Northbrook, IL -- (SBWIRE) -- 11/04/2021 -- The report "IoT in Construction Market by Offering (Hardware, Software, Services), Project Type (Commercial, Residential), Application (Remote Operations, Safety Management, Fleet Management, Predictive Maintenance, Others), and Region - Global Forecast to 2024", is projected to grow from USD 7.8 billion in 2019 to USD 16.8 billion by 2024, at a CAGR of 16.5% between 2019 and 2024. The growth of the IoT in construction market is primarily triggered by the growing need to avoid project delays through better productivity and safety.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=214544022

The remote operations application segment is projected to register the highest CAGR during the forecast period.
The remote operations segment is the major application of IoT in construction in 2018. The use of IoT at the construction site for real-time monitoring, machine control, track workers, monitoring assets, and other purposes is responsible for the high market share of the remote operations segment.

The software segment is estimated to account for the major market share during the forecast period.
One of the major reasons behind the high market share of the software segment is the growing adoption of BIM across the globe. Additionally, continuous focus of the market players to develop software with multiple functionalities, such as visibility to employers about the location of their employees, their performance at site, and activities, are driving the demand for this segment.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=214544022

North America is estimated to be the largest market for IoT in construction in 2018.
North America was the largest IoT in construction market in 2018, and the trend is expected to remain the same. The North American region is segmented into the US and Canada. The high market share of the North American region is driven mainly by the presence of multiple construction OEMs, who are embracing the use of IoT in construction equipment and machinery. Additionally, growing investments in infrastructure and construction projects are also playing a major role in the growing adoption of IoT in the North American construction industry.

Key players operating in the IoT in construction market are Caterpillar Inc. (US), Oracle Corporation (US), Hitachi Ltd. (Japan), CalAmp Corp. (US), Sigfox (France), and Autodesk Inc. (US).

Key Questions Addressed by the Report :
- What are the major applications of IoT in construction market?
- Which project type is the major market of IoT in construction?
- Which region is the largest and fastest-growing market for IoT in construction market?
- What are the major offerings of IoT in construction market?
- What are the major strategies adopted by the leading market players?

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com