The global construction 4.0 market was valued at $11,851.4 million in 2021, and is projected to reach $62,164.1 million by 2031, registering a CAGR of 17.7% from 2022 to 2031.
Construction companies often refer to the concept of "industry 4.0" as the post-industrial revolution. Digital technologies, including IoT, 3D printing, virtual reality, and others, were used in construction 4.0 to increase production, accuracy, efficiency, and customer satisfaction. Utilizing technology such as social media, mobile, analytics, and the cloud, it relates to building activities (SMAC). Artificial intelligence (AI), augmented reality, and the Internet of Things (IoT) have penetrated both the construction sector and human way of life. The incorporation of new technology into numerous building activities, including bricklaying, plastering, and surveying, dramatically impacted the construction industry's operations. Additionally, these technologies are used for asset tracking, risk management, personnel tracking, and management of building sites.
The expansion of the construction sector boosted the need for digital tools like building information modelling (BIM) and the Internet of Things (IoT) to boost efficiency, accuracy, and productivity, which fueled the worldwide construction 4.0 market's expansion. Additionally, major market competitors are concentrating on their product launch strategies to meet the customers' increasing demands. For instance, in November 2022, Trimble and the Hilti Group, a global leader providing innovative tools, technology, software, and services to the commercial construction industry, has launched its new Hilti ON!Track asset management system which will integrate with Trimble Viewpoint Vista, an ERP solution within the Trimble Construction One suite platform.
Technology such as IoT, robots, BIM, and others are utilized to increase the precision and productivity of construction. Real-time monitoring, analysis, and data capturing capabilities of IoT can lower the cost of facility service. In addition, proper time management of construction sites and maintenance of safety in the construction industry are anticipated to drive the growth of the global construction 4.0 market. For instance, in July 2022 Thinkproject, a leading company in software as a service (SaaS) launched RAMM integrated asset management and maintenance solution in the UK. It offers a cloud-based SaaS solution for any asset, in any location, at any time. In addition, it also offers lifecycle management, connecting all stakeholders and helping asset owners make informed, data-driven decisions. The use of technologies in the construction industry, such as IoT, robotics, smart controllers, machine learning, and others, is also projected to fuel the expansion of the construction 4.0 market due to advantages such as time efficiency and high accuracy.
Increased security threats in connected devices are restraining market growth. For instance, in January 2023, an article published by ETCIO website by Check Point Research (CPR) company released new data in 2022 cyber-attack trends showing that global cyber-attacks increased by 38% in 2022, compared to 2021. In addition, lack of skilled staff and capital in developing countries is anticipated to hamper the growth of the construction 4.0 market.
Additionally, due to aspects such as reducing repetitive work and human mistakes, digital technologies are widely being used in construction activities. Construction projects make use of modern technologies like 3D scanning, BIM (building information modelling), augmented reality, and drones. For instance, in June 2022, Government initiatives, such as smart advanced manufacturing, rapid transformation hub (SAMARTH), and Udyog Bharat 4.0 in India, are implemented to strengthen the competition. Such instances are anticipated to provide lucrative opportunities for the growth of the construction 4.0 market during the forecast period.
The global construction 4.0 market is segmented on the basis of solution, technology, application, end user, and region. By solution, the construction 4.0 market is fragmented into hardware, software, and services. By technology, the global construction 4.0 market is categorized into IoT, artificial intelligence, industrial robots, and others. By application, the market is divided into asset monitoring, predictive maintenance, fleet management, wearables, and others. By end user, the market is classified into residential and non-residential.
Region wise, the global construction 4.0 market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Construction companies often refer to the concept of "industry 4.0" as the post-industrial revolution. Digital technologies, including IoT, 3D printing, virtual reality, and others, were used in construction 4.0 to increase production, accuracy, efficiency, and customer satisfaction. Utilizing technology such as social media, mobile, analytics, and the cloud, it relates to building activities (SMAC). Artificial intelligence (AI), augmented reality, and the Internet of Things (IoT) have penetrated both the construction sector and human way of life. The incorporation of new technology into numerous building activities, including bricklaying, plastering, and surveying, dramatically impacted the construction industry's operations. Additionally, these technologies are used for asset tracking, risk management, personnel tracking, and management of building sites.
