Internet of Things (IoT) is important for digitalization in the construction industry. The term IoT in construction refers to the usage of technical equipment or IoT and modern-day Internet software in the construction process in order to enhance project efficiency. It uses connected sensors and actuators to manage and monitor the environment. The IoT is extremely beneficial to the construction industry. It enables the monitoring and accounting of various assets and people across a traditionally fragmented sector. The integration of IoT with construction equipment, machinery, and devices helps to perform operations efficiently to reduce construction time and effectively utilize resources.
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Construction IoT sensors refer to the use of Internet-connected sensors by workers and are placed around project sites. IoT in construction allows for the collection of many types of data regarding activity, conditions, performance on the construction site, and transmission of these information to a central dashboard where data is evaluated to help take informed decisions.
IoT Improves Productivity and Safety at Construction Sites
Technology is fast developing. Digital technologies, such as IoT, is transforming the construction industry by providing information that allows more timely maintenance, better parts management, and better machine utilization. As the IoT technology is beginning to mature, the management of construction sites is likely to undergo fundamental changes. IoT has already achieved significant progress in the construction industry, and is expected to significantly improve productivity and safety at work site.
IoT is frequently used with wearable devices to monitor the health and safety of a wide range of people, including elderly, at-risk patients, and employees. Construction workers/employees can be monitored on the job remotely due to IoT. These devices provide construction managers with automatic headcounts, mapping the position of all employees, identifying risks, and transmitting safety alerts. For instance, according to OSHA, in 2018, 21% of worker fatalities occurred in construction. In 2019, 107 employees died at construction sites in France, and over 90,000 accidents occurred. Furthermore, as per the Bureau of Labor Statistics (BLS), a federal agency that collects and disseminates data about the U.S. economy and labor market, in 2020, 1,008 construction workers died in the United States. In 2020, there were 174,100 cases of injuries in the construction sector.
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Construction IoT sensors can be embedded in wearables and modified to particular use cases, such as detecting changes in air quality to warn employees that they are approaching a harmful environment; monitoring vitals such as heart rate; warning about malfunctioning equipment before use; and informing about maintenance requirements to avoid accidents and putting construction workers’ at risk.
The construction industry is regulated through deadlines and targets. Construction projects require constant progress to be effective, and experience huge delays and cost overruns when productivity is disrupted. Project delays result in inactive equipment and laborers, which incur expenses even during downtime. IoT solutions for construction can improve productivity by increasing readiness and efficiency.
The late supply of materials often occurs at the site, owing to poor scheduling caused by human error. When an IoT supply unit is equipped with an appropriate sensor, it is possible to automatically estimate the quantity and place orders or raise alarms. Moreover, IoT data aids in scheduling by allowing work activities to be planned and executed in a logical order, thereby, reducing time spent between construction phases.
The applications of IoT in the construction industry offers contractors and supervisors with real-time information about productivity. It can detect periods of high productivity as well as periods of idleness. This data must be collected throughout since it allows managers to make informed decisions about project schedules and scope. Data insights assist managers in scheduling jobs during peak productivity hours to achieve consistent, high-quality outputs, particularly on time-consuming or detail-intensive projects. Therefore, improvement of productivity and safety on site by IoT is expected to increase the demand for IoT in the construction market.
Government Approach toward Establishment of Smart Cities to Boost Demand for IoT in Construction
In the global construction industry, government policies are emphasizing on smart construction technologies such as IoT, concerning smartization, productivity improvements, and automation technologies. Additionally, under the initiative of the private sector, smart construction safety technologies (SCSTs) have been developed to ensure worker safety. In terms of international occupational safety, IoT wearable technologies for the construction industry have been developed, and the integrated platform developments required to connect them have become mainstream. For instance, the Indian Government aims to develop connected smart cities using the IoT technology solutions to provide a clean and sustainable environment, core infrastructure, and a better quality of life for its citizens through initiatives such as the Smart City Mission and Digital India.
Moreover, IoT solutions have been developed in India, with emphasis on addressing India-specific issues, necessitating investment to establish an appropriate ecosystem for talent development, capacity building, network and domain-specific standards, and RD activities. Similar to India, other countries such as the United States, Australia, and Japan have developed IoT technologies in order to accelerate the adoption of smart cities. On the other hand, governments foster an environment wherein InfraTech can thrive. They can encourage innovation and adoption of smart transportation and construction, green energy, and digital governance by implementing a coordinated, national and regional strategy driven by IoT, drones, and other technologies. Thus, government approach toward smart city development is likely to aid in the growth of the IoT in construction market.
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Regional Outlook of Global IoT in Construction Market
The IoT in construction market in North America is anticipated to hold a prominent share by the end of 2022. The penetration of advanced technologies and IoT devices in the construction sector is high in North America as compared to other regions. Additionally, the presence of prominent companies such as Caterpillar, Oracle Corporation, Autodesk, Trimble, Giatec Scientific, Inc., KORE Wireless Group, Losant IoT, and CalAmp is projected to promote IoT technology deployment in the construction industry during the forecast period. Moreover, increasing use of IoT in modular construction and prefabricated buildings in U.S. construction activities is propelling the IoT in construction market in the region.
The market in Europe is expected to grow at the highest CAGR over the forecast period, due to technological developments and increased recovery of residential construction. The IoT in construction market in Europe is projected to hold the largest incremental potential among all regional markets during the forecast period.
The Asia Pacific IoT in construction market is predicated to rise during the forecast period, owing to the significant adoption of new technologies. In addition, rapid urbanization and growth of the construction industry in developing countries such as China, India, Japan, and Singapore are anticipated to drive adoption of IoT technology in the construction industry.
Analysis of Major Players in Global IoT in Construction Market
The global IoT in construction market is consolidated with a few large-scale vendors controlling majority of the market share. Most of the firms are spending significant sums of money on comprehensive research and development. Diversification of product portfolios and mergers acquisitions are the key strategies adopted by market players. AgileVision Sp. Z O.O., Autodesk Inc., CalAmp, DIGITEUM, Giatec Scientific, Inc., Pillar Technologies, Inc., Kore Wireless, Losant IoT, Oracle Corporation, PlanRadar, SIGFOX, Triax Technologies, Trimble Inc., Unearth Technologies, Inc., and Worldsensing, among others are the prominent entities operating in the market. The future of smart construction is bright, as companies such as Trimble, Pillar Technologies, and ES Track, are introducing new IoT solutions for the construction industry in the market.
Each of these players have been profiled in the IoT in construction market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
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