Construction 4.0 Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Construction 4.0 Market Trends and Forecast

The future of the construction 4.0 market looks promising with opportunities in the residential and non-residential markets. The global construction 4.0 market is expected to reach an estimated $32.0 billion by 2028 with a CAGR of 17.2% from 2023 to 2028. The major drivers for this market are rise of digitization in the building industries and increasing usage of these innovative technologies to enhance efficiency of construction projects and prevent human error and repetitive labour.

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Construction 4.0 Market by Segment

The study includes a forecast for the global construction 4.0 market by solution, technology, application, end use industry, and region, as follows:

Construction 4.0 Market by Solution [Value ($B) Shipment Analysis from 2017 to 2028]:

• Hardware
• Software
• Services

Construction 4.0 Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

• IoT
• Artificial Intelligence
• Industrial Robots
• Others

Construction 4.0 Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Predictive Maintenance
• Fleet Management
• Asset Monitoring
• Wearables
• Others

Construction 4.0 Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

• Residential
• Non-Residential

Construction 4.0 Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Construction 4.0 Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies construction 4.0 companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the construction 4.0 companies profiled in this report include:

• Hexagon AB
• Trimble
• Autodesk
• Hilti
• CalAmp
• Mitsubishi Electric

Construction 4.0 Market Insights

• Lucintel forecasts that IoT (Internet of Things) is expected to witness highest growth over the forecast period due to the increasing IoT integration to combine physical gadgets with digital services, sensors, and RFID tags to collect data for improvised decision-making and growing use of IoT based industrial robots in the constructional projects.
• Residential is expected to witness highest growth over the forecast period due to the expanding usage of 3D printing and virtual reality in the construction of residential complexes, condos, and independent houses.
• Europe is expected to witness highest growth over the forecast period due to the supportive European Union funding for research and development activities to enable the advancement of 4.0 technologies and rapid adoption of modern technologies by the major construction companies to enhance output, sustainability, and safety of the region.

Features of the Construction 4.0 Market

• Market Size Estimates: Construction 4.0 market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Construction 4.0 market size by various segments, such as by solution, technology, application, end use industry, and region
• Regional Analysis: Construction 4.0 market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by solution, technology, application, end use industry, and regions for the construction 4.0 market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the construction 4.0 market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the construction 4.0 market size?
• Answer: The global construction 4.0 market is expected to reach an estimated $32.0 billion by 2028.
• Q2. What is the growth forecast for construction 4.0 market?
• Answer: The global construction 4.0 market is expected to grow with a CAGR of 17.2% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the construction 4.0 market?
• Answer: The major drivers for this market are rise of digitization in the building industries and increasing usage of these innovative technologies to enhance efficiency of construction projects and prevent human error and repetitive labour.
• Q4. What are the major segments for construction 4.0 market?
• Answer: The future of the construction 4.0 market looks promising with opportunities in the residential and non-residential markets.
• Q5. Who are the key construction 4.0 companies?
• Answer: Some of the key construction 4.0 companies are as follows:
  • Hexagon AB
  • Trimble
  • Autodesk
  • Hilti
  • CalAmp
  • Mitsubishi Electric
• Q6. Which construction 4.0 segment will be the largest in future?
• Answer:Lucintel forecasts that IoT (Internet of Things) is expected to witness highest growth over the forecast period due to the increasing IoT integration to combine physical gadgets with digital services, sensors, and RFID tags to collect data for improvised decision-making and growing use of IoT based industrial robots in the constructional projects.
• Q7. In construction 4.0 market, which region is expected to be the largest in next 5 years?
• Answer: Europe is expected to witness highest growth over the forecast period due to the supportive European Union funding for research and development activities to enable the advancement of 4.0 technologies and rapid adoption of modern technologies by the major construction companies to enhance output, sustainability, and safety of the region.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the construction 4.0 market by solution (hardware, software, and services), technology (IoT, artificial intelligence, industrial robots, and others), application (predictive maintenance, fleet management, asset monitoring, wearables, and others), end use industry (residential and non-residential), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?