The Asia Pacific IoT in Construction Market would witness market growth of 14.7% CAGR during the forecast period (2023-2029).
Construction IoT solutions drastically change how the industry pivots as they become more widely available. Every partner may now comprehend what happens at every level of the real-time development process, from planning through constructive development, post-development, and how the structure performs during administration. Managing security & safety is among the most difficult tasks on a construction site. IoT-enabled tags can easily stop material or item theft because these sensors will let the user know where the materials or items are.
It is no longer essential to send out a human worker to conduct an in-depth analysis. IoT makes it possible to create a digital, real-time map of the working site that includes the most recent risks related to the operation and warns each employee when they reach at the area of risk. IoT technology will not only shield workers from hazardous situations, but additionally, it will be able to identify them before or as they develop. With real-time IoT data, employees may be more proactive about issues on the job site and avoid situations that might cause a safety incident and lost time.
The site logistics and material handling system has been cited as the main contributor to low productivity on construction sites. This is because it requires workers to handle equipment and materials more than once, moving them from delivery vehicles to warehouses or other storage facilities and back to their final destination. Considering this concern, Japanese construction businesses have started using robotics and other automation methods to manage site logistics and material handling. For example, automated high-rise building assembly systems are designed to solve this problem since they coordinate logistics and material handling on the construction site, like how a factory coordinates material handling throughout the manufacturing process. These factors suggest that the IoT in construction market will expand in the region.
The China market dominated the Asia Pacific IoT in Construction Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $2,694.4 million by 2029. The Japan market is estimated to grow a CAGR of 13.9% during (2023 - 2029). Additionally, The India market would exhibit a CAGR of 15.4% during (2023 - 2029).
Based on End User, the market is segmented into Non-residential and Residential. Based on Component, the market is segmented into Hardware, Software, Services and Connectivity. Based on Application, the market is segmented into Predictive Maintenance, Asset Monitoring, Wearables, Fleet Management and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide IoT in Construction Market is Projected to reach USD 30.2 Billion by 2029, at a CAGR of 14.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Autodesk, Inc., Advanced Opto-Mechanical Systems and Technologies Inc., CalAmp Corp, Hexagon AB, Hilti AG, Oracle Corporation, Topcon Corporation, Triax Technologies, Inc., Trimble, Inc., and Giatec Scientific Inc.
By End User
By Component
By Application
By Country
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