IOT in Construction Market by Offering (Hardware, Software, Services) by Project Type (Commercial, Residential), by Application (Remote Operation, Safety Management, Fleet Management) and Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2022 to 2029

Published on: May 2022
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Market Size	CAGR	Dominating Region
USD 32.01 billion	16.8%	North America

By Offering	By Project Type	By Application
Hardware Software Services	Commercial Residential	Remote Operations Safety Management Fleet Management Predictive Maintenance Others

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IOT in Construction Market Overview

The global IOT in construction market is expected to grow at 16.8% CAGR from 2022 to 2029. It is expected to reach above USD 32.01 billion by 2029 from USD 8.10 billion in 2020.

The Internet of Things (IoT) presents significant advantages to the construction sector, leveraging its proven efficacy in domains such as healthcare, manufacturing, automotive, and others where streamlined systems management and automation are paramount. With its diverse applications, IoT stands poised to enhance safety protocols and bolster productivity across construction sites.

The integration of devices and systems into a cohesive network, synchronized with a central server, facilitates streamlined monitoring, empowering supervisors to execute their duties efficiently while maintaining comprehensive oversight of project dynamics. This real-time visibility enables prompt identification and resolution of issues, minimizing downtime and preempting equipment failures. IoT capabilities enable precise control and monitoring of machinery movement, status, and progress, facilitating real-time reporting and optimizing operational coordination to augment productivity and mitigate delays.

ATTRIBUTE	DETAILS
Study Period	2020-2029
Base year	2021
Estimated year	2022
Forecasted year	2022-2029
Historical period	2018-2020
Unit	Value (USD Billion)
Segmentation	By Offering, By Project Type, By Application
By Offering	Hardware Software Services
By Project Type	Commercial Residential
By Application	Remote Operations Safety Management Fleet Management Predictive Maintenance Others
By Region	APAC North America MEA South America Europe

Governments in the Asia-Pacific region, including India, China, Malaysia, among others, are investing heavily in infrastructure and construction endeavors to establish smart cities, with the APAC infrastructure market projected to account for approximately 60% of the global market share by 2025. This substantial investment is expected to propel the IoT in construction market forward. Furthermore, governments in countries like Hong Kong, Singapore, and China are enacting stringent regulations to mitigate construction site accidents, with severe penalties imposed on violators of safety laws. Given IoT’s capacity for enhancing safety measures in construction, these regulatory measures are anticipated to present growth opportunities for the IoT in construction market within the APAC region in the foreseeable future.

IoT in Construction Market | Exactitude Consultancy

IOT in Construction Market Segment Analysis

The IOT in Construction market is divided on the basis of offering into hardware, software and services. The total IOT in construction market is expected to be dominated by the software sector. The need for software is being driven by firms’ constant focus on developing software that reflects numerous metrics in the dashboard and increased use of analytics for improved decision-making.

Furthermore, it is divided on the basis of project type into commercial and residential. On the basis of application, the IOT in construction market can be divided into remote operations, safety management, fleet management, predictive maintenance and others. During the projection period, remote operation will be the biggest sector of the entire market. The significant market share of the remote operations application is due to the growing use of IOT for machine control and real-time monitoring. Better waste management and resource optimization enabled by IOT technologies on building sites, on the other hand, are expected to boost industry growth throughout the projection period. Data-driven decision-making at the planning stage of building projects is likely to predict improved resource management, resulting in increased project efficiency.

IOT in Construction Market Players

Caterpillar Inc, Sigfox, Oracle Corporation, CalAmp Corp., Losant IOT, Giatec Scientific, Inc, WorldSensing, Kore Wireless, Trimble Inc., Autodesk Inc. are the key players in the IOT in Construction market.

To enhance their competitive positions and to meet the rising demand in diverse applications, these leading companies provide a comprehensive range of IOT solutions for the construction sector.

To increase their geographical footprint and enhance their product technologies, several rivals in the IOT in construction market used product launch as a significant developing strategy. For example, Triax Technologies, located in the United States, announced the Intrinsically Safe (IS) form of their IOT solution for use on construction sites in July 2020. During the COVID-19 epidemic, the IS version is accessible on the Spot-r network and Proximity Trace hardware devices, which provide contact tracing and social distancing technologies on building sites. Similarly, in September 2017, the American corporation Autodesk, Inc. announced Fusion 360, a cloud-based software platform that merges data from CAM, CAD, and CAE. The device was created with industrial applications in mind, with the goal of simplifying service operations and allowing predictive maintenance.

Who Should Buy? Or Key Stakeholders

Rubber manufacturers
Packaging companies
Retailers
Distributors
Packaging companies
Printing and publication companies
Others

Key Takeaways

The global IOT in construction market is expected to grow at 16.8% CAGR.
Based on offering, the total IOT in construction market is expected to be dominated by the software sector.
Based on projecy type, the market is dominated by commercial segment.
On the basis of application, remote operation will be the biggest sector of the entire market.
North America dominated the market in the regional share.
The integration of IoT technology for real-time monitoring and optimization of construction processes is a major trend in the construction market.

