There are several areas where IoT can be of great influence and construction industry is one among them. Some of the major areas where IoT could be deployed in construction industry are remote support and operation, equipment servicing, fleet management, fuel savings, and for BIM (building information modelling). With the implementation of IoT systems construction companies can save time and cost.
Construction equipment with sensors could be remotely monitored for issues like temperature fluctuations. When any issue is noticed, workers are alerted, and it is solved as soon as possible eliminating any possible failure of critical equipment. This could be considered as one of the instances of predictive maintenance used for preventing unnecessary delays in construction projects.
Microsoft, SAP, IBM, Intel, Cisco and L&T, are some of the key providers of IoT solutions in construction industry.
According to Infoholic Research, the IoT in construction industry will witness a CAGR of XX% during the forecast period 2018–2023. Bringing out the key insights of the industry, the report aims to provide an opportunity for players to have a deep understanding of the latest trends, current market scenarios, government initiatives, key leading news, and technologies related to the market. In addition, it helps venture capitalists in understanding the companies better and make informed decisions. It is primarily designed to provide executives with strategically substantial competitor information, data analysis, and insights about the market, development, and implementation of the effective marketing plan.
- The market is segmented and analyzed based on solutions, implemented across business functions, both internal and external entities, and across major
- The report covers the drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2018–2023).
- The report comprises an analysis of vendor profile, which includes business overview with key strategic imperatives including product launches, acquisitions, contracts, agreements, and partnerships in the market
- The report will also cover competitor comparison analysis based on various organic and inorganic strategies.