IoT In Construction Market

According to the latest report by IMARC Group, title “IoT in Construction Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global IoT in construction market reached 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.

IoT In Construction Industry Outlook:

The internet of things (IoT) represents a data network consisting of devices embedded with sensors, software, technologies, etc., to connect as well as exchange data with other devices and systems over the internet. IoT in construction assists in tracking employee movements and ensuring that team members are working efficiently by equipping them with wearable technologies. In addition to this, it automates hazard detection and safety monitoring of construction sites. As such, IoT finds extensive applications across the construction sector for optimal utilization of available resources with technological planning at low risks and minimal costs.

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Market Trends:

The rising adoption of water pumps that are installed within machines for the spraying of curing water when required is primarily driving the IoT in construction market. Additionally, the widespread adoption of IoT devices during construction activities, such as plastering, surveying, bricklaying, asset tracking, worker tracking, risk management, construction site management, etc., is further catalyzing the market growth.

Besides this, the growing number of construction activities across countries is acting as another significant growth-inducing factor. Moreover, IoT devices monitor air temperatures, humidity, wind speed, concrete temperatures, moisture content, etc., and enable data recording, which is also positively influencing the global market.

Apart from this, the escalating demand for unmanned aerial vehicles (UAVs) and autonomous vehicles for the surveillance of construction projects is anticipated to fuel the IoT in construction market over the forecasted period.

Key Market Segmentation:

The report has been segmented the market into following categories:

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 Geography:

  • 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

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List of Key Companies Covered in this Market Report:

The major players in the market 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. and WakeCap Technologies.

Note: We are updating our reports, if you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

About IMARC Group:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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