IoT in Construction Market was valued US$ 10.07 Bn in 2022 and is expected to reach US$ 24.74 Bn by 2029, at a CAGR of 13.7%.IoT in Construction Market Introduction
With the rise of urbanization and population density, the construction industry has become one of the most important contributors to global development. According to statistics, construction accounted for 13.2% of global GDP by the end of the year 2022. The Internet of Things (IoT) is rapidly transforming the construction industry's operations. Companies can now use IoT technology to promote construction safety, performance, and sustainability in a variety of ways, almost to the point of making the impossible possible.To know about the Research Methodology :- Request Free Sample Report Here are some examples; Sensors, RFID tags, building information modelling, virtual reality, and other smart technology aid in identifying possible hazards on a construction site, reducing resource requirements, preventing injuries and casualties, and wasting time and money.
IoT in Construction Market Dynamics
Trench collapse, falls, scaffold collapse, lack of adequate protective equipment, repetitive motion injuries, and other hazards may occur on construction sites. The use of smart wearable’s such as smart glasses, wearable cameras, protective vests, wearable, smart helmets, and other IoT devices in construction allows for real-time safety monitoring on the job site. Simultaneously, rapid technical advances, many upcoming construction ventures, and industry 4.0 are driving up demand for digital construction, which will positively affect the market's rising demand. Adoption of Building Information Modelling BIM stands for building a digital model of a project. Many construction managers use BIM software, which enables them to create a digital model of a project based on real-time construction and maintenance data. IoT is transforming construction by delivering a steady stream of relevant data that, when combined with BIM, can be shared with all stakeholders involved in the project and visually represented in a dashboard. Lowering the project's costs IoT devices assist site managers in keeping track of daily expenditures and monitoring construction resource efficiency by tracking supply and assets. The Internet of Things lowers project costs by ensuring that new equipment and other services arrive on time — This way, the entire team makes efficient use of its time, and the project manager does not have to extend the crew's contracts before the project is finished. Maintenance that is planned ahead of time Predictive maintenance technologies are used in construction to track the condition of heavy machineries such as lifts, excavators, and other machines. Company owners may spot performance problems early on and fix the equipment until it breaks down and causes project downtime by adding sensors to monitor fuel consumption or brake temperature to a computer.IoT in Construction Market Segment Analysis
The Software segment is expected to grow at a faster CAGR of xx% over the forecast period as a result of increased investments by several companies in the production of software that can represent a variety of parameters. Furthermore, the segment's demand will be boosted by the increased adoption of analytics for improving decision-making processes. Triax Technologies, based in the United States, launched the Intrinsically Safe (IS) version of its IoT solution for use on construction sites in July 2022. During the COVID-19 pandemic, the IS version is available on the Spot-r network and Proximity Trace hardware devices, which include touch tracing and social distancing technologies on construction sites. Because of the increasing adoption of IoT in the application for real-time monitoring and machine control, the Remote Operations segment is expected to grow at a CAGR of xx% during the forecast period. Furthermore, the use of IoT in remote operations allows for the transmission of data from connected products and other properties, reducing outages, enabling wearable computing, and supporting operations in hazardous environments. Both of these factors would bolster the segment's expansion. Komatsu's construction will soon allow monitoring construction planning, management, schedule, costs, and process optimization remotely and in near real-time thanks to the company's upcoming Smart Construction technologies, which will harness the power of the Internet of Things. Komatsu's Smart Construction roadmap, which was unveiled at a special event at Booth N-10825 at CONEXPO-CON/AGG 2022 to help the digital transformation of its customers' workplaces, comprises 11 new technologies that will be available this year.IoT in Construction Market Regional Insights
In 2022, North America dominated the IoT in the construction industry with a market share of xx%, and this trend is expected to continue in the forecast period. The United States and Canada make up the North American region. North America's strong market share can be attributed to the region's numerous construction OEMs adopting IoT in their projects. Oracle Corporation, Caterpillar Inc., and CalAmp Corp. are a few of the IoT construction companies with headquarters in the city. The area is seeing increased investment in infrastructure and building projects, which is helping to drive IoT adoption in the North American construction industry. The market for the internet of things (IoT)-enabled industrial machinery and construction equipment was estimated to be worth about 900 billion Japanese yen in 2022. The market is expected to grow steadily until 2024 when it will hit a value of over 1.3 trillion yen.IoT in Construction Market Report Scope: Inquire before buying
IoT in Construction Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 10.07 Bn. Forecast Period 2023 to 2029 CAGR: 13.7% Market Size in 2029: US $ 24.74 Bn. Segments Covered: by Offering Hardware Software Services by Project Type Commercial Residential by Application Remote Operations Safety Management Fleet Management Predictive Maintenance Others IoT in Construction Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)IoT in Construction Market, Key Players are
1. Caterpillar Inc. 2. Sigfox 3. Oracle 4. CalAmp Corp 5. Losant IoT 6. Giatec Scientific, Inc. 7. WorldSensing 8. Kore Wireless 9. Trimble Inc. 10. Autodesk Inc 11. Triax technologies 12. Trimble, Inc. 13. Pillar Technologies Inc. 14. AOMS Technologies 15. Topcon Corporation 16. Hilti Corporation Frequently Asked Questions: 1. Which region has the largest share in Global IoT in Construction Market? Ans: North America region held the highest share in 2022. 2. What is the growth rate of Global IoT in Construction Market? Ans: The Global IoT in Construction Market is growing at a CAGR of 13.7% during forecasting period 2023-2029. 3. What is scope of the Global IoT in Construction market report? Ans: Global IoT in Construction Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global IoT in Construction market? Ans: The important key players in the Global IoT in Construction Market are – Caterpillar Inc., Sigfox, Oracle, CalAmp Corp, Losant IoT, Giatec Scientific, Inc., WorldSensing, Kore Wireless, Trimble Inc., Autodesk Inc, Triax technologies, Trimble, Inc., Pillar Technologies Inc., AOMS Technologies, Topcon Corporation, and Hilti Corporation 5. What is the study period of this market? Ans: The Global IoT in Construction Market is studied from 2022 to 2029.
