About IoT in Construction
IoT in construction reduces all kinds of accidents, using digital solutions like sensors on workers clothing and hardhats, wearable that monitor for hazardous materials on the construction site, and sensors that monitor and alert workers entering unsafe site areas. Construction sites being connected by sensors, CCTV cameras and even drones enable Real-time reporting and all feeding data back to a central office where decisions can be made on a construction project. Hence, IoT enables continuous improvement.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global IoT in Construction market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Caterpillar Inc. (United States), Sigfox (France), Oracle Corporation (United States), CalAmp Corp. (United States), Losant IoT (United States), Giatec Scientific, Inc. (Canada), WorldSensing (Spain), Kore Wireless (United States), Trimble Inc. (United States) and Autodesk Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Tenna (United States), Hitachi, LTD (Japan), Longview Iot (Canada), Dronedeploy (United States) and Wakecap Technologies (United Arab Emirates).
Segmentation Overview
AMA Research has segmented the market of Global IoT in Construction market by Type (Commercial and Residential), Application (Remote Operations, Safety Management, Fleet Management, Predictive Maintenance and Others) and Region.
On the basis of geography, the market of IoT in Construction has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Project type, the sub-segment i.e. Commercial will boost the IoT in Construction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device, the sub-segment i.e. Wired will boost the IoT in Construction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Hardware will boost the IoT in Construction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Need for Digital Construction by Industry 4.0
Market Growth Drivers:
Rapid Urbanisation in Emerging Economies and Increased Productivity and Safety Due to Use of IoT
Challenges:
Dependence on Conventional Methods May Hamper the Market and Lack of Skilled Labours
Restraints:
High Costs Associated with Hardware and Software
Opportunities:
Increasing Construction Activities and Growing Number of Accidents in Workplace
Market Leaders and their expansionary development strategies
In June 2020, Caterpillar Inc.announced they’ve acquired select assets and hired employees from San Francisco, California based robot and autonomy technology solutions company Marble Robot, Inc. The acquisition is part of the company’s automation and autonomy strategy and demonstrates commitment to the next generation of jobsite solutions.
In February 2020, Kryton has launched Maturix Smart Concrete Sensor which is the first truly wireless concrete monitoring sensor in North America.
Key Target Audience
Device Manufacturers, Raw material suppliers, Government associations, Research organisations, Software vendors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.