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IoT in Construction Market Report by Components (Hardware, Software, Services), Application (Asset Monitoring, Predictive Maintenance, Fleet Management, Wearables, and Others), End User (Residential, Non-Residential), and Region 2024-2032
Market Report I 2024-04-08 I 135 Pages I IMARC Group
The global IoT in construction market size reached US$ 11.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach a value of US$ 29.0 Billion by 2032, exhibiting a growth rate (CAGR) of 11.04% during 2024-2032. The burgeoning construction industry, rising demand for smart wearables on sites, and increasing application in controlling movement, status, and progress of machinery represent some of the key factors driving the market.
The internet of things (IoT) refers to the collective network of connected devices and technologies that facilitate communication between devices and the cloud. It relies on machine learning (ML) and artificial intelligence (AI) technologies to analyze various data and make informed decisions. It also uses predictive maintenance to reduce unplanned downtime and wearable technology to improve worker safety. It gives access to advanced analytics that uncover new opportunities by collecting data on customer behavior. It assists in monitoring digital and physical infrastructure to optimize performance, improve efficiency, and reduce risks. It aids in managing various operations efficiently, such as inventory management, fuel and spare parts management, and tracking shipping. It offers numerous benefits, such as high efficiency and productivity, improved customer experience, and increased mobility and agility. At present, there is a rise in the demand for IoT in the construction industry to automate hazard detection and safety monitoring of construction sites across the globe.
IoT in Construction Market Trends:
At present, there is a rise in the demand for IoT in the construction to help supervisors perform their tasks efficiently and gain insight about all the aspects of the project. This, along with the thriving construction industry, represents one of the key factors supporting the growth of the market. In addition, the increasing demand for IoT in the construction to control movement, status, and progress of machinery and report in real-time with unprecedented precision is propelling the growth of the market. Besides this, governing agencies of various countries are implementing stringent regulations to promote the usage of IoT for minimizing the risks of accidents at construction sites. Moreover, there is an increase in the utilization of smart technologies, such as radio frequency identification (RFID) tags, building information modelling, and augmented reality (AR), to reduce operational costs, enhance productivity, and efficient project management. This, coupled with the rising awareness among the masses about the benefits of IoT in the construction industry, is offering lucrative growth opportunities to industry investors. Apart from this, the growing employment of IoT in numerous construction activities, such as plastering, bricklaying, surveying, construction site management, asset tracking, worker tracking, and risk management, is positively influencing the market. Additionally, the escalating demand for smart wearables, such as smart glasses, wearable sensors, safety vests, and smart helmets, on sites is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global IoT in construction market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on components, application, and end user.
Components Insights:
Hardware
Software
Services
The report has provided a detailed breakup and analysis of the IoT in construction market based on the components. This includes hardware, software, and services. According to the report, software represented the largest segment.
Application Insights:
Asset Monitoring
Predictive Maintenance
Fleet Management
Wearables
Others
A detailed breakup and analysis of the IoT in construction market based on the application has also been provided in the report. This includes asset monitoring, predictive maintenance, fleet management, wearables, and others. According to the report, asset monitoring accounted for the largest market share.
End User Insights:
Residential
Non-Residential
A detailed breakup and analysis of the IoT in construction market based on the end user has also been provided in the report. This includes residential and non-residential. According to the report, non-residential accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global IoT in construction market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Autodesk Inc., CalAmp, Ferrovial S.A., Giatec Scientific Inc., Hilti Corporation, International Business Machines Corporation, Oracle Corporation, Procore Technologies Inc., Sigfox, Topcon Corporation, Trimble Inc., WakeCap Technologies, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
1. What was the size of the global IoT in construction market in 2023?
2. What is the expected growth rate of the global IoT in construction market during 2024-2032?
3. What are the key factors driving the global IoT in construction market?
4. What has been the impact of COVID-19 on the global IoT in construction market?
5. What is the breakup of the global IoT in construction market based on the components?
6. What is the breakup of the global IoT in construction market based on the application?
7. What is the breakup of the global IoT in construction market based on the end user?
8. What are the key regions in the global IoT in construction market?
9. Who are the key players/companies in the global IoT in construction market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global IoT in Construction Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Components
6.1 Hardware
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Software
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Services
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Application
7.1 Asset Monitoring
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Predictive Maintenance
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Fleet Management
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Wearables
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by End User
8.1 Residential
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Non-Residential
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Autodesk Inc.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 CalAmp
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Ferrovial S.A.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Giatec Scientific Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Hilti Corporation
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 SWOT Analysis
14.3.6 International Business Machines Corporation
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Oracle Corporation
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Procore Technologies Inc.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.9 Sigfox
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Topcon Corporation
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Trimble Inc.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 WakeCap Technologies
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
Figure 1: Global: IoT in Construction Market: Major Drivers and Challenges
Figure 2: Global: IoT in Construction Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: IoT in Construction Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: IoT in Construction Market: Breakup by Components (in %), 2023
Figure 5: Global: IoT in Construction Market: Breakup by Application (in %), 2023
Figure 6: Global: IoT in Construction Market: Breakup by End User (in %), 2023
Figure 7: Global: IoT in Construction Market: Breakup by Region (in %), 2023
Figure 8: Global: IoT in Construction (Hardware) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: IoT in Construction (Hardware) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: IoT in Construction (Software) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: IoT in Construction (Software) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: IoT in Construction (Services) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: IoT in Construction (Services) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: IoT in Construction (Asset Monitoring) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: IoT in Construction (Asset Monitoring) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: IoT in Construction (Predictive Maintenance) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: IoT in Construction (Predictive Maintenance) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: IoT in Construction (Fleet Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: IoT in Construction (Fleet Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: IoT in Construction (Wearables) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: IoT in Construction (Wearables) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: IoT in Construction (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: IoT in Construction (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: IoT in Construction (Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: IoT in Construction (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: IoT in Construction (Non-Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: IoT in Construction (Non-Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: North America: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: North America: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: United States: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: United States: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Canada: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Canada: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Asia-Pacific: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Asia-Pacific: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: China: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: China: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Japan: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Japan: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: India: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: India: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: South Korea: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: South Korea: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Australia: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Australia: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Indonesia: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Indonesia: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Others: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Others: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Europe: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Europe: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Germany: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Germany: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: France: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: France: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: United Kingdom: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: United Kingdom: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Italy: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Italy: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Spain: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Spain: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Russia: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Russia: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Others: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Others: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Latin America: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Latin America: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Brazil: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Brazil: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Mexico: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Mexico: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Others: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Others: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Middle East and Africa: IoT in Construction Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Middle East and Africa: IoT in Construction Market: Breakup by Country (in %), 2023
Figure 76: Middle East and Africa: IoT in Construction Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Global: IoT in Construction Industry: SWOT Analysis
Figure 78: Global: IoT in Construction Industry: Value Chain Analysis
Figure 79: Global: IoT in Construction Industry: Porter's Five Forces Analysis
Table 1: Global: IoT in Construction Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: IoT in Construction Market Forecast: Breakup by Components (in Million US$), 2024-2032
Table 3: Global: IoT in Construction Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 4: Global: IoT in Construction Market Forecast: Breakup by End User (in Million US$), 2024-2032
Table 5: Global: IoT in Construction Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: IoT in Construction Market: Competitive Structure
Table 7: Global: IoT in Construction Market: Key Players
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