IOT in Construction Market Regional Analysis

The IOT in Construction market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).

North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA

The United States and Canada make up the North American area. North America’s substantial market share may be ascribed to the region’s various construction OEMs using IOT in their projects. Oracle Corporation, Caterpillar Inc., and CalAmp Corp. are just a few of the IOT in construction companies with headquarters in the region. The area is seeing increased investment in infrastructure and construction projects, which is helping to drive IOT adoption in the North American construction industry.

Key Market Segments: IOT in Construction Market

IOT in Construction Market by Offering, 2020-2029, (USD Million)

Hardware
Software
Services

IOT in Construction Market by Type of Project Type, 2020-2029, (USD Million)

Commercial
Residential

IOT in Construction Market by Application, 2020-2029, (USD Million)

Remote Operations
Safety Management
Fleet Management
Predictive Maintenance
Others

IOT in Construction Market by Region, 2020-2029, (USD Million)

North America
Europe
Asia Pacific
South America
Middle East And Africa

Important countries in all regions are covered.

Key Question Answered

What is the current size of the IOT in Construction market?
What are the key factors influencing the growth of IOT in Construction?
What are the major applications for IOT in Construction?
Who are the major key players in the IOT in Construction market?
Which region will provide more business opportunities for IOT in Construction in future?
Which segment holds the maximum share of the IOT in Construction market?

Introduction
1. Market Definition
2. Market Segmentation
3. Research Timelines
4. Assumptions and Limitations
Research Methodology
1. Data Mining
  1. Secondary Research
  2. Primary Research
  3. Subject-Matter Experts’ Advice
2. Quality Checks
  1. Final Review
3. Data Triangulation
  1. Bottom-Up Approach
  2. Top-Down Approach
  3. Research Flow
4. Data Sources
Executive Summary
Market Overview
1. Global IoT in Construction Market Outlook
  1. Market Drivers
  2. Market Restraints
  3. Market Opportunities
2. Impact of Covid-19 On IoT in Construction Market
3. Porter’s five forces model
  1. Threat from new entrants
  2. Threat from substitutes
  3. Bargaining power of suppliers
  4. Bargaining power of customers
  5. Degree of competition
4. Industry value chain Analysis
Global IoT in Construction Market by Offering
1. Hardware
2. Software
3. Services
Global IoT in Construction Market by Project Type
1. Commercial
2. Residential
Global IoT in Construction Market by Application
1. Remote Operations
2. Safety Management
3. Fleet Management
4. Predictive Maintenance
5. Others
Global IoT in Construction Market by Region
1. North America
  1. US
  2. Canada
  3. Mexico
2. South America
  1. Brazil
  2. Argentina
  3. Colombia
  4. Rest Of South America
3. Europe
  1. Germany
  2. UK
  3. France
  4. Italy
  5. Spain
  6. Russia
  7. Rest Of Europe
4. Asia Pacific
  1. India
  2. China
  3. Japan
  4. South Korea
  5. Australia
  6. South-East Asia
  7. Rest Of Asia Pacific
5. Middle East and Africa
  1. UAE
  2. Saudi Arabia
  3. South Africa
  4. Rest Of Middle East and Africa
Company Profiles* (Business Overview, Company Snapshot, Products Offered, Recent Developments)
1. Caterpillar Inc
2. Sigfox
3. Oracle Corporation
4. CalAmp Corp.
5. Losant IoT
6. Giatec Scientific, Inc
7. WorldSensing
8. Kore Wireless
9. Trimble Inc.
10. Autodesk Inc.

*The Company List Is Indicative

LIST OF TABLES

TABLE 1 GLOBAL IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 2 GLOBAL IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 3 GLOBAL IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 4 GLOBAL IOT IN CONSTRUCTION MARKET BY REGION (USD MILLIONS) 2020-2029

TABLE 5 US IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 6 US IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 7 US IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 8 CANADA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 9 CANADA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 10 CANADA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 11 MEXICO IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 12 MEXICO IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 13 MEXICO IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 14 BRAZIL IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 15 BRAZIL IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 16 BRAZIL IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 17 ARGENTINA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 18 ARGENTINA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 19 ARGENTINA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 20 COLOMBIA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 21 COLOMBIA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 22 COLOMBIA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 23 REST OF SOUTH AMERICA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 24 REST OF SOUTH AMERICA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 25 REST OF SOUTH AMERICA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 26 INDIA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 27 INDIA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 28 INDIA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 29 CHINA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 30 CHINA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 31 CHINA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 32 JAPAN IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 33 JAPAN IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 34 JAPAN IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 35 SOUTH KOREA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 36 SOUTH KOREA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 37 SOUTH KOREA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 38 AUSTRALIA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 39 AUSTRALIA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 40 AUSTRALIA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 41 SOUTH-EAST ASIA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 42 SOUTH-EAST ASIA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 43 SOUTH-EAST ASIA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 44 REST OF ASIA PACIFIC IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 45 REST OF ASIA PACIFIC IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 46 REST OF ASIA PACIFIC IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 47 GERMANY IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 48 GERMANY IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 49 GERMANY IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 50 UK IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 51 UK IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 52 UK IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 53 FRANCE IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 54 FRANCE IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 55 FRANCE IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 56 ITALY IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 57 ITALY IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 58 ITALY IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 59 SPAIN IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 60 SPAIN IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 61 SPAIN IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 62 RUSSIA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 63 RUSSIA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 64 RUSSIA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 65 REST OF EUROPE IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 66 REST OF EUROPE IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 67 REST OF EUROPE IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 68 UAE IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 69 UAE IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 70 UAE IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 71 SAUDI ARABIA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 72 SAUDI ARABIA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 73 SAUDI ARABIA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 74 SOUTH AFRICA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 75 SOUTH AFRICA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 76 SOUTH AFRICA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

