IoT in Construction Market to Witness a Pronounce Growth at CAGR during 2027
Stratview Research delivers key insights on the global IoT in Construction Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the IoT in Construction Market:
Caterpillar Inc.
Autodesk Inc.
Oracle Corporation
Trimble Inc.
Kore Wireless
Worldsensing
Giatec Scientific Inc.
Losant IoT
Sigfox
Calamp Corp
Growth drivers and Market Value:
This report, from Stratview Research, studies the IoT in Construction Market value and growth drivers over the trend period of 2022-27. According to the report -
IoT in construction market is likely to witness an impressive CAGR of 16.7% during the forecast period. The demand for IoT in constructions is driven mainly by the increasing demand from power electronics end-use industry.
Based on Project Type:
Based on the project type, the market is segmented as commercial and residential. The residential segment held the larger share of the market in 2021, and is expected to remain dominant during the forecast period. The higher share is attributed to the rising residential development in developing economies and increasing renovation activities in developed nations.
Based on Region:
In terms of regions, North America is projected to be the largest market for IoT in constructions during the forecast period. The North American market is expected to expand with a lucrative CAGR due to presence of dominant market players, and growing investment in infrastructure and construction projects in the region.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for IoT in Construction Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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