The global Internet of Things (IoT) in construction market size is expected to reach USD 26.79 Billion in 2028 and register a robust revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth rate can be attributed to increasing adoption of Internet-connected device in the construction industry to address common workplace concerns. The construction industry is increasingly deploying IoT technology in order to overcome flat productivity, more schedule overruns, decreased margins, and increasing competition in the industry. Advancements within the fields of sensors technology, embedded code, property tools, and machinery related to IoT in construction industry offers preventive maintenance along with more advanced benefits and operational features. Predictive maintenance technologies are increasingly being adopted in the construction industry to track the state or status of heavy equipment and monitor fuel consumption of a machines and vehicles in order to gain clear insights regarding overall performance and efficiency. These factors are driving steady demand for IoT technology in the construction industry. Rising need to ensure improved safety of workforce and personnel and to enhance productivity is also resulting in increasing adoption of wearables in the construction industry. Some include devices such as smart watches, AR googles, and smart helmets. Microsleep prevention, smart monitoring of hazardous gases, and fall prevention are some advantages of wearables, of which adoption has been increasing steadily in the construction industry in the recent past.
The researchers have considered all the factors influencing the growth of the Internet of Things in Construction market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Internet of Things in Construction market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Internet of Things in Construction market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
Caterpillar Inc., Autodesk, Oracle Corporation, Trimble, KORE Wireless Group, WorldSensing, Giatec Scientific Inc., Losant IoT, Sigfox, and CalAmp
Research Report on the Internet of Things in Construction Market Addresses the Following Key Questions:
- Who are the dominant players of the Internet of Things in Construction market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Internet of Things in Construction market?
- What are the key growth drivers and restraining factors of the Internet of Things in Construction market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Internet of Things in Construction market and its key segments?
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Emergen Research has segmented the global Internet of Things in Construction market on the basis of type, type of care, and region
Segments Covered in this report are:
Components Outlook (Revenue, USD Billion; 2018–2028)
- Software
- Hardware
- Services
Application Outlook (Revenue, USD Billion; 2018–2028)
- Fleet Management
- Predictive Management
- Safety Management
- Remote Operations
- Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Residential
- Commercial
In conclusion, the Internet of Things in Construction Market report is an exhaustive database that will help readers formulate lucrative strategies. The Internet of Things in Construction Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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