The Business Research Company’s report on the IoT in construction Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the iot in construction industry?
The increasing demand for construction and infrastructure activities is expected to propel the growth of the IoT in the construction market going forward. Construction refers to an activity of putting together various elements to create a structure for a specific location, using a detailed design and plan. The IoT in the construction industry assists in developing a sustainable plan for employing recycled materials and using zero waste vocabulary. This can also assist in educating the labor force about the sustainable construction concept, as a result, increasing demand for construction activities increases the demand for IoT in construction. For instance, in November 2023, according to the Office for National Statistics, a UK-based Statistics Authority, total new work in the construction industry increased by $19781.69 million in 2022, with growth in both private and public new work, which increased by 16.8% and 13.1%, respectively, as compared to 2021. Therefore, increasing demand for construction and infrastructure activities is driving the growth of the IoT in the construction market.
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What is the estimated market size of the iot in construction sector by 2029, based on current forecasts?
The IoT in construction market size has grown rapidly in recent years. It will grow from$13.59 billion in 2024 to $15.66 billion in 2025 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to adoption of building information modeling (BIM), enhanced safety measures, efficiency and productivity gains, rise of smart buildings and infrastructure, cost reduction through automation
The IoT in construction market size is expected to see rapid growth in the next few years. It will grow to “$28.86 billion in 2029 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to 5g connectivity advancements, increased focus on sustainability, rise in remote construction monitoring, collaboration platforms and interoperability, demand for contactless construction operations. Major trends in the forecast period include emergence of digital twins, IoT-enabled safety solutions, asset tracking and management, predictive maintenance for equipment, data analytics for decision-making.
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#Who are the top players in the iot in construction market?
Major companies operating in the IoT in construction market include Trimble Inc., Pillar Technologies Inc., Triax Technologies, Brickeye LLC, Hilti Aktiengesellschaft, Topcon Corporation, Autodesk Inc., Oracle Corporation, Hexagon Metrology AB, Sigfox S.A., Caterpillar Inc., Losant IoT inc., Giatec Scientific Inc., WorldSensing S.L., Kore Wireless Group.Inc., Robert Bosch GmbH, Versatile Natures LLC, SiteAware Inc., SmartVid Inc., Reconstruct Inc., Rhumbix Inc., Bridgit Solutions Inc., PlanGrid Inc., Procore Technologies Inc., Fieldwire Inc., BuildingConnected Inc., Bluebeam Inc., Raken Inc., Honeywell International Inc.
#What are the major trends in the iot in construction market?
Technological advancements are the key trends gaining popularity in IoT in the construction market. Major companies operating in IoT in construction are developing new technologies for strengthening the demand for the market. For instance, in 2023, EarthCam, a US-based company that provides live streaming and time-lapse construction cameras launched IoT StreamCam 4K for retail interior construction. With the new IoT StreamCam 4K, one 4G LTE (long-term evolution) data connection may be shared by up to eight different low-power wireless devices. This affordable platform enables a variety of small, add-on cameras and IoT devices to record interior development and job site conditions. An efficient photo time clock that precisely records time-in and time-out can be made by connecting Door Cams to the platform, which will log visitors, track deliveries, and read basic QR codes. Flood, smoke, and glass-breakage alerts are just a few of the configurable IoT device alerts that are available.
Which geography holds the highest iot in construction market share?
North America was the largest region in the IoT in construction market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global IoT in construction market report during the forecast period. The regions covered in the IoT in construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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How do different segments contribute to the overall expansion of the iot in construction market?
The IoT in construction market covered in this report is segmented –
1) By Type: Hardware, Software, Connectivity, Services
2) By Application: Machine Control, Site Monitoring, Fleet Management, Wearables, Other Applications
3) By End User: Residential, Non-Residential
Subsegments:
1) By Hardware: Sensors, Cameras, Wearables, RFID Tags
2) By Software: Project Management Software, Building Information Modeling (BIM) Software, Asset Tracking Software
3) By Connectivity: Cellular Networks, Wi-Fi, Low Power Wide Area Networks (LPWAN), Satellite
4) By Services: Consulting Services, System Integration Services, Maintenance And Support Services
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How is the iot in construction market defined?
IoT in construction refers to internet-connected tools and equipment that are utilized to increase effectiveness and efficiency during construction projects. IoT (Internet of Things) keeps an eye on materials, personnel, and machinery, saves man-hours, and ensures that the building project continues on schedule. IoT is used in construction to keep track of the whereabouts, functionality, safety, and general condition of personnel, tools, and equipment.
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