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The global construction 4.0 market reached a value of US$ 11.88 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 30.54 Billion by 2027, exhibiting a growth rate (CAGR) of 16.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Construction 4.0 is a subset of industry 4.0 comprising interconnected technologies that digitize, automate and integrate the construction process throughout the value chain. It relies on the internet of things (IoT), digital twin, additive manufacturing, cloud computing, cyber-physical systems (CPS), and building information modeling (BIM). It helps lower energy use, develop 3D models that avoid inefficiencies and delays in projects, and reduce waste materials and carbon emissions during construction. It also minimizes security risks of workers through augmented reality (AR) and virtual reality (VR) solutions.
At present, there is a rise in the utilization of artificial intelligence (AI) in the construction industry across the globe. This, along with the escalating need for new technologies in bricklaying, plastering, surveying, site and risk management, and worker and asset tracking, represents one of the key factors driving the market. Moreover, construction drones are used for security, inspection and monitoring of construction activities around the world. In addition, waste optimization and proper time and resource management in the construction industry are propelling the growth of the market. Besides this, the growing adoption of industrial 4.0 technologies in construction activities to enhance remote monitoring and avoid human errors, are contributing to the growth of the market. Additionally, there is an increase in the construction of new roads and highways, especially in developing nations, which is offering lucrative growth opportunities to industry investors and end-users. Other growth-inducing factors are rapid digitization and the rising urban population worldwide. Furthermore, key market players are focusing on partnerships, acquisitions, and product launches to improve products and services, which is projected to strengthen the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global construction 4.0 market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on solution, technology, application and end user.
Breakup by Solution:
Breakup by Technology:
Breakup by Application:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Autodesk Inc, Brickeye, CalAmp Corp., Hexagon AB, Hilti Corporation, Mitsubishi Electric Corporation, Oracle Corporation, Topcon Corporation and Trimble Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Solution, Technology, Application, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||ABB Ltd., Autodesk Inc, Brickeye, CalAmp Corp., Hexagon AB, Hilti Corporation, Mitsubishi Electric Corporation, Oracle Corporation, Topcon Corporation and Trimble Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global construction 4.0 market was valued at US$ 11.88 Billion in 2021.
We expect the global construction 4.0 market to exhibit a CAGR of 16.20% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous construction activities, thereby negatively impacting the global market for construction 4.0.
The rising adoption of industrial 4.0 technologies in construction activities to enhance remote monitoring and avoid human errors is primarily driving the global construction 4.0 market.
Based on the solution, the global construction 4.0 market has been divided into hardware, software, and services. Among these, hardware exhibits a clear dominance in the market.
Based on the technology, the global construction 4.0 market can be categorized into IoT, artificial intelligence, industrial robots, and others. Currently, IoT accounts for the majority of the total market share.
Based on the application, the global construction 4.0 market has been segregated into asset monitoring, predictive maintenance, fleet management, wearables, and others, where asset monitoring currently holds the largest market share.
Based on the end user, the global construction 4.0 market can be bifurcated into residential and non-residential. Currently, the non-residential sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global construction 4.0 market include ABB Ltd., Autodesk Inc, Brickeye, CalAmp Corp., Hexagon AB, Hilti Corporation, Mitsubishi Electric Corporation, Oracle Corporation, Topcon Corporation, and Trimble Inc.
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