Market Overview:

The global IoT in construction market reached a value of US$ 8.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 18.59 Billion by 2027, exhibiting a CAGR of 13.20% 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.

The internet of things (IoT) is a data network consisting of devices embedded with sensors, software, and technologies to connect and exchange data with other devices and systems over the internet. At present, the rates of fatal and non-fatal injuries among construction workers are high. As a result, IoT is increasingly being employed in the construction sector for optimal utilization of available resources with technological planning at low risks and minimal cost. IoT in construction automates hazard detection and safety monitoring of construction sites. It also helps businesses track employee movements and ensure that team members are working efficiently by equipping them with wearable technologies.

IoT in Construction Market Trends:

Presently, the rising automation in the construction sector represents one of the key factors bolstering the growth of the market. Besides this, conventional concrete curing methods have several limitations, such as difficulties supervising and controlling the required environmental moisture and temperature conditions. However, IoT devices enable data recording and concrete curing operations to occur automatically, thereby saving time and effort. These devices monitor air temperature, humidity, wind speed, and concrete temperature and moisture content. In addition, a water pump is installed within machines for the spraying of curing water when required, which is strengthening the market growth. Moreover, IoT devices are used during construction activities, such as plastering, surveying, bricklaying, asset tracking, worker tracking, risk management and construction site management. This, coupled with the increasing construction activities around the world, is positively influencing the market. Furthermore, the rising adoption of unmanned aerial vehicles (UAVs) and autonomous vehicles in the construction sector for the monitoring and surveillance of construction projects is projected to facilitate the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global IoT in construction market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on components, application and end user.

Breakup by Components:

• Hardware
• Software
• Services
   

Breakup by Application:

• Asset Monitoring
• Predictive Maintenance
• Fleet management
• Wearables
• Others
   

Breakup by End User:

• Residential
• Non-Residential
   

Breakup by Region:

• 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
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and WakeCap Technologies.

Report Coverage:

Key Questions Answered in This Report:

• How has the global IoT in construction market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global IoT in construction market?
• What are the key regional markets?
• What is the breakup of the market based on the components?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global IoT in construction market and who are the key players?
• What is the degree of competition in the industry?