What Factors Propelled The Growth Of The IoT in construction Market In The Past?
The iot in construction market has seen considerable growth due to a variety of factors.
•The market size of Internet of Things (IoT) in the construction sector has seen a significant increase in the past few years. It is estimated to rise from $13.59 billion in 2024 to hit $15.66 billion in 2025, reflecting a compound annual growth rate (CAGR) of 15.3%.
The growth seen in the historic period can be linked to the implementation of building information modelling (BIM), improved safety procedures, increased efficacy and productivity, the surge of smart buildings and infrastructure, alongside cost savings achieved through automation.
What Is The Projected Growth And Market Size For The IoT in construction Sector?
The iot in construction market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of IoT in construction is anticipated to experience substantial growth in the coming years. The market value is projected to reach "$28.86 billion by 2029, with a compound annual growth rate (CAGR) of 16.5%.
This expected growth during the forecast period can be linked to the advancement in 5g connectivity, the increasing emphasis on sustainability, the rising trend in remote construction monitoring, synergy platforms and interoperability, and the demand for contactless construction operations. Key trends during this forecast period involve the rise of digital twins, the employment of IoT-based safety solutions, asset surveillance and management, predictive equipment maintenance, and data analytics for informed decision making.
Which Factors Are Boosting Growth In The IoT in construction Market?
Growth in construction and infrastructure projects is anticipated to drive progress in the IoT within the construction industry. The term "construction" denotes the process of combining various elements to create a customized structure at a specific location, in accordance with a precise design and plan. The importance of IoT in the construction sector is underscored by its ability to cultivate a sustainable approach that includes the use of recycled materials and a zero-waste lexicon. This can also serve as a valuable educational tool for the workforce, familiarizing them with the concept of sustainable construction. Thus, as the demand for construction activities rises, so does the demand for IoT in construction. An illustration of this can be found in November 2023, where the Office for National Statistics, a UK-based statistics authority, reported that total new work in the construction sector rose by $19781.69 million in 2022. This increase was evident in both private and public new work, which saw growth of 16.8% and 13.1% compared to 2021. Therefore, the escalating demand for construction and infrastructure activities is fueling the expansion of the IoT in the construction market.
What Key Areas Define The Segmentation Of The Global IoT in construction Market?
The IoT in construction market covered in this report is segmented –
1) By Type: Hardware, Software, Connectivity, Services
2) By Application: Machine Control, Site Monitoring, Fleet Management, Wearables, Other Applications
3) By End User: Residential, Non-Residential
Subsegments:
1) By Hardware: Sensors, Cameras, Wearables, RFID Tags
2) By Software: Project Management Software, Building Information Modeling (BIM) Software, Asset Tracking Software
3) By Connectivity: Cellular Networks, Wi-Fi, Low Power Wide Area Networks (LPWAN), Satellite
4) By Services: Consulting Services, System Integration Services, Maintenance And Support Services
Pre-Book The IoT in construction Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are Emerging Trends Reshaping The Dynamics Of The IoT in construction Market?
The IoT in construction market is witnessing technological advancements as one of the leading trends. Major organisations in this sector are creating novel technologies to boost market demand. For example, EarthCam, a company based in the US renowned for providing live stream and time-lapse construction cameras, introduced IoT StreamCam 4K for retail interior construction in 2023. The innovative IoT StreamCam 4K allows sharing of one 4G LTE data connection among up to eight low-power wireless devices. This cost-effective platform offers the functionality of small cameras and IoT devices to document interior growth and construction site conditions. By connecting Door Cams to the platform, it can serve as an effective photo time clock, accurately recording time-in and time-out. It can also log visitors, keep a track of deliveries, and scan basic QR codes. It features configurable IoT device alerts, including alerts for flood, smoke, and glass breakage.
Who Are the Key Players in the IoT in construction Market?
Major companies operating in the IoT in construction market include:
• Trimble Inc.
• Pillar Technologies Inc.
• Triax Technologies
• Brickeye LLC
• Hilti Aktiengesellschaft
• Topcon Corporation
• Autodesk Inc.
• Oracle Corporation
• Hexagon Metrology AB
• Sigfox S.A.
• Caterpillar Inc.
• Losant IoT inc.
• Giatec Scientific Inc.
• WorldSensing S.L.
• Kore Wireless Group.Inc.
• Robert Bosch GmbH
• Versatile Natures LLC
• SiteAware Inc.
• SmartVid Inc.
• Reconstruct Inc.
• Rhumbix Inc.
• Bridgit Solutions Inc.
• PlanGrid Inc.
• Procore Technologies Inc.
• Fieldwire Inc.
• BuildingConnected Inc.
• Bluebeam Inc.
• Raken Inc.
• Honeywell International Inc.
What Is The Most Dominant Region In The IoT in construction Market?
North America was the largest region in the IoT in construction market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global IoT in construction market report during the forecast period. The regions covered in the IoT in construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
