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Research Nester published a report titled “Construction 4.0 Market : Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global construction 4.0 market in terms of market segmentation by solution, technology, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global construction 4.0 market is estimated to occupy a large revenue by growing at a CAGR of ~18% during the forecast period, i.e., 2022 – 2030, owing to the rising urban population around the world, and increasing number of commercial and residential activities. Apart from these, growing need for automation in the construction sector and escalating investment for infrastructural development in emerging economies are also expected to drive market growth in the upcoming years.
The global construction 4.0 market is segmented by solution, technology and application. Based on technology, the IoT segment is anticipated to grab the largest market share and witness the highest CAGR during the forecast period on the back of high potential of the technology for reducing accidents. Furthermore, IoT's effectiveness in collecting job site data in an efficient and affordable is also expected to further the growth of this market segment in the future.
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Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the increasing adoption of technologies in the construction sector the region. Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the future owing to the rising demand for construction 4.0 in developing countries in the region.
The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.
Increasing Urban Population Worldwide to Drive Market Growth
The rapid surge in industrialization has led to the creation of economic growth and new job opportunities. As the number of construction projects across the globe are increasing at a rapid pace, the demand for automation in this industry is also rising in order to save time, maintain accuracy and decrease schedule risk. This in turn is projected to boost market growth in the near future.
However, need of high capital investment and absence of skilled labor are expected to operate as key restraint to the growth of the global construction 4.0 market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global construction 4.0 market which includes company profiling of ABB Ltd., Advanced Opto-Mechanical Systems and Technologies Inc., Hexagon AB, Autodesk Inc., Mitsubishi Electric Corporation, Hilti Corporation, CalAmp Corporation, Trimble, Inc., Oracle Corporation, Topcon Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global construction 4.0 market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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