected to facilitate the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global IoT in construction market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on components, application and end user.
Breakup by Components:
Hardware
Software
Services
Breakup by Application:
Asset Monitoring
Predictive Maintenance
Fleet management
Wearables
Others
Breakup by End User:
Residential
Non-Residential
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Autodesk Inc., CalAmp, Ferrovial S.A., Giatec Scientific Inc., Hilti Corporation, International Business Machines Corporation, Oracle Corporation, Procore Technologies Inc., Sigfox, Topcon Corporation, Trimble Inc. and WakeCap Technologies.
Key Questions Answered in This Report:
How has the global IoT in construction market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global IoT in construction market?
What are the key regional markets?
What is the breakup of the market based on the components?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global IoT in construction market and who are the key players?
What is the degree of competition in the industry?
Market Overview:
The global IoT in construction market size reached US$ 9.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 20.9 Billion by 2028, exhibiting a growth rate (CAGR) of 12.7% during 2023-2028.
The internet of things (IoT) is a data network consisting of devices embedded with sensors, software, and technologies to connect and exchange data with other devices and systems over the internet. At present, the rates of fatal and non-fatal injuries among construction workers are high. As a result, IoT is increasingly being employed in the construction sector for optimal utilization of available resources with technological planning at low risks and minimal cost. IoT in construction automates hazard detection and safety monitoring of construction sites. It also helps businesses track employee movements and ensure that team members are working efficiently by equipping them with wearable technologies.
IoT in Construction Market Trends:
Presently, the rising automation in the construction sector represents one of the key factors bolstering the growth of the market. Besides this, conventional concrete curing methods have several limitations, such as difficulties supervising and controlling the required environmental moisture and temperature conditions. However, IoT devices enable data recording and concrete curing operations to occur automatically, thereby saving time and effort. These devices monitor air temperature, humidity, wind speed, and concrete temperature and moisture content. In addition, a water pump is installed within machines for the spraying of curing water when required, which is strengthening the market growth. Moreover, IoT devices are used during construction activities, such as plastering, surveying, bricklaying, asset tracking, worker tracking, risk management and construction site management. This, coupled with the increasing construction activities around the world, is positively influencing the market. Furthermore, the rising adoption of unmanned aerial vehicles (UAVs) and autonomous vehicles in the construction sector for the monitoring and surveillance of construction projects is projected to facilitate the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global IoT in construction market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on components, application and end user.
Breakup by Components:
Hardware
Software
Services
Breakup by Application:
Asset Monitoring
Predictive Maintenance
Fleet management
Wearables
Others
Breakup by End User:
Residential
Non-Residential
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Autodesk Inc., CalAmp, Ferrovial S.A., Giatec Scientific Inc., Hilti Corporation, International Business Machines Corporation, Oracle Corporation, Procore Technologies Inc., Sigfox, Topcon Corporation, Trimble Inc. and WakeCap Technologies.
Key Questions Answered in This Report:
How has the global IoT in construction market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global IoT in construction market?
What are the key regional markets?
What is the breakup of the market based on the components?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global IoT in construction market and who are the key players?
What is the degree of competition in the industry?
Table of Contents
143 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global IoT in Construction Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Components
- 6.1 Hardware
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Software
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Services
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 7 Market Breakup by Application
- 7.1 Asset Monitoring
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Predictive Maintenance
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Fleet management
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Wearables
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 8 Market Breakup by End User
- 8.1 Residential
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Non-Residential
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
- 10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
- 11 Value Chain Analysis
- 12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
- 13 Price Analysis
- 14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Autodesk Inc.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 CalAmp
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Ferrovial S.A.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Giatec Scientific Inc.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 Hilti Corporation
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 SWOT Analysis
- 14.3.6 International Business Machines Corporation
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Oracle Corporation
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 Procore Technologies Inc.
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.9 Sigfox
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Topcon Corporation
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Trimble Inc.
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.11.4 SWOT Analysis
- 14.3.12 WakeCap Technologies
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
Pricing
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