Transforming The Construction Industry With IoT!!

 

The IoT in construction is rapidly gaining traction owing to the advent of the fourth industrial revolution. The internet of things in the construction industry enables real-time monitoring of equipment and site, data storage, and remote accessibility. The technological advancements in the field of IoT and emerging players in the industry are fueling the growth of the IoT in construction market. The North American region is likely to experience robust growth in the forecast period owing to rapid technology adoption and a large number of vendors in the region.

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The IoT in construction market is anticipated to grow in the forecast period owing to driving factors such as developments in the field of internet of things and its increased penetration in the construction sector. Significant reduction in costs is yet another factor fueling the market growth. However, the sluggish growth of the construction sector may hamper the growth of the IoT in construction market during the forecast period. On the other hand, the incorporation of artificial intelligence and machine learning offers significant opportunities for the IoT in construction market in the future.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global IoT in construction market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The IoT in construction market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

`The report analyzes factors affecting IoT in construction market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the IoT in construction market in these regions.

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