Internet of Things (IoT) in Construction - Global Strategic Business Report

The global market for Internet of Things (IoT) in Construction was estimated at US$21.5 Billion in 2023 and is projected to reach US$61.7 Billion by 2030, growing at a CAGR of 16.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Internet of Things (IoT) in Construction Market - Key Trends and Drivers Summarized

How Is the Internet of Things (IoT) Transforming Construction?

The Internet of Things (IoT) is rapidly transforming the construction industry by improving project management, enhancing worker safety, and increasing operational efficiency. IoT devices, such as sensors, wearables, and connected machinery, allow for real-time tracking of materials, equipment, and personnel, giving construction managers greater control over job site operations. These connected devices provide data on equipment utilization, worker productivity, and environmental conditions, enabling better decision-making and more efficient project execution. IoT solutions also play a critical role in enhancing safety by providing real-time alerts on potential hazards, monitoring worker health, and enabling automated compliance checks with safety regulations. As construction projects become more complex, IoT is helping companies streamline operations and reduce costly delays.

How Are Technological Advancements Shaping the IoT in Construction Market?

Technological advancements in IoT sensors, drones, and AI-powered analytics are expanding the use cases for IoT in construction. Advanced sensors embedded in machinery and materials monitor usage, detect wear and tear, and optimize maintenance schedules, reducing downtime and extending equipment life. Drones equipped with high-resolution cameras and IoT sensors are used for site surveys, progress monitoring, and safety inspections, providing detailed data and reducing the need for manual checks. AI-driven analytics platforms can process the vast amounts of data generated by IoT devices to predict project risks, optimize workflows, and reduce operational inefficiencies. These technological advancements are making construction sites more connected, safe, and efficient.

How Do Market Segments Define the Growth of IoT in Construction?

Components include hardware such as sensors and wearable devices, software platforms for data management, and services such as integration and consulting. Applications include fleet management, worker safety, predictive maintenance, and asset tracking, with asset tracking being the largest segment as construction firms look to reduce equipment theft and misplacement. End-users include commercial construction, residential construction, and infrastructure development, with infrastructure projects adopting IoT at a higher rate due to their scale and complexity. The market is expanding rapidly in regions such as North America and Europe, where smart city initiatives and infrastructure investments are driving demand for connected construction solutions.

What Factors Are Driving the Growth in the IoT in Construction Market?

The growth in the IoT in construction market is driven by several factors, including the increasing demand for operational efficiency, advancements in connected devices, and the rising focus on worker safety. As construction projects grow in scale and complexity, companies are adopting IoT solutions to manage resources more effectively, reduce waste, and improve productivity. Technological innovations such as AI-driven analytics and drone-based monitoring are also driving adoption by enabling real-time data collection and analysis, improving project outcomes. Additionally, the growing emphasis on safety and compliance in the construction industry is pushing companies to invest in IoT devices that monitor environmental conditions, worker health, and equipment performance in real time.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Software Component segment, which is expected to reach US$31.3 Billion by 2030 with a CAGR of a 17.0%. The Hardware Component segment is also set to grow at 16.0% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, which was estimated at $5.9 Billion in 2023, and China, forecasted to grow at an impressive 15.4% CAGR to reach $9.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Internet of Things (IoT) in Construction Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Internet of Things (IoT) in Construction Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Internet of Things (IoT) in Construction Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players in the Internet of Things (IoT) in Construction market such as Autodesk Inc., Calamp Corp., Caterpillar Inc., Dronedeploy, Giatec Scientific Inc. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 37 companies featured in this Internet of Things (IoT) in Construction market report include:

• Autodesk Inc.
• Calamp Corp.
• Caterpillar Inc.
• Dronedeploy
• Giatec Scientific Inc.
• Hitachi, Ltd
• IoT Factory
• Iotium
• Kore Wireless
• Longview IoT
• Losant IoT
• Oracle Corporation
• Pillar Technologies, Inc.
• Procore Technologies, Inc.
• Sigfox
• Smartbarrel
• Tenna
• Trimble Inc.
• Wakecap Technologies
• Worldsensing