Internet of Things (IoT) in Construction – Thematic Intelligence
All the vital news, analysis, and commentary curated by our industry experts.
Internet of Things (IoT) in Construction Thematic Report Overview
The Internet of Things (IoT) refers to the use of connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within it. By deploying IoT sensors and devices throughout construction sites, companies can continuously monitor and gather data on various safety parameters. These sensors can detect potentially dangerous conditions, such as gas leaks, structural weaknesses, or hazardous temperature fluctuations, and instantly relay this information to workers and supervisors. Real-time alerts and notifications can be sent to workers’ wearable devices, ensuring they are aware of any imminent threats. Due to labor shortages and cost-cutting measures increasing the need for safety in the workplace, the fewer available workers must maintain productivity levels while adhering to stricter budgets, increasing the risk of onsite accidents. In this situation, deploying IoT in construction sites is a smart move.
The Internet of Things (IoT) in Construction thematic intelligence report assesses how IoT, combined with other emerging technologies, can be used across the construction value chain. It provides an overview of the current landscape. The report also includes key players and highlights opportunities for the use of IoT in the future. The report provides an industry-specific analysis based on GlobalData databases and surveys.
|Market Size (2022)
|· Physical Layer
· Connectivity Layer
· Data Layer
· Apps Layer
· Services Layer
|Specialist IoT Vendors
|· Built Robotics
|Enquire & Decide
|Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.
IoT in Construction – Industry Analysis
The IoT market including its hardware, services, and software components across the construction sector was valued at $15.6 billion in 2022. The market is expected to achieve a CAGR of more than 16% during 2022-2027. IoT software will be the largest part of the IoT services in the construction sector by 2027.
Global IoT Revenue Forecast in Construction by Product and Services, 2019-2027 ($ Billion)
Buy the Full Report for More Industry Insights into the IoT in Construction Market Forecast
IoT in Construction - Value Chain Analysis
The IoT value chain is split into five layers: physical, connectivity, data, apps, and services.
Physical layer: This layer can be further subdivided into connected things, cameras and lenses, sensors and microcontrollers, and microprocessors. Most connected devices such as smartphones, tablets, and laptops have a physical dimension controlled by humans. In the IoT, most connected things will be run by other connected things. For manufacturers of other devices such as washing machines, door locks, and light bulbs, among others, the challenge is whether they can retain the bulk of the added value during the transition to IoT. Their use of the data collected by various embedded chips, sensors, antennae, and beacons is also in question. Some industry profits will likely be siphoned out by technology companies that increasingly provide IoT solutions as a service.
IoT Value Chain Analysis
Buy Full Report for More Value Chain Insights into IoT in the Construction Market
Leading IoT Adopters
Some of the leading construction companies currently deploying IoT are:
Specialist IoT Vendors
Some of the specialist IoT vendors in the construction sector are:
- Built Robotics
Buy the Full Report to Know More About the Leading IoT Adopters and Vendors
Construction Sector Scorecard
At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecard has three screens: a thematic screen, a valuation screen, and a risk screen.
The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
The risk screen ranks companies within a particular sector based on overall investment risk.
Construction Sector Scorecard – Thematic Screen
Buy the Full Report to Know More about the Sector Scorecards
- This report provides an overview of the IoT theme. The detailed value chain comprises five layers: the physical layer, connectivity layer, data layer, app layer, and services layer. Leading and challenging vendors are identified across both segments.
- It identifies construction challenges, such as ESG, labor shortages, and safety, and an impact assessment of IoT on the construction industry, addressing these challenges.
- It includes three case studies, outlining market-leading use cases of IoT in construction to enhance building monitoring capabilities, equipment maintenance, and develop a connected worker safety system.
- It contains comprehensive industry analysis, including forecasts for IoT revenues to 2030, and insight from GlobalData’s Job Analytics and Patent Analytics databases.
- The report has extensive coverage and analysis of relevant companies’ positions in the IoT theme. This includes leading adopters, vendors, and specialist IoT vendors in construction.
- It includes GlobalData’s unique thematic scorecard that ranks construction companies according to their positioning in the ten themes most important to the industry, of which IoT is one.
The construction industry is widely considered one of the least digitized industries and has been slower to adopt AI than other sectors. This is due to a number of unique challenges the industry faces. Historically, computers did not have the processing power necessary to crunch the data needed for BIM, as it is often vast and unstructured. Access to this data was also notably inconvenient. However, in 2023, due to developments in computer power, semiconductors, and cloud computing, which facilitates data sharing, AI implementation has grown considerably.
IoT technologies are key to digitalization in the construction industry. Sensors, asset monitors, wearables, and integration with BIM can all improve safety, productivity, and, therefore, profit margins. For an industry that has large sites to manage, strict project timelines, hazardous working conditions, and tight profit margins, IoT can create a manageable view of construction sites for project managers, streamline operations, and protect workers.
Reasons to Buy
- This report will help you to understand IoT and its potential impact on the construction sector.
- Benchmark your company against your competitors, by comparing how prepared 46 companies in the construction sector are for IoT disruption.
- Identify and differentiate between the leading IoT vendors and formulate an adoption plan for your company.
- Position yourself for future success by investing in the right IoT technologies. Cut through the noise with GlobalData’s priority ratings for each IoT technology for each segment of the industry (conceptual design, feasibility studies, planning and permitting, financing, design and engineering, construction, and operations and maintenance).
- Develop relevant and credible sales and marketing messages for construction companies by understanding key industry challenges and where IoT use cases are most useful.
- Identify attractive investment targets by understanding which companies are most advanced in the themes that will determine future success in the construction industry.
Larsen & Toubro
Palo Alto Networks
Tata Consultancy Services
Table of Contents
The Impact of IoT on Construction
Market Size and Growth Forecasts
IoT Value Chain
Our Thematic Research Methodology
Frequently asked questions
What was the size of the IoT market across the construction sector in 2022?
The IoT market across the construction sector was valued at $15.6 billion in 2022.
What is the IoT market growth rate?
The IoT market is expected to grow at a CAGR of more than 16% during 2022-2027.
Who are the leading adopters currently deploying IoT?
Some of the leading construction companies currently deploying IoT are Acciona, ABB, and AECOM.
Who are the leading specialist IoT vendors in the construction sector?
Some of the leading specialist IoT vendors in the construction sector are Built Robotics, Earthcam, and Honeywell.
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.
Business Intelligence & Marketing Manager, SAL Heavy Lift
“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
Market Analyst & Management, Liebherr-Werk
“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”
Head of Key Accounts, Saab AB
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Marketing Intelligence Manager, Portugal Foods
Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.
Head of Customer Insight and Research, Standard Chartered
Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.
I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.
I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.
Head of Consumer Sensory Insights, Givaudan
“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.
Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”
Senior Account Manager, TSYS
GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise. The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.
I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.
One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.