IOT in the Global Construction Market is anticipated to grow at a CAGR of 16%-17% during 2020-2025
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The global IOT in the global construction market is projected to grow at a CAGR of 16%-17% during 2020-2025. The growth of IOT in the global construction market is driven by increasing awareness of space utilization, improving industry standards and regulations, growing need to avoid project delays, easy construction toll & equipment tracking, remote monitoring, and improved maintenance planning.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the IOT in the global construction by application (remote operations, safety management, fleet management, predictive maintenance, and others), project type (commercial and residential), offering (hardware, software, and services), and region (North America, Europe, Asia Pacific, and Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the IOT in the global construction market?
Q.4 What are some changing demands of customers in the IOT in the global construction market?
Q.5 What are the new developments in the IOT in the global construction market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this IOT in the global construction area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this IOT in the global construction market?
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Market Segmentation:
Based on offering, the IOT in the global construction market is segmented into hardware, software, and services. The software segment accounted for the largest share of the market in 2020 due to continuous focus of companies to develop software, increasing usage of analytics for better decision making, and increasing use of building information models.
North America is expected to be the largest region over the forecast period due to multiple construction OEMs embracing the use of IoT in construction, growing investment in infrastructure and construction projects, and presence of a significant number of market players in this region.
Key Players in the IOT in the global construction market are Caterpillar, Sigfox, Oracle Corporation, CalAmp, Losant IOT, Giatec Scientific, WorldSensing, Kore Wireless, Trimble, and Autodesk.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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