Sensors, RFID tags, building information modelling, virtual reality, and other smart technology, for example, aid in identifying potential hazards on a construction site, reducing resource requirements, preventing injuries and casualties, and wasting time and money.
IoT in Construction Market was valued US$ 8.86 Bn in 2021 and is expected to reach US$ 24.77 Bn by 2029, at a CAGR of 13.7%.
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Market Scope:
The report gives an overview of the IoT in Construction market , estimates are also included in the report which is a result of in-depth analysis. The market estimations are based on various factors like political, social, economic, etc. The report provides market growth and development strategies, a detailed outline is also mentioned in the report.
Market Overview:
The fundamentals of the iot in construction case study may be better understood by undertaking a thorough statistical analysis of present and emerging trends. The study looks at Porter’s five forces in order to evaluate the significance of a number of factors, such as threats presented by various agents, competitive strength, and the comprehension of a resource by ambitious young businesspeople. In order to determine the overall market size by countries and market segments, the study examined each nation at the micro level. The size of the local and global markets are forecasted using a technique called “bottom-up.” It is possible to establish how much the underground market contributes to the size of the larger market by performing a micro level examination of each nation. Meetings with well-known local business owners provided confirmation of the findings. Secondary research is used to include information from both freely available and commercially motivated sources, which is then examined. Actual government statistics, commercial databases, and annual reports for listed corporations are the sources for consumption by category and supply by each player in each country.
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Regional Analysis:
- North America
- Europe
- Asia-Pacific
- Middle East and Africa (MEA)
- South America
In the report’s research of the IoT in Construction Market, the supply networks of the producers, the laws and regulations in effect at the time, the cost structures, and market share are all examined. By comparing the cost of locally produced goods to the profit made, the regional markets for the IoT in Construction Market are investigated.
Market Key players:
• Caterpillar Inc.
• Sigfox
• Oracle
• CalAmp Corp
• Losant IoT
• Giatec Scientific, Inc.
• WorldSensing
• Kore Wireless
• Trimble Inc.
• Autodesk Inc
• Triax technologies
• Trimble, Inc.
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