IoT in Construction Market to see Rapid Growth by 2029

 IoT in construction market is anticipated to grow at a significant CAGR of 15.5% during the forecast period.  The inclusion of internet-connected devices in the construction industry has benefitted the sector by reducing operational costs, enhancing productiveness, and efficient project management. The introduction of smart technologies such as sensors, RFID tags, building information modeling, augmented reality, and others assist in recognizing potential risk on a construction site thereby avoiding accidents and fatalities, and wastage of time and money, which is expected to boost the IoT in construction market during the forecast period. Moreover, the construction sector is highly labour-intensive and includes working in highly risky environments. IoT is randomly used with wearable devices to monitor the health and safety of the people by providing automatic headcounts, identifying risk, and transmitting safety alters.  As per Occupational Safety and Health Administration (OSHA), a part of the US Department of Labour, there are approximately 252,000 construction sites in the US that employ 6.5 million people.     

Further, prominent market players are producing and launching new IoT solutions for the construction industry, which is expected to fuel market growth. For instance, in June 2020, Condat announced its partnership with Sigfox, to create CondatLink, an IoT solution capable of helping tunnel boring machine operators to better manage their supply and stock of sealant on construction sites. The CondatLink solution is available internationally and enables more precise information about the level of consumption of sealant on building sites. The device is attached to the drums as soon as they leave the production plant, the information obtained by this connected device is sent to Condat and their clients via the Sigfox 0G network and available on a dedicated tracking application. 

To Request a Sample of our Report on IoT in Construction Market:  https://www.omrglobal.com/request-sample/iot-in-construction-market

IoT in Construction Market Segmentation

By Component 

·        Hardware

·        Software

By Application  

·        Fleet Management

·        Predictive Management

·        Safety Management

·        Remote Operations

By End User 

·        Residential 

·        Non-residential  

A full Report of IoT in Construction Market is Available @  https://www.omrglobal.com/industry-reports/iot-in-construction-market

Regional Analysis                                                                                                                                                                            

North America

·        United States

·        Canada

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan

·                  South Korea

·                  Rest of APAC

Rest of the World

Company Profiles 

·        Amazon 

·        CalAmp Corp.

·        Giatec Scientific Inc. 

·        Hexagon AB

·        Kore Wireless Group

·        losant IoT

·        Pillar Technologies, Inc.

·        Telit

·        Topcon Corp. 

·        Triax Technologies, Inc.

·        UnaBiz Pte., Ltd.

·        Worldsensing S.L.

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About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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