According to the latest report by IMARC Group, "Global Construction 4.0 Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027", the global construction 4.0 market reached a value of US$ 11.88 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 30.54 Billion by 2027, exhibiting a CAGR of 16.20% during 2022-2027.
Construction 4.0 represents a subset of industry 4.0 comprising of interconnected technologies that automate, digitize, and integrate the construction process throughout the value chain. It generally relies on the Internet of Things (IoT), additive manufacturing, digital twin, cloud computing, building information modeling (BIM), and cyber-physical systems (CPS). Construction 4.0 assists in lowering energy use, developing 3D models that avoid inefficiencies and delays in projects, minimizing waste materials and carbon emissions, etc. In addition to this, it also reduces security risks for workers via virtual reality (VR) and augmented reality (AR) solutions.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Construction 4.0 Market Trends and Drivers:
The inflating need for new technologies in plastering, bricklaying, surveying, site and risk management, worker and asset tracking, etc., is primarily driving the construction 4.0 market. Additionally, the widespread adoption of construction drones for security, inspection, and monitoring of housing projects is further catalyzing the market growth. Besides this, the growing utilization of industrial 4.0 technologies in construction activities to enhance remote tracking and avoid human errors is acting as another significant growth-inducing factor.
Moreover, the increasing digitalization and waste optimization, as well as resource and proper time management in the construction industry, are positively influencing the global market. Apart from this, the rising integration of telematics and touchscreen infotainment systems, to deliver improved operational capabilities is anticipated to fuel the construction 4.0 market over the forecasted period.
Global Construction 4.0 Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
· ABB Ltd.
· Autodesk Inc
· Brickeye
· CalAmp Corp.
· Hexagon AB
· Hilti Corporation
· Mitsubishi Electric Corporation
· Oracle Corporation
· Topcon Corporation
· Trimble Inc.
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The report has segmented the market on the basis of region, solution, technology, application and end user.
Breakup by Solution:
- Hardware
- Software
- Services
Breakup by Technology:
- IoT
- Artificial Intelligence
- Industrial Robots
- Others
Breakup by Application:
- Asset Monitoring
- Predictive Maintenance
- Fleet Management
- Wearables
- Others
Breakup by End User:
- Residential
- Non-residential
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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