DUBLIN–(BUSINESS WIRE)–The “IoT in Construction Market by Offering (Hardware, Software, Services), Project Type (Commercial, Residential), Application (Remote Operations, Safety Management, Fleet Management, Predictive Maintenance, Others), and Region – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The market size of Internet of Things (IoT) in construction is estimated at USD 7.8 billion in 2019 and is projected to reach USD 16.8 billion by 2024, at a CAGR of 16.5% between 2019 and 2024.
IoT in construction is widely used in remote operations, fleet management, safety management, and predictive maintenance applications. There is significant demand for IoT in construction in the emerging economies, which is one of the major opportunities for the market. However, high initial cost of implementing IoT is one of the restraining factors in the market.
Services segment is projected to register the highest during the forecast period.
The market is segmented on the basis of offering as software, hardware, and services. The services segment is expected to register the highest CAGR during the forecast period. This high growth is attributed to the growing need for maintenance, repair, and support services for the deployed equipment and software. Moreover, increasing dependency on cloud services is one of the major reasons behind the growth of the services segment.
Remote operations application is the largest segment in the overall IoT in construction market.
The remote operations segment accounts for the largest share of the IoT in construction market. Growing usage of IoT for machine control, real-time monitoring of workers, construction sites, and machinery is responsible for the high market share of remote operations application.
IoT in construction market in APAC is projected to register the highest CAGR between 2019 and 2024.
The IoT in construction market in APAC is projected to register the highest CAGR during the forecast period. This growth can be attributed to the increasing demand for IoT in construction from China, Japan, and other Asian countries. There is rising digitization and a growing construction industry in China, which is a major contributor to the market in APAC.
Benefits of Buying the Report:
- This report segments the IoT in construction market and provides the closest approximation of revenues for the overall market and its subsegments across different verticals and regions.
- The report helps stakeholders understand the pulse of the market and provides information on key drivers, restraints, challenges, and opportunities of the IoT in construction market.
- This report is also expected to help stakeholders understand their competitors and gain insights to augment their position in the IoT in construction market. The competitive landscape section includes the ecosystem of competitors and detailed information on new product developments, expansions, partnerships, and acquisitions.
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered for the Study
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Size Estimation
2.2.1 Supply-Side Analysis
2.2.2 Demand-Side Analysis
2.3 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in the IoT in Construction Market
4.2 IoT in Construction Market, By Project Type
4.3 IoT in Construction Market, By Application and Country
5 Market Overview
5.2 Market Dynamics
6 IoT in Construction Market, By Project Type
7 IoT in Construction Market, By Offering
8 IoT in Construction Market, By Application
8.2 Safety Management
8.3 Remote Operations
8.4 Predictive Maintenance
8.5 Fleet Management
9 Regional Analysis
9.2 North America
9.5 Latin America
10 Competitive Landscape
10.2 Competitive Leadership Mapping
10.2.1 Visionary Leaders
10.2.2 Dynamic Differentiators
10.2.4 Emerging Companies
10.3 Strength of Product Portfolio
10.4 Business Strategy Excellence
10.5 Market Ranking
10.6 Competitive Scenario
10.6.1 New Product Developments/Launches
11 Company Profiles
11.1 Caterpillar Inc.
11.2 Autodesk Inc.
11.3 Oracle Corporation
11.4 Trimble Inc.
11.5 Kore Wireless
11.7 Giatec Scientific Inc.
11.8 Losant IoT
11.10 Calamp Corp.
11.11 Other Players
11.11.2 Hitachi, LTD
11.11.3 Longview Iot
11.11.5 Wakecap Technologies
11.11.6 Pillar Technologies, Inc.
11.11.7 IoT Factory
11.11.10 Procore Technologies, Inc.
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