The global Internet of Things (IoT) in construction market size is expected to reach USD 26.79 Billion in 2028

SURREY, BRITISH COLUMBIA, CANADA, November 8, 2021 /EINPresswire.com/ -- 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.

Internet of Things (IoT) in Construction Market Size – USD 8.52 Billion in 2020, Market Growth – at a CAGR of 15.5%, Market Trends – Increasing utilization of wireless concrete maturity sensors. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. 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 Software segment accounted for largest revenue share in 2020.

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.

Key players in the market include Caterpillar Inc., Autodesk, Oracle Corporation, Trimble, KORE Wireless Group, WorldSensing, Giatec Scientific Inc., Losant IoT, Sigfox, and CalAmp.

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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 report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period. The study also includes significant information pertinent to the Internet of Things (IoT) in Construction industry, particularly the current COVID-19 scenario.

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

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Market Taxonomy:
Chapter 1: Methodology & Scope
• Definition and forecast parameters
• Methodology and forecast parameters
• Data Sources
Chapter 2:
Executive Summary
• Business trends
• Regional trends
• Product trends
• End-use trends
Chapter 3:
Industry Insights
• Industry segmentation
• Industry landscape
• Vendor matrix
• Technological and innovation landscape
Chapter 4:
Regional Landscape
Chapter 5:
Company Profile
• Business Overview
• Financial Data
• Product Landscape
• Strategic Outlook

Key Objectives of the Report:
Analysis and estimation of the Internet of Things (IoT) in Construction market size and share for the projected period of 2020-2027

Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Internet of Things (IoT) in Construction market

Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

To know more about the report:https://www.emergenresearch.com/industry-report/internet-of-things-in-construction-market

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