Iot In Construction Market Report 2023: Global Size, Share & Forecast till 2028

Global IoT in Construction Market Overview 2023-2028

The term "Internet of Things" (IoT) in the construction sector pertains to the incorporation of interconnected devices, sensors, and intelligent technologies into the construction industry. Its primary objectives are to optimize operational efficiency, bolster safety measures, and streamline project management. IoT facilitates the collection and exchange of data, enables real-time monitoring and analysis, and efficiently governs diverse construction processes. It effortlessly captures crucial information, including equipment performance, environmental conditions, worker safety, and material usage. With its capacity to enhance decision-making and furnish actionable insights to project managers, stakeholders, and construction teams, the global demand for IoT in construction is on a significant rise.

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.

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Global IoT in Construction Market Trends and Drivers:

Currently, a significant upswing in global infrastructure development initiatives stands as a prominent driver propelling market expansion. Additionally, there is a growing demand for construction solutions that enhance productivity and trim operational expenses, which augurs well for the market's prospects. Furthermore, the heightened emphasis on worker safety and the reduction of on-site accidents is fortifying market growth. Moreover, the escalating adoption of IoT solutions in construction, facilitating seamless communication and collaboration among project stakeholders, is fostering market growth. Furthermore, the increasing utilization of construction solutions that enable real-time monitoring and optimize energy consumption, waste management, and resource utilization is presenting lucrative growth opportunities for industry investors.

Global IoT in Construction Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are:

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.
WakeCap Technologies.

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The report segmented the market on the basis of region, components, application and end user.

Components Insights:

Hardware
Software
Services

Application Insights:

Asset Monitoring
Predictive Maintenance
Fleet management
Wearables
Others

End User Insights:

Residential
Non-Residential

Regional Insights:

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

Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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