loT In Construction Global Market Report 2024

Description

“loT In Construction Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on lot in construction market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for lot in construction? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The lot in construction market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Hardware; Software; Connectivity; Services
2) By Application: Machine Control; Site Monitoring; Fleet Management; Wearables; Other Applications
3) By End User: Residential; Non-Residential
Companies Mentioned: Trimble Inc.; Pillar Technologies Inc.; Triax Technologies; Brickeye LLC; Hilti Aktiengesellschaft
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

IoT in construction refers to the utilization of internet-connected tools and equipment aimed at enhancing effectiveness and efficiency in construction projects. The Internet of Things (IoT) is employed to monitor materials, personnel, and machinery, optimizing man-hours and ensuring the timely progress of building projects. In construction, IoT is utilized to track the location, functionality, safety, and overall condition of personnel, tools, and equipment.

The primary categories of IoT in construction encompass hardware, software, connectivity, and services. IoT hardware includes various components such as bridges, sensors, routers, and others, performing crucial functions such as system activation, identification of project-specific objectives, and ensuring device security and communication. Diverse applications, including machine control, site monitoring, fleet management, wearables, and others, find usage among residential and non-residential end users.

The IoT in construction market research report is one of a series of new reports from The Business Research Company that provides IoT in construction market statistics, including IoT in construction industry global market size, regional shares, competitors with IoT in construction market share, detailed IoT in construction market segments, market trends, and opportunities, and any further data you may need to thrive in the IoT in construction industry. This IoT in construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The lot in construction market size has grown rapidly in recent years. It will grow from $11.9 billion in 2023 to $13.88 billion in 2024 at a compound annual growth rate (CAGR) of 16.7%. The expansion observed in the historical period can be credited to the adoption of building information modeling (BIM), the implementation of enhanced safety measures, gains in efficiency and productivity, the emergence of smart buildings and infrastructure, and cost reduction through automation.

The lot in construction market size is expected to see rapid growth in the next few years. It will grow to $24.5 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The anticipated growth in the forecast period can be attributed to advancements in 5G connectivity, a heightened focus on sustainability, an increase in remote construction monitoring, the utilization of collaboration platforms and interoperability, and a growing demand for contactless construction operations. Key trends in the forecast period encompass the emergence of digital twins, IoT-enabled safety solutions, asset tracking and management, predictive maintenance for equipment, and the use of data analytics for decision-making.

The anticipated surge in demand for construction and infrastructure activities is set to drive the growth of the IoT in the construction market. Construction, the process of assembling various elements to create structures at specific locations, benefits from IoT in implementing sustainable plans using recycled materials and promoting zero waste practices. This technology also aids in educating the workforce about sustainable construction concepts. The rising demand for construction activities, as evidenced by a 3.7 percent increase in building activities reported by Stats NZ Tauranga Aotearoa in March 2021, and a 4.3 percent rise in residential activities in 2021, is propelling the demand for IoT in construction. The U.S. Census Bureau further highlights a 10.2 percent growth in the value of construction activities from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. Thus, the escalating demand for construction and infrastructure activities drives the growth of the IoT in the construction market.

The growing trend of industrial automation is expected to contribute significantly to the expansion of the IoT in the construction market. Industrial automation, involving the use of advanced technologies and control systems to automate industrial processes, is integrated with IoT in construction to enhance productivity, safety, resource management, and decision-making. The combination of these technologies fosters more efficient and sustainable construction practices. The International Federation of Robotics reports a 6% increase in the number of industrial robots operating in UK factories in 2021, reaching 23,000, with a simultaneous 8% rise in sales of new robots to 2,205 units in 2020. This underscores the pivotal role of industrial automation in driving the growth of the IoT in the construction market.

Technological advancements emerge as a key trend in the IoT in the construction market, with major companies developing new technologies to meet market demands. For instance, EarthCam introduced the IoT StreamCam 4K in 2023, a platform enabling one 4G LTE data connection to be shared among up to eight low-power wireless devices. This innovation facilitates efficient recording of interior development and job site conditions, supporting features such as a precise photo time clock, visitor tracking, delivery monitoring, and QR code reading.

Major companies are launching new products such as the Connect Box to bolster revenues in the IoT in the construction market. Siemens, a prominent automation company, launched the Connect Box in March 2023-a universal and open IoT solution that combines the functionalities of a gateway, controller, and modem in a single device. This smart IoT solution is designed to manage smaller buildings, connecting to a wide range of equipment, including sensors, meters, heating, cooling, and air handling equipment, along with building automation and control systems (BACS).