TABLE 77 REST OF MIDDLE EAST AND AFRICA IOT IN CONSTRUCTION MARKET BY OFFERING (USD MILLIONS) 2020-2029

TABLE 78 REST OF MIDDLE EAST AND AFRICA IOT IN CONSTRUCTION MARKET BY PROJECT TYPE (USD MILLIONS) 2020-2029

TABLE 79 REST OF MIDDLE EAST AND AFRICA IOT IN CONSTRUCTION MARKET BY APPLICATION (USD MILLIONS) 2020-2029

LIST OF FIGURES

FIGURE 1 MARKET DYNAMICS

FIGURE 2 MARKET SEGMENTATION

FIGURE 3 REPORT TIMELINES: YEARS CONSIDERED

FIGURE 4 DATA TRIANGULATION

FIGURE 5 BOTTOM-UP APPROACH

FIGURE 6 TOP-DOWN APPROACH

FIGURE 7 RESEARCH FLOW

FIGURE 8 GLOBAL IOT IN CONSTRUCTION MARKET BY OFFERING, USD MILLION, 2020-2029

FIGURE 9 GLOBAL IOT IN CONSTRUCTION MARKET BY PROJECT TYPE, USD MILLION, 2020-2029

FIGURE 10 GLOBAL IOT IN CONSTRUCTION MARKET BY APPLICATION INDUSTRY, USD MILLION, 2020-2029

FIGURE 11 GLOBAL IOT IN CONSTRUCTION MARKET BY REGION, USD MILLION, 2020-2029

FIGURE 12 PORTER’S FIVE FORCES MODEL

FIGURE 13 NORTH AMERICA IOT IN CONSTRUCTION MARKET SNAPSHOT

FIGURE 14 EUROPE IOT IN CONSTRUCTION MARKET SNAPSHOT

FIGURE 15 ASIA PACIFIC IOT IN CONSTRUCTION MARKET SNAPSHOT

FIGURE 16 SOUTH AMERICA IOT IN CONSTRUCTION MARKET SNAPSHOT

FIGURE 17 MIDDLE EAST & AFRICA IOT IN CONSTRUCTION MARKET SNAPSHOT

FIGURE 18 CATERPILLAR INC: COMPANY SNAPSHOT

FIGURE 19 SIGFOX: COMPANY SNAPSHOT

FIGURE 20 ORACLE CORPORATION: COMPANY SNAPSHOT

FIGURE 21 CALAMP CORP.: COMPANY SNAPSHOT

FIGURE 22 LOSANT IOT: COMPANY SNAPSHOT

FIGURE 23 GIATEC SCIENTIFIC, INC: COMPANY SNAPSHOT

FIGURE 24 WORLDSENSING: COMPANY SNAPSHOT

FIGURE 25 KORE WIRELESS: COMPANY SNAPSHOT

FIGURE 26 TRIMBLE INC.: COMPANY SNAPSHOT

FIGURE 27 AUTODESK INC.: COMPANY SNAPSHOT

• What is the worth of the IOT in the Construction market?

The IOT in Construction market size had crossed USD 8.10 billion in 2020 and will observe a CAGR of more than 16.8% up to 2029 driven by the rising technological advancements.

• What is the size of the North America IOT in Construction industry?

North America held more than 48% of the IOT in Construction market revenue share in 2021 and will witness expansion.

• What are the upcoming trends of IOT in Construction market, globally?

The future of IOT in construction appears bright, as companies such as Trimble, Pillar Technologies, ES Track, and others are developing products and launching them in the market, encouraging construction business owners to give them a try and see for themselves the significant benefits of the technology.

• Which are the top companies to hold the market share in IOT in Construction market?

• Which is the largest regional market for IOT in Construction market?

North America held the highest share of the IOT in Construction market. North America’s substantial market share may be ascribed to the region’s various construction OEMs using IOT in their projects. Oracle Corporation, Caterpillar Inc., and CalAmp Corp. are just a few of the IOT in construction companies with headquarters in the region. The area is seeing increased investment in infrastructure and construction projects, which is helping to drive IOT adoption in the North American construction industry.

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