The expansion of the construction sector boosted the need for digital tools like building information modelling (BIM) and the Internet of Things (IoT) to boost efficiency, accuracy, and productivity, which fueled the worldwide construction 4.0 market's expansion. Additionally, major market competitors are concentrating on their product launch strategies to meet the customers' increasing demands. For instance, in November 2022, Trimble and the Hilti Group, a global leader providing innovative tools, technology, software, and services to the commercial construction industry, has launched its new Hilti ON!Track asset management system which will integrate with Trimble Viewpoint Vista, an ERP solution within the Trimble Construction One suite platform.
Technology such as IoT, robots, BIM, and others are utilized to increase the precision and productivity of construction. Real-time monitoring, analysis, and data capturing capabilities of IoT can lower the cost of facility service. In addition, proper time management of construction sites and maintenance of safety in the construction industry are anticipated to drive the growth of the global construction 4.0 market. For instance, in July 2022 Thinkproject, a leading company in software as a service (SaaS) launched RAMM integrated asset management and maintenance solution in the UK. It offers a cloud-based SaaS solution for any asset, in any location, at any time. In addition, it also offers lifecycle management, connecting all stakeholders and helping asset owners make informed, data-driven decisions. The use of technologies in the construction industry, such as IoT, robotics, smart controllers, machine learning, and others, is also projected to fuel the expansion of the construction 4.0 market due to advantages such as time efficiency and high accuracy.
Increased security threats in connected devices are restraining market growth. For instance, in January 2023, an article published by ETCIO website by Check Point Research (CPR) company released new data in 2022 cyber-attack trends showing that global cyber-attacks increased by 38% in 2022, compared to 2021. In addition, lack of skilled staff and capital in developing countries is anticipated to hamper the growth of the construction 4.0 market.
Additionally, due to aspects such as reducing repetitive work and human mistakes, digital technologies are widely being used in construction activities. Construction projects make use of modern technologies like 3D scanning, BIM (building information modelling), augmented reality, and drones. For instance, in June 2022, Government initiatives, such as smart advanced manufacturing, rapid transformation hub (SAMARTH), and Udyog Bharat 4.0 in India, are implemented to strengthen the competition. Such instances are anticipated to provide lucrative opportunities for the growth of the construction 4.0 market during the forecast period.
The global construction 4.0 market is segmented on the basis of solution, technology, application, end user, and region. By solution, the construction 4.0 market is fragmented into hardware, software, and services. By technology, the global construction 4.0 market is categorized into IoT, artificial intelligence, industrial robots, and others. By application, the market is divided into asset monitoring, predictive maintenance, fleet management, wearables, and others. By end user, the market is classified into residential and non-residential.
Region wise, the global construction 4.0 market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The major players profiled in the construction 4.0 market include Advanced Opto-Mechanical Systems and Technologies Inc, ABB Ltd, Autodesk Inc, CalAmp Corporation, Hexagon AB, Hilti Corporation, Mitsubishi Electric Corporation, Oracle Corporation, Topcon Corporation, and Trimble, Inc. Major companies in the market have adopted product launch, acquisition and partnership as their key developmental strategies to offer better products and services to customers in the construction 4.0 market.Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the construction 4.0 market analysis from 2021 to 2031 to identify the prevailing construction 4.0 market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the construction 4.0 market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global construction 4.0 market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Solution
- Hardware
- Software
- Services
By Technology
- IoT
- Artificial Intelligence
- Industrial Robots
- Others
By Application
- Predictive Maintenance
- Fleet Management
- Asset Monitoring
- Wearables
- Others
By End User
- Residential
- Non-residential
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Hexagon AB
- Advanced Opto-Mechanical Systems and Technologies Inc.
- Oracle Corporation
- Trimble, Inc.
- Mitsubishi Electric Corporation
- Hilti Corporation
- ABB Ltd.
- CalAmp Corporation
- Autodesk Inc.
