Market Overview:
The global IoT in construction market is expected to grow from USD 2.02 billion in 2018 to USD 11.14 billion by 2030, at a CAGR of 24.8% during the forecast period. The growth of the global IoT in construction market can be attributed to the increasing demand for smart buildings and rising adoption of cloud-based services among construction companies. However, data security and privacy concerns may restrain the growth of this market during the forecast period. The hardware segment is expected to hold a larger share of the global IoT in construction market during the forecast period.
Product Definition:
IoT in construction is the use of internet-connected devices to manage and monitor construction projects. This can include things like automated machine sensors that track equipment usage, weather sensors to monitor for inclement weather, or even drones that can survey a construction site. The goal of using IoT in construction is to increase efficiency and safety by having real-time data on all aspects of the project.
Hardware:
Hardware is the physical components of a system. It includes sensors, actuators, controllers and other electronic devices that work together to perform desired functions. Hardware has been witnessing rapid growth in recent years owing to its increasing application across different industry verticals including construction & building automation and automotive among others.
The hardware used for construction applications can be broadly segmented into two categories namely Building Management Systems (BMS) and Smart Infrastructure System (SIS).
Software:
Software is the invisible part of the Internet of Things (IoT) in construction. It helps to collect data from different sources and analyze it. Software is used for automation, reporting, analytics, scheduling and budgeting among others. In this market space software solutions are designed to cater specific requirements of construction companies such as project management solutions for tracking projects from beginning to end; cost management solutions that help in reducing costs; risk management solution that helps in avoiding risks through automatic alerting on issues etc.
Application Insights:
The market is segmented based on application into safety management, fleet management, predictive maintenance, remote operations and others. The predictive maintenance segment is expected to witness the highest CAGR over the forecast period owing to its benefits such as asset reliability improvement and reduced downtime. In addition, it helps reduce costs associated with equipment failure by enabling real-time data collection from sensors or devices and provides a complete history of any change in conditions.
The remote operations segment accounted for more than 20% share of the overall revenue in 2017 due to its ability to monitor construction projects from afar thereby reducing human errors during actual execution of works at site level.
Regional Analysis:
The market in Asia Pacific is expected to grow at the highest rate over the forecast period. The growth can be attributed to increasing construction activities, coupled with growing adoption of IoT technologies across various industries. Increasing demand for smart buildings has also led to an increase in investments from companies such as Huawei Technologies Co., Ltd.; Samsung Electronics Co., Ltd.; and BBK Electronics Corporation among others. These investments are aimed at developing innovative solutions that would enhance productivity and reduce operational costs, thereby augmenting regional growth prospects.
North America accounted for a significant share of revenue owing to early adoption of IoT technologies across several sectors including manufacturing, transportation & logistics (T&L), oil & gas exploration, electricity distribution & generation as well as other areas where there is a need for real-time data exchange between different entities or systems. Moreover, presence of prominent players such as General Electric; Cisco Systems Inc.
Growth Factors:
- Increased demand for smart buildings and construction management systems that can automate processes and improve communication between contractors, architects, and engineers.
- The growing popularity of prefabricated construction which can speed up the building process while reducing waste.
- The increasing use of drones and other automated surveying technologies to help with site mapping, material sourcing, and quality control inspections.
- Advances in 3D printing technology that could enable on-site production of customized building components or even full structures.
- Growing interest in using IoT data to optimize energy usage in buildings, reduce greenhouse gas emissions, and improve overall sustainability performance
Scope Of The Report
Report Attributes
Report Details
Report Title
IoT in Construction Market Research Report
By Type
Hardware, Software, Services
By Application
Remote Operations, Safety Management, Fleet Management, Predictive Maintenance, Others
By Companies
PTC (ThingWorx), Cisco (Jasper), Microsoft, Google, IBM, Intel, SAP, Oracle, Amazon, Telit, General Electric, Gemalto, Zebra Technologies, AT&T
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
160
Number of Tables & Figures
112
Customization Available
Yes, the report can be customized as per your need.
