IoT in Construction Market
IoT in Construction Market Size, Share & Trends Analysis Report by Component (Hardware, and Software) by Application (Fleet Management, Predictive Management, Safety Management, and Remote Operations) by End User (Residential and Non-Residential) Forecast 2022-2028 Update Available - Forecast 2024-2030
IoT in construction market is anticipated to grow at a significant CAGR of 15.5% during the forecast period. The inclusion of internet-connected devices in the construction industry has benefitted the sector by reducing operational costs, enhancing productiveness, and efficient project management. The introduction of smart technologies such as sensors, RFID tags, building information modeling, augmented reality, and others assist in recognizing potential risk on a construction site thereby avoiding accidents and fatalities, and wastage of time and money, which is expected to boost the IoT in construction market during the forecast period. Moreover, the construction sector is highly labor-intensive and includes working in highly risky environments. IoT is randomly used with wearable devices to monitor the health and safety of the people by providing automatic headcounts, identifying risk, and transmitting safety alters. As per Occupational Safety and Health Administration (OSHA), a part of the US Department of Labor, there are approximately 252,000 construction sites in the US that employ 6.5 million people.
Further, prominent market players are producing and launching new IoT solutions for the construction industry, which is expected to fuel market growth. For instance, in June 2020, Condat announced its partnership with Sigfox, to create CondatLink, an IoT solution capable of helping tunnel boring machine operators to better manage their supply and stock of sealant on construction sites. The CondatLink solution is available internationally and enables more precise information about the level of consumption of sealant on building sites. The device is attached to the drums as soon as they leave the production plant, the information obtained by this connected device is sent to Condat and their clients via the Sigfox 0G network and available on a dedicated tracking application.
Segmental Outlook
The global IoT in construction market is segmented based on component, applications, and end user. On the basis of component the market is bifurcated into hardware, and software. On the basis of applications, the market is sub-segmented into fleet management, predictive management, safety management, and remote operations. Based on end user, the market is sub-divided into residential, and non-residential. Based on application, the remote operation segment is expected to grow at a significant rate, owing to increasing adoption of IoT in the application for real-time monitoring and machine control. Furthermore, the use of IoT in remote operations allows for the transmission of data from connected products, and other properties, reducing outages, enabling wearable computing, and supporting operations in hazardous environments.
Regional Outlooks
The global IoT in construction market is further segmented based on geography including North America (The US, and Canada), Europe (Italy, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The European region is anticipated to grow at a significant rate owing to the rising construction projects in the region as a result of rapid urbanization is boosting the market growth. Moreover, the increase in the urban population results in more expansion of buildings, and apartments on the outskirts of the cities. For instance, as per Eurostat, the population of EU in 2022 was 446.8 million inhabitants. Hence, owing to rising population, coupled with surge in construction activity leads to the growth of the global IoT in construction market in European region.
Global IoT in Construction Market Growth, by Region 2021-2028
North America Region is expected to Witness a Higher Growth during the Forecast Period
The North American region is expected to hold a prominent share in the global IoT construction market. The penetration of advanced technologies and IoT devices in the construction industry, coupled with the presence of key players in the market such as Caterpillar, Oracle Corp., Giatec Corp., and others is projected to promote IoT technology deployment in the construction industry during the forecast period. For instance, in May 2022, Giatec Scientific inc. partnered with Heidelberg Cement to usher innovations in the concrete industry. By assisting Giatec’s technology Heidelberg Cement is further grow its digital offering that enables it to grow its global reach in over 50 countries across the globe.
Market Players Outlook
The major companies serving the global IoT in construction market are Autodesk, Cisco Systems Inc., Oracle Inc., SAP SE, Trimble Inc., Kore, losant IoT., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2021, Triax Technologies Inc. announced the launch of a streamlined IoT solution, Spot-r Radius, expanding its flagship Spot-r suite of solutions. Spot-r Radius is a self-deployed and lightweight wearable technology that provides worker-to-equipment based intelligence and automates headcount and hours for daily reporting and labor billing verification, and tracks equipment utilization.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global IoT in construction market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Autodesk, Inc.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Cisco Systems, Inc.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Oracle Inc.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. SAP SE
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Trimble Inc.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global IoT in Construction Market by Component
4.1.1. Hardware
4.1.2. Software
4.2. Global IoT in Construction Market by Application
4.2.1. Fleet Management
4.2.2. Predictive Management
4.2.3. Safety Management
4.2.4. Remote Operations
4.3. Global IoT in Construction Market by End User
4.3.1. Residential
4.3.2. Non-residential
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Amazon
6.2. CalAmp Corp.
6.3. Giatec Scientific Inc.
6.4. Hexagon AB
6.5. Kore Wireless Group
6.6. losant IoT
6.7. Pillar Technologies, Inc.
6.8. Telit
6.9. Topcon Corp.
6.10. Triax Technologies, Inc.
6.11. UnaBiz Pte., Ltd.
6.12. Worldsensing S.L.
1. GLOBAL IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
2. GLOBAL HARDWARE FOR IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL SOFTWARE FOR IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
5. GLOBAL IOT IN FLEET CONSTRUCTION MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL IOT IN PREDICTIVE CONSTRUCTION MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL IOT IN SAFETY CONSTRUCTION MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL IOT IN REMORE CONSTRUCTION OPERATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY END USER, 2021-2028 ($ MILLION)
10. GLOBAL IOT IN CONSTRUCTION FOR RESIDENTIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL IOT IN CONSTRUCTION FOR NON-RESIDENTIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. NORTH AMERICAN IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
15. NORTH AMERICAN IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
16. NORTH AMERICAN IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY END USER, 2021-2028 ($ MILLION)
17. EUROPEAN IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
18. EUROPEAN IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
19. EUROPEAN IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
20. EUROPEAN IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY END USER, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY END USER, 2021-2028 ($ MILLION)
25. REST OF THE WORLD IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. REST OF THE WORLD IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
27. REST OF THE WORLD IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
28. REST OF THE WORLD IOT IN CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY END USER, 2021-2028 ($ MILLION)
1. GLOBAL IOT IN CONSTRUCTION MARKET SHARE BY COMPONENT, 2021 VS 2028 (%)
2. GLOBAL HARDWARE FOR IOT IN CONSTRUCTION MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL SOFTWARE FOR IOT IN CONSTRUCTION MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL IOT IN CONSTRUCTION MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
5. GLOBAL IOT IN FLEET MANAGEMENT CONSTRUCTION MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL IOT IN PREDICTIVE CONSTRUCTION MANAGEMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL IOT IN SAFETY CONSTRUCTION MANAGEMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL IOT IN REMOTE CONSTRUCTION OPERATIONS MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL IOT IN CONSTRUCTION MARKET SHARE BY END USER, 2021 VS 2028 (%)
10. GLOBAL IOT IN CONSTRUCTION FOR RESIDENTIAL MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL IOT IN CONSTRUCTION FOR NON-RESIDENTIAL MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL IOT IN CONSTRUCTION MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. US IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
14. CANADA IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
15. UK IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
16. FRANCE IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
17. GERMANY IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
18. ITALY IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
19. SPAIN IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
20. REST OF EUROPE IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
21. INDIA IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
22. CHINA IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
23. JAPAN IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
24. SOUTH KOREA IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
25. REST OF ASIA-PACIFIC IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF THE WORLD IOT IN CONSTRUCTION MARKET SIZE, 2021-2028 ($ MILLION)
