Global IoT in construction Market: Industry Analysis and Forecast, 2020–2027
The global IoT in construction market report offers the complete market share, size, and the growth rate of different segments at both the country and regional levels. It provides an in-depth study of the market subtleties such as the current trends, drivers, opportunities, and even the restraining factors. The report also highlights the qualitative aspects in the study. Additionally, the unit takes in the key findings, in terms of market overview and investment prospects. The market report also involves the competitive landscape containing the profiles of top ten major players in the industry. The frontrunners have been thoroughly assessed based on their revenue size, service/product portfolio, regional presence, key plans & policies, and overall contribution to the growth of the market.
Internet of Things (IoT) has penetrated in nearly all industries, households, and offices, making human activities simpler. The inclusion of internet-connected devices in the construction industry also known as IoT in construction has benefitted the industry by reducing operational costs, enhanced productivities, and efficient project management
global IoT in construction market size is expected to reach $19,039.8 million in 2027, from $8,179.9 million in 2019, growing at a CAGR of 14.0% from 2020 to 2027.
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Covid-19 Scenario:
- Owing to temporary closure of manufacturing facilities and disruptions in the supply chain, the global IoT in construction market has been negatively impacted, especially in the initial period of the pandemic.
- Unavailability of raw materials and shortage of skilled labor force was a major challenge, which is why, carrying out manufacturing in full capacity was impossible.
- The demand from applications sectors reduced significantly due to stoppage of new construction, deployment, and maintenance activities during the lockdown. However, the demand is expected to regain during the post-lockdown.
The global IoT in construction market is segmented on the basis of application, end user, component, and region. Based on application, the market is fragmented into machine control, site monitoring, fleet management, wearables, and others. According to end user, it is categorized into residential and non-residential. By component, the market is classified into hardware, software, connectivity, and services.
Report coverage & details:
| Report Coverage | Details |
| Market size available for the years | 2022-2027 |
| Base year considered | 2021 |
| Forecast period | 2020-2027 |
| Forecast unit | Value (USD) |
| Segments covered | Product TypeApplicationEnd User |
| Regions covered | North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, Italy, and rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific)LAMEA (Latin America, the Middle East, and Africa) |
| Companies covered | Advanced Opto-Mechanical Systems and Technologies Inc., Autodesk, Inc., CalAmp Corporation, HEXAGON AB, Hilti Corporation, Oracle Corporation, Pillar Technologies, Inc., Topcon Corporation, Triax Technologies, Inc., Trimble, Inc. |
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Key Segments Covered
| BY APPLICATION | Asset monitoring Predictive maintenance Fleet management Wearables Others |
| BY END USER | Residential Non-residential |
| BY COMPONENT | Hardware Software Services Connectivity |
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging global IoT in construction market trends and dynamics.
- In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2019 and 2027.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive IoT in construction market opportunity analysis of all the countries is also provided in the report.
- The global IoT in construction market forecast analysis from 2020 to 2027 is included in the report.
- The key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry.