Report Code: A13620 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Iot In Commercial Construction Market
Request Now !Internet of Things (IoT) is a digital device system connected to hardware systems, computer devices, and machine tools, with different embedded detectors to enable data transfer between various parts of the system while removing human interference. Leading players working in the construction industry tend to build IoT with building equipment, and machinery to perform tasks efficiently to reduce construction time and use resources effectively.
Market Scope and Structure Analysis
Accounting for construction and tracking equipment, remote monitoring, improved maintenance planning, and waste management are some of the key benefits of IoT, which increases product acceptance. Improved personnel safety, automatic workflow and its ability to provide space monitoring and navigation management are expected to significantly increase the need for technology in the coming years.
The surge in tendency of government to create a smart city and the rise in demand for smart homes and construction is stimulating the industrial environment. Increased focus on the construction of power stations, smart matrices, efficient homes, and developed urban communities is fueling IoT integration across the construction industry. The proliferation of commercial buildings combined with advanced technology and surge in demand for smart homes is projected to boost the market growth.
COVID-19 Impact Analysis
Top Impacting Factors
IoT is introduced in the construction industry hoped to improve the accuracy of measurements and raise the confidence of business owners, construction managers, and investors. IoT minimizes operational costs by delivering effective and efficient project management solutions. Application of advanced technologies such as drones, construction data, Radio Frequency Identification (RFID) tags, sensors, drive further development in the construction industry. Supply sensors enhance the efficiency of managers by ordering automatically in case of dearth and set off alarms, whereas moisture and heat sensors can enlarge the length of the machinery.
Rapid infrastructure and urban growth in developing countries are expected to drive the adoption of IoT technology in the industry. The rise in need for connected vessels management in the construction industry to assist project managers to maintain delivery tabs is expected to continue to support the demand for IoT technology. IoT construction solutions have the potential to improve waste management methods using sensor-based tools that monitor site waste levels and calculate highly efficient waste collection routes to reduce recycling and waste disposal costs. The advantage of monitoring the construction process remotely with the help of IoT technology is expected to drive rapid progress in construction areas that are not accessible to workers. Increased adoption of forecasting technology to track the state of heavy machinery and fuel consumption of various machines increases the expansion of IoT technology.
Marketing Trends
Digital payment experience by Oracle is enhanced by Manage Pay in July 2021. Manage Pay Systems Berhad (MPay), the leading fintech and payment company in Malaysia, has selected Oracle Cloud to help it improve its customer experience and deliver its product promise as a trusted partner for small and medium (Malaysian) small businesses in Malaysia. With OCI, MPay soon has a secure, reliable, and awesome platform that supports key applications within its digital environment enabling Malaysian small businesses to trade online.
Trimble merges with Infotech to streamline inspection measurement workflows for civil infrastructure projects in June 2021. It is expected to develop digital delivery technology, by enabling customers to facilitate office workflow in the field and work in the same data center to deliver real-time testing and construction projects with accuracy,Â
Trimble introduced a geotechnical portfolio to its geospatial automated monitoring portfolio through collaboration with Worldsensing, a wireless connectivity technology provider and an industry-leading manufacturer of geotechnical IoT monitoring systems in June 2021. It gives a completely automated wireless monitoring solution that assists reduce field visits and increases security by reducing the need for manual learning. Automatic measurements generate instant notifications and covering with the new Trimble Geotechnical Edition software, which enables users to simplify the use of monitoring systems and simplify communication with geotechnical sensors.Â
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Questions answered in the report.
IoT in Commercial Construction Market Report Highlights
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Key Market Players | Worldsensing,, Sigfox, KORE Wireless Group, Losant Iot, Caterpillar Inc., Trimble, Autodesk, Giatee Scientific Inc., Calamp., Oracle Corporation |
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