In 2021, Siemens acquired Wattsense, a France-based hardware and software company, for an undisclosed amount. This strategic acquisition aims to accelerate the adoption of IoT systems in a broader range of structures, enabling more individuals and organizations to benefit from the systems' advantages in sustainability, comfort, and affordability. Wattsense provides small and medium-sized buildings with a plug-and-play IoT management system.

Major companies operating in the lot in construction market report are Trimble Inc., Pillar Technologies Inc., Triax Technologies, Brickeye LLC, Hilti Aktiengesellschaft, Topcon Corporation, Autodesk Inc., Oracle Corporation, Hexagon Metrology AB, Sigfox S.A., Caterpillar Inc., Losant IoT Inc., Giatec Scientific Inc., WorldSensing S.L., Kore Wireless Group.Inc., Robert Bosch GmbH, Versatile Natures LLC, SiteAware Inc., SmartVid Inc., Reconstruct Inc., Rhumbix Inc., Bridgit Solutions Inc., PlanGrid Inc., Procore Technologies Inc., Fieldwire Inc., BuildingConnected Inc., Bluebeam Inc., Raken Inc., Honeywell International Inc.

North America was the largest region in the IoT in construction market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global IoT in construction market report during the forecast period. The regions covered in the lot in construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the lot in construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The IoT in the construction market consists of revenues earned by entities by providing safety, maintenance, resources management and budgeting, concrete curing, structural health monitoring, and waste management services. The market value includes the value of related goods sold by the service provider or included within the service offering. The IoT in the construction market also includes sales of sensors, processors, and gateways which are used for providing services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11871

1. Executive Summary

2. loT In Construction Market Characteristics

3. loT In Construction Market Trends And Strategies

4. loT In Construction Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global loT In Construction Market Size and Growth

5.1. Global loT In Construction Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global loT In Construction Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global loT In Construction Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. loT In Construction Market Segmentation

6.1. Global loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hardware
Software
Connectivity
Services
6.2. Global loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Machine Control
Site Monitoring
Fleet Management
Wearables
Other Applications
6.3. Global loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Residential
Non-Residential

7. loT In Construction Market Regional And Country Analysis

7.1. Global loT In Construction Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global loT In Construction Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific loT In Construction Market

8.1. Asia-Pacific loT In Construction Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China loT In Construction Market

9.1. China loT In Construction Market Overview
9.2. China loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India loT In Construction Market

10.1. India loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan loT In Construction Market

11.1. Japan loT In Construction Market Overview
11.2. Japan loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia loT In Construction Market

12.1. Australia loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia loT In Construction Market

13.1. Indonesia loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea loT In Construction Market

14.1. South Korea loT In Construction Market Overview
14.2. South Korea loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe loT In Construction Market

15.1. Western Europe loT In Construction Market Overview
15.2. Western Europe loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK loT In Construction Market

16.1. UK loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany loT In Construction Market

17.1. Germany loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France loT In Construction Market

18.1. France loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy loT In Construction Market

19.1. Italy loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain loT In Construction Market

20.1. Spain loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe loT In Construction Market

21.1. Eastern Europe loT In Construction Market Overview
21.2. Eastern Europe loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia loT In Construction Market

22.1. Russia loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America loT In Construction Market

23.1. North America loT In Construction Market Overview
23.2. North America loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA loT In Construction Market

24.1. USA loT In Construction Market Overview
24.2. USA loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada loT In Construction Market

25.1. Canada loT In Construction Market Overview
25.2. Canada loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America loT In Construction Market

26.1. South America loT In Construction Market Overview
26.2. South America loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil loT In Construction Market

27.1. Brazil loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East loT In Construction Market

28.1. Middle East loT In Construction Market Overview
28.2. Middle East loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa loT In Construction Market

29.1. Africa loT In Construction Market Overview
29.2. Africa loT In Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa loT In Construction Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa loT In Construction Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. loT In Construction Market Competitive Landscape And Company Profiles

30.1. loT In Construction Market Competitive Landscape
30.2. loT In Construction Market Company Profiles
- 30.2.1. Trimble Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Pillar Technologies Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Triax Technologies
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Brickeye LLC
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Hilti Aktiengesellschaft
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global loT In Construction Market Competitive Benchmarking

32. Global loT In Construction Market Competitive Dashboard

33. Key Mergers And Acquisitions In The loT In Construction Market

34. loT In Construction Market Future Outlook and Potential Analysis

34.1 loT In Construction Market In 2028 - Countries Offering Most New Opportunities
34.2 loT In Construction Market In 2028 - Segments Offering Most New Opportunities
34.3 loT In Construction Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer