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.

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The report concludes with a panoramic view of the global Internet of Things (IoT) in Construction industry, which comprises the salient global and regional market aspects, supported by key statistical data and industry-verified facts. It thoroughly examines the market size, share, and volume existing throughout the historical years (2018-2019) in order to forecast the same for the projected years (2021-2028). Furthermore, the report studies a wide array of growth prospects and threats and challenges that are poised to influence the performance of the key market players in the near future.

Market Segmentation by Key Player:

Caterpillar Inc., Autodesk, Oracle Corporation, Trimble, KORE Wireless Group, WorldSensing, Giatec Scientific Inc., Losant IoT, Sigfox, and CalAmp.

Some Key Highlights From the Report

• In June 2020, Caterpillar Inc. announced the acquisition of selected assets and hired employees from Marble Robot, Inc., which is a San Francisco, California-based company dealing in robot and autonomy technology solutions. The acquisition is part of the automation and automation strategy of the company. With the help of the acquisition, the company can leverage the deep expertise of the new team and bring scalable solutions to meet the changing needs across the construction industry.
• Software segment accounted for largest revenue share in 2020. Rising investments by major players for development of software that helps in monitoring construction site, enables remote equipment control and people management, and to track exact location of personnel among workforce is expected to drive revenue growth of this segment.
• Remote operations segment revenue is expected to expand at a rapid CAGR during the forecast period. Rising adoption of IoT-empowered remote equipment control to facilitate better efficiency and monitoring of construction progress in areas not accessible by human workforce or personnel is expected to further boost revenue growth of the remote operations segment.

Internet of Things (IoT) in Construction Market Segmentation:

Emergen Research has segmented the global Internet of Things (IoT) in construction market on the basis of components, application, end-use, and region:

• 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

Key geographical regions analyzed in the report:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key points covered in the report:

• The report provides the reader with a detailed study of the global Internet of Things (IoT) in Construction market, including essential data beneficial for business.
• The prominent factors driving and restraining market growth, latest product trends, and technological advancements have been extensively discussed by the authors of the report.
• A broad market categorization, based on product type, application gamut, and end-user landscape, has been included in the report.
• It further entails the latest product development, incorporation of new techniques, and profiles of major competitors in the market.

Table Of Content:

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope  
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. IoT in Construction Market Segmentation & Impact Analysis
    4.1. IoT in Construction Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Rapid urbanization and growth in construction industry in developing countries 
                    4.2.2.2. Rising need for IoT-based automation for enhanced productivity
                    4.2.2.3. Increasing labor shortage
                    4.2.2.4. Rising need to enhance safety and security issues
                    4.2.2.5. Growing trend of digital construction
                    4.2.2.6. Emergence of AI and ML in construction sector 
          4.2.3. Market restraints analysis 
                    4.2.3.1. Data security and privacy issues
                    4.2.3.2. High initial investment
                    4.2.3.3. Disruptions in the construction industry due to the pandemic
    4.3. Technological Insights 
    4.4. Regulatory Framework
    4.5. Porter’s Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

READ MORE…!

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