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Global IoT in Construction Market By Offering (Service, Software, Hardware), By Application (Remote Operations, Predictive Maintenance, Others), By End-Users (Residential, Commercial), By Region, Forecast & Opportunities to 2026

The global IoT in construction market accounted for a value of USD 8.9 billion in 2019 and is projected to register growth at a CAGR of 13.5% during forecast period.

COVID-19 has impacted IoT construction market significantly. The adoption of IoT technology is declining due to global pandemic across construction market and investment in IoT technology is also decreasing. The supply chain of various equipments has been affected due to travel restriction. The construction activities have to halt due to lockdown. The growth of IoT in construction market is negatively affected due to spread of corona virus.

Definition:

The IoT in construction industry provides real-time monitoring of site, equipment, remote accessibility and data storage. IoT in construction has potential to reduce all kinds of accidents by using digital solutions like wearables, sensors on worker’s clothing. This helps in monitoring hazardous materials on the construction site.

Market Dynamics (Drivers/Opportunities):

The IoT in construction market is growing due to growing need to complete projects without delays and with better safety and productivity. The internet of things is widely adopted in various industries, offices and household to make human activities easier. This increases adoption of IoT in construction industry and drives growth in IoT in construction market during forecast period.

The internet connected devices used in construction offers various advantages by enhancing productivities, efficient project management and reducing operational costs. Smart technologies such as RFID tag, sensors, augmented reality and others. It helps in recognizing potential risks on a construction site which optimizes requirement of resources, reduce wastage of time & money and avoid accidents and fatalities. This increases the demand and adoption of IoT in construction market and drives growth in this market during forecast period.

Market Insights, by Offering

On the basis of offering, the IoT in construction market is segmented into service, software and hardware. The software segment is estimated to dominate the market during forecast period. The focus to develop software that reflects various parameters in the dashboard is increasing and the use of analytics for better decision making is increasing. This drives growth in software segment during forecast period.

Market Insights, by Application

On the basis of application, the IoT in construction market is segmented into remote operations, predictive maintenance, safety management, fleet management and others. The remote operations segment is estimated to hold largest market share during forecast period. The remote operations application is increasing and the use of IoT for real-time monitoring and machine control increases the demand for remote operation segment. This drives growth in remote operations application during forecast period.

Regional Insights

North America region is estimated to hold largest market share during forecast period. The adoption of IoT technologies in construction is rapidly increasing in this region. The multiple construction OEMs are utilizing the IoT in the construction sector rapidly in this region. The projects including use of IoT in construction are increasing in this region widely. The investment in this sector is widely increasing and this drives growth in North America region during forecast period.

Key Companies & Market Share Insights

The key market players in IoT in construction industry are Caterpillar Inc., Autodesk Inc., Oracle Corporation, Trimble Inc., Kore Wireless, Worldsensing, Giatec Scientific Inc., Losant IoT, Sigfox, Calamp Corp., Tenna, Hitachi Ltd., Longview IoT, Dronedeploy, IoT Factory, Iotim, Smartbarrel and Pillar Technologes.

Segments Covered in the Report

This report forecasts The Global IoT in Construction Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global IoT in construction market report on the basis of offering, application and end-users.

IoT in Construction Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. IoT in Construction Market, By Offering, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Service
  • Software
  • Hardware
  1. IoT in Construction Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Remote Operations
  • Predictive Maintenance
  • Safety Management
  • Fleet Management
  • Others
  1. IoT in Construction Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Residential
  • Commercial
  1. IoT in Construction Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Offering
    • By Application
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Offering
      • By Application
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Offering
        • By Application
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Offering
          • By Application
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Offering
            • By Application
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Oracle Corporation
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Caterpillar Inc.
    • Autodesk Inc.
    • Trimble Inc.
    • Kore Wireless
    • Worldsensing
    • Giatec Scientific Inc.
    • Losant IoT
    • Sigfox
    • Calamp Corp.
    • Tenna
    • Hitachi Ltd.
    • Longview IoT
    • Dronedeploy
    • IoT Factory
    • Iotim
    • Smartbarrel
    • Pillar Technologes
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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