Global IoT in Construction Market Report Segments:
The global IoT in Construction market is segmented on the basis of:
Types
Hardware, Software, Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Remote Operations, Safety Management, Fleet Management, Predictive Maintenance, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- PTC (ThingWorx)
- Cisco (Jasper)
- Microsoft
- Google
- IBM
- Intel
- SAP
- Oracle
- Amazon
- Telit
- General Electric
- Gemalto
- Zebra Technologies
- AT&T
Highlights of The IoT in Construction Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- Services
- By Application:
- Remote Operations
- Safety Management
- Fleet Management
- Predictive Maintenance
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the IoT in Construction Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
IoT in construction refers to the use of sensors and other technologies to manage and monitor construction projects. IoT can help managers track project progress, identify potential problems early on, and make adjustments as needed. It can also help ensure that workers are safe while working on a construction site, and that materials are being used properly.
Some of the key players operating in the iot in construction market are PTC (ThingWorx), Cisco (Jasper), Microsoft, Google, IBM, Intel, SAP, Oracle, Amazon, Telit, General Electric, Gemalto, Zebra Technologies, AT&T.
The iot in construction market is expected to register a CAGR of 24.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 IoT in Construction Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 IoT in Construction Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 IoT in Construction Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the IoT in Construction Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global IoT in Construction Market Size & Forecast, 2018-2028
4.5.1 IoT in Construction Market Size and Y-o-Y Growth
4.5.2 IoT in Construction Market Absolute $ Opportunity
Chapter 5 Global IoT in Construction Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 IoT in Construction Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.2.3 Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global IoT in Construction Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 IoT in Construction Market Size Forecast by Applications
6.2.1 Remote Operations
6.2.2 Safety Management
6.2.3 Fleet Management
6.2.4 Predictive Maintenance
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global IoT in Construction Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 IoT in Construction Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America IoT in Construction Analysis and Forecast
9.1 Introduction
9.2 North America IoT in Construction Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America IoT in Construction Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.6.3 Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America IoT in Construction Market Size Forecast by Applications
9.10.1 Remote Operations
9.10.2 Safety Management
9.10.3 Fleet Management
9.10.4 Predictive Maintenance
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe IoT in Construction Analysis and Forecast
10.1 Introduction
10.2 Europe IoT in Construction Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe IoT in Construction Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.6.3 Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe IoT in Construction Market Size Forecast by Applications
10.10.1 Remote Operations
10.10.2 Safety Management
10.10.3 Fleet Management
10.10.4 Predictive Maintenance
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific IoT in Construction Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific IoT in Construction Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific IoT in Construction Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.6.3 Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific IoT in Construction Market Size Forecast by Applications
11.10.1 Remote Operations
11.10.2 Safety Management
11.10.3 Fleet Management
11.10.4 Predictive Maintenance
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America IoT in Construction Analysis and Forecast
12.1 Introduction
12.2 Latin America IoT in Construction Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America IoT in Construction Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.6.3 Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America IoT in Construction Market Size Forecast by Applications
12.10.1 Remote Operations
12.10.2 Safety Management
12.10.3 Fleet Management
12.10.4 Predictive Maintenance
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) IoT in Construction Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) IoT in Construction Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) IoT in Construction Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.6.3 Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) IoT in Construction Market Size Forecast by Applications
13.10.1 Remote Operations
13.10.2 Safety Management
13.10.3 Fleet Management
13.10.4 Predictive Maintenance
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 IoT in Construction Market: Competitive Dashboard
14.2 Global IoT in Construction Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 PTC (ThingWorx)
14.3.2 Cisco (Jasper)
14.3.3 Microsoft
14.3.4 Google
14.3.5 IBM
14.3.6 Intel
14.3.7 SAP
14.3.8 Oracle
14.3.9 Amazon
14.3.10 Telit
14.3.11 General Electric
14.3.12 Gemalto
14.3.13 Zebra Technologies
14.3.14 AT&T
