Construction 4.0 Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Construction 4.0 Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • July 2022 •
  • 145 pages •
  • Report ID: 6293333 •
  • Format: PDF
The global construction 4.0 market reached a value of US$ 11.88 Billion in 2021. Looking forward, the analyst expects the market to reach a value of US$ 30.54 Billion by 2027, exhibiting a CAGR of 16.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Construction 4.0 is a subset of industry 4.0 comprising interconnected technologies that digitize, automate and integrate the construction process throughout the value chain. It relies on the internet of things (IoT), digital twin, additive manufacturing, cloud computing, cyber-physical systems (CPS), and building information modeling (BIM). It helps lower energy use, develop 3D models that avoid inefficiencies and delays in projects, and reduce waste materials and carbon emissions during construction. It also minimizes security risks of workers through augmented reality (AR) and virtual reality (VR) solutions.

Construction 4.0 Market Trends:
At present, there is a rise in the utilization of artificial intelligence (AI) in the construction industry across the globe. This, along with the escalating need for new technologies in bricklaying, plastering, surveying, site and risk management, and worker and asset tracking, represents one of the key factors driving the market. Moreover, construction drones are used for security, inspection and monitoring of construction activities around the world. In addition, waste optimization and proper time and resource management in the construction industry are propelling the growth of the market. Besides this, the growing adoption of industrial 4.0 technologies in construction activities to enhance remote monitoring and avoid human errors, are contributing to the growth of the market. Additionally, there is an increase in the construction of new roads and highways, especially in developing nations, which is offering lucrative growth opportunities to industry investors and end-users. Other growth-inducing factors are rapid digitization and the rising urban population worldwide. Furthermore, key market players are focusing on partnerships, acquisitions, and product launches to improve products and services, which is projected to strengthen the growth of the market.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global construction 4.0 market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on 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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Autodesk Inc, Brickeye, CalAmp Corp., Hexagon AB, Hilti Corporation, Mitsubishi Electric Corporation, Oracle Corporation, Topcon Corporation and Trimble Inc.



Key Questions Answered in This Report:

How has the global construction 4.0 market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global construction 4.0 market?
What are the key regional markets?
What is the breakup of the market based on the solution?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global construction 4.0 market and who are the key players?
What is the degree of competition in the industry?