The Internet of Things (IoT) in Construction Market size is expected to grow from USD 12.3 Billion in 2022 to USD 41.91 Billion by 2030, at a CAGR of 16.56% during the forecast period.
Internet of Things (IoT) in Construction refers to the implementation of IoT solutions in various activities involved in the Construction Industry, at a very primary level, the application of IoT in Construction can be explained as, providing a location where equipment, material, and staff are connected to a central server that further regulates and monitors their activities in real-time and remote mode. Presently, many different devices are used for many different applications in the construction industry. The industry is growing to accommodate evolving changes in the world. The emerging evolution has forced the Construction industry too to utilize innovative technologies like IoT in industry operations, and hence, Construction companies are increasingly adopting IoT technology in order to tackle common workplace challenges and set a proper operational flow to achieve enhanced efficiency and Quench the increasing demands of the industry.
Top Key Players Covered In Global Internet of Things (IoT) in Construction Market
Autodesk Inc(US), Losant IoT (US), HMS Networks (Sweden), Pillar Technologies Inc. (US), Oracle Corporation (US), Sigfox (France), Hexagon AB (Sweden), CalAmp (US), Topcon Corporation (Japan), WorldSensing (Spain), Hilti Corp (Liechtenstein), Buildings IOT (US), Trimble Inc. (US), Arkance Systems (France), Brickeye (Canada), Kore Wireless (US) and Other Major Players
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Segmentation Analysis of The Internet of Things (IoT) in Construction Market:
By Solution
- Hardware
- Software
- Services
By Application
- Remote Operations
- Machine Control
- Safety Management
- Predictive Maintenance
- Fleet Management
- Others
By Project Type
- Residential
- Non-residential
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Regional Analysis Of Internet of Things (IoT) in Construction Market
The Internet of Things (IoT) in the construction industry is dominated by North America, which is expected to grow at a significant compound annual growth rate (CAGR) due to the presence of numerous corporations with headquarters located in the US and Canada, such as Autodesk, Inc., CalAmp Crop, and Oracle Corporation, among many others. These large market players are opulent and are continuously transforming the tech industry. North America is currently the second-largest IoT consumer in the construction industry, mostly due to the market players' rapid adoption of new and innovative technologies in both the American and Canadian markets.
By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Developments in the Global Internet of Things (IoT) in Construction Market
In May 2022, US-based Buildings IOT launched its UK operations to serve the unique needs of building stakeholders in Europe and to support the UK Government to reach its goals to decarbonize buildings and help advance Net-Zero initiatives. Buildings IOT will market its IOT Jetstream smart building platform for building owners, managers, investors, contractors, and systems integrators in the UK and across Europe.
In October 2021, Siemens Smart Infrastructure completed the acquisition of France-based Wattsense, a hardware and software company to boost IoT systems for small and medium buildings. Wattsense offers an innovative, plug-and-play IoT management system for small and mid-size buildings and also optimizes the technical management of small and mid-size buildings with a leading IoT solution that combines simplicity and interoperability, which will help in expanding Siemens’ building products portfolio.
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