IoT In Construction Market | Covid-19 Impact Analysis

IoT in Construction Market Insights

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.

Market Share Analysis

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IoT in Construction Market Share: 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.

IoT in Construction Market Share: 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.

IoT in Construction Market Share: 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.

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Some of the major players in the IoT in construction market are-

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

Market Scope & Segmentation

IoT is an abbreviation for Internet of Things. IoT in construction entails machine components bearing sensors to screen operating conditions, performance levels and physical states. In the construction industry, it is also called telematics.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market

The IoT in Construction market is segmented into the following categories. 

IoT in Construction Market Size, Share, & Forecast, by Project Type:

• Commercial  (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Residential (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

IoT in Construction Market Size, Share, & Forecast, by Offering Type:

• Hardware (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Software (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Services (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

IoT in Construction Market Size, Share, & Forecast, by Application Type:

• Safety Management (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Remote Operations (FACTs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• High-Voltage, Direct Current Systems (HVCDs) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fleet Management (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

IoT in Construction Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the project types by offering type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Project portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].