IOT In Construction Market COVID -19 Impact Analysis | Biggest Innovations and Future Technologies Caterpillar Inc., Autodesk, Inc., Trimble Inc., Oracle Corporation, KORE Wireless Group, Worldsensing, Giatec Scientific Inc. – 3w Market News Reports
Global IoT in Construction Market is valued approximately USD 7.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16.5% over the forecast period 2020-2027.
IoT in construction is extensively used in safety management, fleet management, predictive maintenance applications, and remote operations. Using a variety of IoT technologies, such as LIDAR (Light Detection and Ranging) and GNSS (Global Navigation Satellite System), machine control, automatically modifies heavy construction equipment to perfectly grade, drill or pile large areas. The IoT is mainly used in the construction sector to streamline processes, increase workers safety, and reduce waste, which leads to save time and money.