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Research Reports

Global construction 4.0 market to Garner $29.10 billion by 2027: Allied Market Research

As per the report published by Allied Market Research, the global construction 4.0 market is expected to reach $29.10 billion by 2027, registering a CAGR of 18.2% from 2020 to 2027. The report offers a comprehensive market overview, current trends, prime winning strategies, market forecast, key market players, drivers, opportunities, and restraints. Download Brochure: https://www.linkedin.com/feed/update/urn:li:activity:6850814348080762880Continue reading “Global construction 4.0 market to Garner $29.10 billion by 2027: Allied Market Research”

Published : 3 years ago, on

As per the report published by Allied Market Research, the global construction 4.0 market is expected to reach $29.10 billion by 2027, registering a CAGR of 18.2% from 2020 to 2027. The report offers a comprehensive market overview, current trends, prime winning strategies, market forecast, key market players, drivers, opportunities, and restraints.

Download Brochure: https://www.linkedin.com/feed/update/urn:li:activity:6850814348080762880

Priyanka Khandelwal, Lead Analyst, Construction and Manufacturing at Allied Market Research, stated, “The construction 4.0 market has observed significant growth over the past decade due to growth in the construction industry and technological development in construction technologies. Additionally, proper time management of construction sites by using IoT, BIM, and other technologies propels the growth of the construction 4.0 market, globally. However, lack of skilled staff and capital in emerging economies and expanded security threats in connected devices are expected to hamper the growth of the construction 4.0 market. Furthermore, hike in awareness of remote monitoring, IoT, and virtual reality in the construction industry in developing countries is predicted to provide lucrative opportunities for the growth of the construction 4.0 market.”

Covid-19 pandemic impact on the global construction 4.0 market:

  • Due to the Covid-19 pandemic and the subsequent lockdown, the construction projects were provisionally suspended across the world.
  • The prolonged lockdown resulted in a lack of labor force and raw materials. It affected the already begun construction processes.
  • As many countries lifted their lockdown regulations, the construction sector is expected to start full-capacity operations gradually.

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Rise in efficiency, improvement in productivity on construction sites, and increase in the demand for construction technologies are propelling the market growth. Additionally, growth in the construction industry and the need for proper time management practices on construction sites are the factors adding to the growth of the global construction 4.0 market.

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However, lack of skilled staff and capital in developing nations and rise in security threats in connected devices create restraints for the market to grow. Contrarily, increase in awareness about the construction 4.0 industry in developing countries is anticipated to open many doors of lucrative opportunities for the growth of the construction 4.0 market.

The report offers the detailed segmentation of the global construction 4.0 market on the basis of technology, solution, application, end-user, and region. 

Based on the solution, the hardware segment held the largest share in 2019, contributing more than two-fifths of the market. However, the services segment is expected to manifest the highest CAGR of 18.9% throughout the forecast period.

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Based on technology, the IoT segment held the largest share in 2019, contributing to more than three-fourths of the global construction 4.0 market. However, the artificial intelligence segment is proposed to exhibit the highest CAGR of 19.9% throughout the forecast period.

Based on region, North America held the largest share in 2019, contributing to more than two-fifths of the market. On the other hand, the global construction 4.0 market across Asia-Pacific is expected to portray the highest CAGR of 19.9% during the forecast period.

Key leading players of the global construction 4.0 market include ABB Ltd., Topcon Corporation, Opto-Mechanical Systems and Technologies Inc., Autodesk Inc., CalAmp Corporation, Mitsubishi Electric Corporation, Trimble, Inc., Hilti Corporation, Oracle Corporation, and Hexagon AB

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication's content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.

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