IoT in Construction  Market Projected to Witness a Double-Digit CAGR During 2022-2027

Stratview Research on the IoT in Construction  Market provides a thorough analysis of the market that can help users understand the competitive dynamics and different factors driving or restraining industry growth.

The IoT in Construction  Market throws light on the major insights that offer the users a comprehensive addition of several factors such as global distribution, supply-chain, market size, manufacturers, and market factors that affect the global contributions.

IoT in construction market is likely to witness an impressive CAGR of 16.7% during the forecast period. The demand for IoT in constructions is driven mainly by the increasing demand from power electronics end-use industry.

Key players in the  IoT in Construction  Market

  • Caterpillar Inc.
  • Autodesk Inc.
  • Oracle Corporation
  • Trimble Inc.
  • Kore Wireless
  • Worldsensing
  • Giatec Scientific Inc.
  • Losant IoT
  • Sigfox
  • Calamp Corp

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  By Project Type

Based on the project type, the market is segmented as commercial and residential. The residential segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. The higher share is attributed to the rising residential development in developing economies and increasing renovation activities in developed nations.

By Offering Type

Based on the offering type, the market is segmented as hardware, software, and services. The software segment accounted for the largest share in 2019, owing to the growing adoption of Building Information Modelling (BIM). The segment is expected to maintain its dominance during the forecast period as well.

By Application Type

Based on the application type, the market is segmented as safety management, remote operations, predictive maintenance, fleet management, and others. The remote operations segment accounted for the largest share in 2019, on account of the rising utility in residential as well as commercial constructions and it is likely to lead the market during the forecast period as well.

IoT in Construction Market Share: By Region

In terms of regions, North America is projected to be the largest market for IoT in constructions during the forecast period. The North American market is expected to expand with a lucrative CAGR due to presence of dominant market players, and growing investment in infrastructure and construction projects in the region. 

The IoT in Construction  Market report further exhibits an outline of in-depth analysis gathered from reliable sources. The report also focuses on market revenue streams, Covid effect analysis on the market with an approach on upcoming market trends, and the complete progress of the market.

Research Methodology

The study incorporates a wide range of analytical resources along with primary and secondary research methodologies.

Frequently Asked Questions (FAQs)

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