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IoT in Construction Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032

Publisher Global Market Insights
Published Sep 10, 2024
Length 240 Pages
SKU # GMI19309920

Description

IoT in Construction Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032


The Global IoT In Construction Market was valued at USD 14.8 billion in 2023 and will grow at a 14.1% CAGR between 2024 and 2032, attributed to real-time monitoring and reporting coupled with the increased demand for smart buildings. IoT technologies enable continuous monitoring of construction sites, equipment, and environmental conditions, providing valuable data for project management and enhancing efficiency. Additionally, the push for smart buildings encourages the integration of IoT solutions that optimize energy usage, improve safety, and streamline operations. As stakeholders prioritize sustainability and innovation, the adoption of IoT technologies in construction will continue to expand, fostering sizable market growth.

The IoT in construction industry is segmented based on component, deployment mode, technology, application, end-user, and region.

The software segment witnessed a 49% share in 2023 and will reach 26.8% CAGR through 2032 due to its critical role in data management, analysis, and integration. As construction projects generate vast amounts of data from various IoT devices, robust software solutions are essential for processing this information and providing actionable insights. These software applications facilitate real-time monitoring, predictive maintenance, and project management, enhancing overall efficiency and decision-making. As the construction industry increasingly embraces digital transformation, the demand for sophisticated IoT software solutions will continue to drive significant market growth.

The project management segment accumulated 26% share in 2023, attributed to its pivotal role in enhancing efficiency and coordination. IoT technologies provide real-time data and insights, enabling project managers to monitor progress, track resources, and manage schedules more effectively. By integrating IoT solutions, construction firms can identify potential issues before they escalate, streamline communication among stakeholders, and improve overall project outcomes. As the industry increasingly relies on data-driven strategies, the project management segment will continue to see substantial growth and adoption.

North America IoT in construction market upheld 34% share in 2023, driven by the region's advanced infrastructure, ample investments in smart technologies, and a growing emphasis on efficiency and safety in construction projects. Furthermore, the adoption of IoT solutions is facilitated by a strong presence of tech companies and a supportive regulatory environment. This combination of technological advancement and investment creates a robust market landscape, positioning North America as a crucial contributor in the IoT in construction industry.

Table of Contents

240 Pages
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates & calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 IoT device manufacturers
3.2.2 Software providers
3.2.3 Cloud service providers
3.2.4 System integrators
3.2.5 End-users
3.3 Profit margin analysis
3.4 End-user & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Support in data driven decision making
3.8.1.2 Improves safety at the construction site
3.8.1.3 Growing adoption of smart equipment and machinery
3.8.1.4 Increasing demand for smart buildings
3.8.2 Industry pitfalls & challenges
3.8.2.1 Integration issues with existing systems
3.8.2.2 High initial costs
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Component, 2021 - 2032 ($Bn)
5.1 Key trends
5.2 Hardware
5.3 Software
5.4 Services
Chapter 6 Market Estimates & Forecast, By Deployment Mode, 2021 - 2032 ($Bn)
6.1 Key trends
6.2 Cloud-based
6.3 On-premises
6.4 Hybrid
Chapter 7 Market Estimates & Forecast, By Technology, 2021 - 2032 ($Bn)
7.1 Key trends
7.2 Artificial intelligence
7.3 Big data analytics
7.4 Cloud computing
7.5 Augmented reality and virtual reality
7.6 Others
Chapter 8 Market Estimates & Forecast, By Application, 2021 - 2032 ($Bn)
8.1 Key trends
8.2 Real time asset tracking and monitoring
8.3 Site and worker safety
8.4 Project management
8.5 Quality control and compliance
8.6 Energy management and smart buildings
8.7 Predictive maintenance
8.8 Others
Chapter 9 Market Estimates & Forecast, By End-user, 2021 - 2032 ($Bn)
9.1 Key trends
9.2 Construction companies
9.3 Government and public sector
9.4 Equipment manufacturers
9.5 Others
Chapter 10 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Russia
10.3.7 Nordics
10.3.8 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Southeast Asia
10.4.7 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.5.4 Rest of Latin America
10.6 MEA
10.6.1 UAE
10.6.2 South Africa
10.6.3 Saudi Arabia
10.6.4 Rest of MEA
Chapter 11 Company Profiles
11.1 Autodesk
11.2 CalAmp
11.3 Caterpillar
11.4 Giatec
11.5 Hexagon AB
11.6 Hilti
11.7 Kreo
11.8 Losant IoT
11.9 Oracle
11.10 Rider Levett Bucknall (rlb)
11.11 Samsung
11.12 SAP SE
11.13 Sigfox
11.14 SiteAware
11.15 SmartSense Consulting Solutions
11.16 Tenna
11.17 Topcon Positioning Systems
11.18 Trimble
11.19 Wipro
11.20 World Sensing

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