Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Construction Sector Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)" report has been added to ResearchAndMarkets.com's offering.
The Construction Enterprise ICT Country Intelligence Report summarizes key findings from the ICT Customer Insight Survey carried out in H1-2023 and the market Opportunity Forecasts to 2027: Construction.
It reveals an executive-level overview of how the overall ICT budgets and their allocations towards various segments have changed for enterprises in the vertical in 2023 compared to 2022 and ICT revenue opportunity with detailed forecasts of key indicators up to 2027.
The report provides detailed analysis of the overall Construction's enterprise ICT market trends and growth drivers based on the publisher's ICT Customer Insight Survey and the market Opportunity Forecasts.
The report also discusses about the market growth inhibitors impacting Construction's overall ICT market. Its sheds focus on enterprise ICT budget allocations and ICT revenue opportunity covering 18 solution areas, segmental analysis, regional analysis, as well as review of key macroeconomic and regulatory trends, and government initiatives. The report also includes a brief profile on some of the key ICT vendors within the country.
The vertical intelligence provides information and insights into ICT budget allocations and ICT revenue opportunity for enterprises in Construction vertical
- Overall enterprise ICT revenue opportunity and ICT budget allocations for enterprises in Construction
- Insights on Construction's enterprise ICT growth drivers and market trends, ICT Customer Insight Survey and Market Oppotunity Forecasts to 2027
- Insights on market growth inhibitors impacting Construction's overall ICT market
- Breakdown of enterprise ICT revenue opportunity by solution areas and key regions
- Segmental analysis of Construction's enterprise ICT budget allocations and ICT revenue opportunity - hardware, software and services
- Insights on ICT technology spending priorities of enterprises on key solution areas in Construction
- Company snapshot
Report Scope
- ICT market growth of construction will be primarily driven growth in ICT budgets of construction companies, investments in 5G networks, and investments in construction tech startups will drive ICT market growth in the construction vertical.
- Construction's overall ICT market was pegged at $165.3 billion in 2022 and is expected to grow at a CAGR of 11.2% during 2022-2027 to reach $281.4 billion in 2027. Construction companies are using various digital technologies to quickly and efficiently build high quality structures. Several emerging technologies are used across the entire construction life cycle including building information modeling (BIM) for enhanced collaboration and error reduction and IoT devices to provide real-time data on equipment and project progress.
- The ICT decision makers survey reveals a positive outlook for enterprise ICT spending in construction, with a majority of respondents, about 84% from the country, claiming that there has been an increase in the enterprise ICT budget in 2023 compared to 2022.
- Cloud computing can be regarded as the most attractive market in construction driven by enterprises increasingly leveraging cloud to achieve operational efficiency while ensuring security and agility, and government actively promoting cloud adoption as a part of its nationwide digital initiative. The revenue opportunity for cloud computing in construction was pegged at $24.1 billion in 2022 and is estimated to grow at a CAGR of 17.3% between 2022-2027.
- ICT revenue opportunity in the APAC construction industry was pegged at $71.3 billion in 2022. It is expected to grow a CAGR of 12.6% during 2022-2027.
Key Topics Covered:
- Enterprise ICT Market in Construction Vertical (Highlights)
- Survey Demographics
- ICT in Construction Vertical - Market Overview
- Market Dynamics
- ICT Market by Infrastructure Segments
- Enterprise Investment Priorities in Key Solution Areas
- Enterprise Investment Priorities Across Key Verticals
- Company Snapshot
For more information about this report visit https://www.researchandmarkets.com/r/6cja27
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