1.Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global IoT in Construction Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2021 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the IoT in Construction Market 3.4. Geographical Snapshot of the IoT in Construction Market, By Manufacturer share 4. Global IoT in Construction Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global IoT in Construction Market 5. Supply Side and Demand Side Indicators 6. Global IoT in Construction Market Analysis and Forecast, 2022-2029 6.1. Global IoT in Construction Market Size & Y-o-Y Growth Analysis. 7. Global IoT in Construction Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 7.1.1. Hardware 7.1.2. Software 7.1.3. Services 7.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 7.2.1. Commercial 7.2.2. Residential 7.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 7.3.1. Remote Operations 7.3.2. Safety Management 7.3.3. Fleet Management 7.3.4. Predictive Maintenance 7.3.5. Others 8. Global IoT in Construction Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America IoT in Construction Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 9.1.1. Hardware 9.1.2. Software 9.1.3. Services 9.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 9.2.1. Commercial 9.2.2. Residential 9.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 9.3.1. Remote Operations 9.3.2. Safety Management 9.3.3. Fleet Management 9.3.4. Predictive Maintenance 9.3.5. Others 10. North America IoT in Construction Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. IoT in Construction Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 11.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 12. Canada IoT in Construction Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 12.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 13. Mexico IoT in Construction Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 13.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 14. Europe IoT in Construction Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 14.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 15. Europe IoT in Construction Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. IoT in Construction Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 16.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 17. France IoT in Construction Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 17.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 18. Germany IoT in Construction Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 18.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 19. Italy IoT in Construction Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 19.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 20. Spain IoT in Construction Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 20.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 21. Sweden IoT in Construction Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 21.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 22. CIS Countries IoT in Construction Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 22.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 23. Rest of Europe IoT in Construction Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 23.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 24. Asia Pacific IoT in Construction Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 24.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 25. Asia Pacific IoT in Construction Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China IoT in Construction Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 26.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 27. India IoT in Construction Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 27.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 28. Japan IoT in Construction Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 28.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 29. South Korea IoT in Construction Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 29.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 30. Australia IoT in Construction Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 30.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 31. ASEAN IoT in Construction Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 31.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 32. Rest of Asia Pacific IoT in Construction Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 32.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 33. Middle East Africa IoT in Construction Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 33.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 34. Middle East Africa IoT in Construction Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa IoT in Construction Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 35.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 36. GCC Countries IoT in Construction Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 36.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 37. Egypt IoT in Construction Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 37.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 38. Nigeria IoT in Construction Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 38.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 39. Rest of ME&A IoT in Construction Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 39.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 40. South America IoT in Construction Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 40.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 41. South America IoT in Construction Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil IoT in Construction Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 42.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 43. Argentina IoT in Construction Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 43.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 44. Rest of South America IoT in Construction Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Offering, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Project Type, 2022-2029 44.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global IoT in Construction Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. Caterpillar 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Sigfox 45.3.3. Oracle 45.3.4. CalAmp Corp 45.3.5. Losant IoT 45.3.6. Giatec Scientific, Inc. 45.3.7. WorldSensing 45.3.8. Kore Wireless 45.3.9. Trimble Inc. 45.3.10. Autodesk Inc 45.3.11. Triax technologies 45.3.12. Trimble, Inc. 45.3.13. Pillar Technologies Inc. 45.3.14. AOMS Technologies 45.3.15. Topcon Corporation 45.3.16. Hilti Corporation 45.3.17. Other Key Players 46. Primary Key Insights