Big Data in Construction Market

COVID-19 Impact analysis

• COVID-19 pandemic has shut-down many construction companies. This has hampered the growth of big data market in construction sector from the last few months and is likely to continue during 2021.
• COVID-19 has already affected the sales of big data services in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
• The major demand for Big Data services with cloud computation was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for Big data.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Key players of big data are expected to afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their service activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
• Big Data and construction companies both are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 
• The Covid-19 pandemic has hindered the growth of the big Data market specially in construction part as sectors such as energy, manufacturing, construction, and automotive were affected significantly. The construction sector in India, Middle East, Africa also witnessed a significant decline in the number of projects worldwide as most countries across the world have imposed lockdown restrictions, disrupting overall supply chain. India is one of the growing market for Big Data and the key players are expected to focus to the Indian market with construction part.

Top Impacting Factors

The idea of cloud computing is the most important driving factor forecasted in the market of Big Data. The restraints faced by the construction industry at recording basic information about project schedules, CAD designs, cost, invoices and employee details maintenance. Many unstructured data problems, faced like free text, printed information and analog sensor readings. Big data services harness to gain more insights and allow making more constructive decision for data handling.
Designing is very important in construction industries and Big data helps in analyzing the need and to build design and modeling, environmental data, stakeholder input, and social media discussions, can be used to determine not only what to build, but also where to build it. 
Huge investment in Big Data R&D is also a driving factor not only to construction industries but to all others too. Growing adoption of advanced and emerging technologies such as artificial intelligence (AI), robotics, Internet of Things (IoT), and machine learning, is gradually catalyzing transformation across industries where the construction industry acquisition plays a vital role.
Covid-19 made an adverse effect in the construction market as it requires workforce but slowly modern methods with safety measures are taken to bring back the work force.

Market Trends

• The trends in the construction market for Big Data optimization is growing very fast. Some of the key players in the market are focusing on the designing part. In some part of US big data analysis is used to decide where to build its new engineering facility for optimal student and university benefit. Patterns and probabilities of construction be measurable, forecasted in research.
• Other key competitors in the market is focusing in the operation for construction market. Big data from sensors built into buildings, bridges and any other construction makes it possible to monitor each one at many levels of performance. Energy conservation in malls, office blocks and other buildings can be tracked to ensure it conforms to design goals. Traffic stress information and levels of flexing in bridges can be recorded to detect any out of bounds events.

Key Segments Covered
Deployment Model Type

• Public Cloud
• Private Cloud
• Hybrid Cloud

Organization Size Type

• Small & Medium Enterprises 
• Large Enterprises

Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Rest of Europe
• Asia-Pacific 
  • China
  • Japan
  • India
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

Key Benefits of the Report

• This study presents the analytical depiction of the big data construction making industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the big data construction market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the big data in construction market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides details of big data in construction market analysis based on competitive intensity and how the competition will take shape in coming years.