- Topcon Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CONSTRUCTION 4.0 MARKET, BY SOLUTION
CHAPTER 5: CONSTRUCTION 4.0 MARKET, BY TECHNOLOGY
CHAPTER 6: CONSTRUCTION 4.0 MARKET, BY APPLICATION
CHAPTER 7: CONSTRUCTION 4.0 MARKET, BY END USER
CHAPTER 8: CONSTRUCTION 4.0 MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Construction 4.0 Market," the construction 4.0 market was valued at $11.9 billion in 2021, and is estimated to reach $62.2 billion by 2031, growing at a CAGR of 17.7% from 2022 to 2031. The recent industrial revolution in the building industry is referred to as"Construction 4.0." It consists of equipment that can process enormous volumes of data, such as industrial robots, drones, sensors, Internet, and AI. Construction 4.0 has many benefits, including time and money savings, an enhanced perception of the construction industry, higher output, and a client-centered approach.Construction is made more precise and productive by utilising technology like IoT, robots, BIM, and others. IoT's real-time monitoring, analysis, and data collection capabilities can make facility maintenance less expensive. The expansion of the global construction 4.0 market is also projected to be fueled by appropriate time management of construction sites and upkeep of safety in the construction sector. As an illustration, Thinkproject, a well-known provider of software as a service (SaaS), introduced RAMM, an integrated asset management and maintenance solution, in the UK in July 2022. For any asset, in any place, at any time, it provides a cloud-based SaaS solution. It also provides lifecycle management, which links all parties and aids asset owners in making defensible, data-driven decisions. The use of technologies in the construction industry, such as IoT, robotics, smart controllers, machine learning, and others, is also projected to fuel the expansion of the construction 4.0 market due to advantages such as time efficiency and high accuracy.
Growing security risks in linked gadgets are limiting market expansion. For instance, a January 2023 article by Check Point Research (CPR) organisation published on ETCIO website presented new statistics on 2022 cyber-attack patterns, which revealed that the number of cyber-attacks worldwide grew by 38% in 2022 compared to 2021. However, it is projected that the development of the construction 4.0 market would be hampered by a lack of money and skilled labour in underdeveloped nations.
In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering growth of the construction 4.0 market. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.
Digital technologies are also commonly used in construction operations due to factors including lowering repetitive labour and human errors. Modern technology like 3D scanning, BIM (building information modelling), augmented reality, and drones are used in construction projects. For instance, government programmes like SAMARTH (smart advanced manufacturing, rapid transformation centre) and Udyog Bharat 4.0 in India are put into place in June 2022 to increase competitiveness. Throughout the projected period, it is anticipated that such situations would present attractive prospects for the expansion of the construction 4.0 market.
The global construction 4.0 market is segmented on the basis of solution, technology, application, end user, and region. Based on solution, the construction 4.0 market is fragmented into hardware, software, and services. Based on technology, the global construction 4.0 market is categorized into IoT, artificial intelligence, industrial robots, and others. Based on application, the market is divided into asset monitoring, predictive maintenance, fleet management, wearables, and others. By end user, the market is classified into residential and non-residential.
Region wise, the global construction 4.0 market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
COMPETITION ANALYSIS
The major players profiled in the construction 4.0 market include Advanced Opto-Mechanical Systems and Technologies Inc, ABB Ltd, Autodesk Inc, CalAmp Corporation, Hexagon AB, Hilti Corporation, Mitsubishi Electric Corporation, Oracle Corporation, Topcon Corporation, and Trimble, Inc. Major companies in the market have adopted product launch, acquisition and partnership as their key developmental strategies to offer better products and services to customers in the construction 4.0 market.
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging global construction 4.0 market trends and dynamics.
- Based on solution, the hardware segment accounted for maximum share of the construction 4.0 market in 2021.
- Based on technology, the IoT segment accounted for maximum share of the construction 4.0 market in 2021.
- By application, the asset monitoring segment generated the highest revenue during 2021 in the construction 4.0 market.
- By end user, the non-residential segment generated the highest revenues during 2021 in the construction 4.0 market.
- Region-wise, North America dominated the market in 2021. Moreover, Asia-Pacific is anticipated to dominate the global construction 4.0 market exhibiting highest CAGR during the forecast period.
- The report provides an extensive analysis of the global construction 4.0 market trends and emerging opportunities of the market.
- The global construction 4.0 market forecast analysis from 2021 to 2031 is included in the report.
Companies Mentioned
- Hexagon AB
- Advanced Opto-Mechanical Systems and Technologies Inc.
- Oracle Corporation
- Trimble, Inc.
- Mitsubishi Electric Corporation
- Hilti Corporation
- ABB Ltd.
- CalAmp Corporation
- Autodesk Inc.
- Topcon Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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