Dublin, Dec. 21, 2023 (GLOBE NEWSWIRE) -- The "Internet of Things (IoT) in Construction - Thematic Research" report has been added to ResearchAndMarkets.com's offering.
The global construction industry remains troubled, with key markets suffering a sharp slowdown in output growth in real terms (constant prices) or a contraction. Overall, the global construction industry is now expected to grow by 1.8% in 2023, but excluding China, the growth rate will stand at just 0.4%. The deceleration in global growth reflects the challenging conditions in most markets around the world in the form of high inflation and a tightening in monetary policy that has dampened investment.
The combination of labor shortages and cost-cutting measures has heightened the need for safety in the workplace, as fewer available workers must maintain productivity levels while adhering to stricter budgets, increasing the risk of onsite accidents. 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.
Key Highlights
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.
Report Scope
- This report provides an overview of the IoT theme. The detailed value chain comprises of five layers: physical layer, connectivity layer, data layer, app layer, 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 the 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 the 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.
Key Topics Covered:
- Executive Summary
- Players
- Construction Challenges
- The Impact of IoT on Construction
- Case Studies
- Market Size and Growth Forecasts
- Signals
- IoT Value Chain
- Companies
- Sector Scorecard
Company Coverage
- Advantech
- Alphabet (Google)
- Amazon
- Apple
- Bosch
- Fujifilm
- Hikvision
- Lenovo
- Alibaba
- Arista Networks
- Cisco
- Dell Technologies
- Deutsche Telekom
- Ericsson
- Fortinet
- Alteryx
- Baldu
- Databricks
- IBM
- ABB
- Accenture
- AltSource
- Arup
- Atos
- Bentley Systems
- Biz4Group
- Cognizant
- AECOM
- Honeywell
- Larsen & Toubro
- Shimizu
- Siemens
- Ferrovial
- POSCO
- Balfour Beatty
- Vinci
- PCL Construction
- Built Robotics
- Proxxi
- Ynomia
- Zoomlion
- GreenVibe
- Samsung
- Trimble
- NavVis
- Maturix
- Viloc
- VisuaLynk
- Microsoft
- Nvidia
- Rockwell Automation
- Shimadzu
- Arm
- Sony
- TKD
- Veoneer
- Juniper Networks
- Nokia
- Orade
- Orange
- Sierra Wireless
- NetApp
- Oracle
- Palo Alto Networks
- Qualcomm
- SAP
- SAS
- Snowflake
- PTC
- Salesforce
- Samsung Electronics
- Schneider Electric
- Tesla
- Huawei
- Infineon
- McKinsey
- Mott McDonald
- Tata Consultancy Services
For more information about this report visit https://www.researchandmarkets.com/r/yk9rok
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