BRICS IoT in Construction Market (Component - Hardware, Software, and Services; Application - Asset Monitoring, Safety Management, Fleet Management, Predictive Maintenance, and Others; End Users - Residential, and Commercial): Industry Analysis, Trends, Size, Share and Forecasts to 2027

BRICS IoT in Construction Market (Component - Hardware, Software, and Services; Application - Asset Monitoring, Safety Management, Fleet Management, Predictive Maintenance, and Others; End Users - Residential, and Commercial): Industry Analysis, Trends, Size, Share and Forecasts to 2027

Report Code: BRICS019 Region: BRICS Published: November, 2021

A recent report published by Infinium Global Research on IoT in construction market provides in-depth analysis of segments and sub-segments in the BRICS as well as regional IoT in construction market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS and regional IoT in construction market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of BRICS IoT in construction market. According to the report, the BRICS IoT in construction market is projected to grow at a CAGR of 16% over the forecast period of 2021-2027.

Market Insight

A large part of the economy in the BRICS is attributed to the construction industry. The industry is one of the largest, and growing at a rapid pace. Construction companies are adopting various modern technologies to boost their revenue. Technologies such as AI, IoT, and Big Data are adopted by the companies to address issues in the construction industry such as inefficiencies and low productivity. The emergence of IoT technology has transformed the construction industry over the past few years. IoT is used in the construction industry for applications such as asset monitoring, safety management, fleet management, predictive maintenance, and others. IoT helps in managing operational costs, improving productivity, and enhancing project management efficiencies. Various activities including plastering, bricklaying, surveying, construction site management, asset tracking, worker tracking, and risk management are augmented with the help of IoT in construction.

The COVID-19 pandemic had a serious impact on the construction industry across BRICS. The governments in BRICS implemented stringent lockdown orders that compelled businesses to halt or shut down their activities. Many ongoing construction sites were abandoned and future projects were postponed over the period of a pandemic. Moreover, problems such as shortage of labor, and disrupted supply chains affected the construction industry over the period of pandemics. These issues hindered the revenues of the industry and lowered the spending capacities of the construction companies. Thus, the demand and sale of IoT solutions for construction plunged considerably over the pandemic period. Nevertheless, the market is anticipated to get back to its original state over the long term, as the construction projects restart post-covid.

The issues witnessed by the construction companies including lower labor productivity and the shortage of labor are majorly driving the market. Use of IoT and automation in construction assists in reducing human efforts, construction cost, and project time period. This, in turn, boosts the productivity of construction companies, improving their revenues. Moreover, the growing number of construction sites across the BRICS countries due to the rise in urbanization is further augmenting the growth of the market. The increasing urban population leads to the expansion of the cities by constructing buildings on their outskirts. However, the high initial cost of IoT solutions used in the construction industry is expected to majorly hinder the growth of IoT in the construction market. Nevertheless, the integration of advanced technologies such as AI and 5G in construction equipment is likely to propel the market in the future.

In terms of country, China accounted for the highest revenue in the BRICS IoT in the construction market. China dominated the BRICS IoT in the construction market and is expected to keep the dominant position over the forecast period. The dominance of China is majorly driven by the rise in the adoption of technically advanced products among the end-users. Moreover, growing commercialization and the progress in the construction industry in China further boost the growth of the IoT in the construction market in the country. Additionally, the India IoT in the construction market is anticipated to grow at the highest CAGR over the forecast period. The integration of IoT technology is expected to increase in India over the next few years due to the entry of several OEMs. Furthermore, the other countries in BRICS including Russia, Brazil, and South Africa are creating higher demand for the construction and IoT in construction.

Segment Covered

The report on BRICS IoT in construction market covers segments such as component, application, and end users. On the basis of component, the sub-markets include hardware, software, and services. On the basis of application, the sub-markets include asset monitoring, safety management, fleet management, predictive maintenance, and others. On the basis of end users, the sub-markets include residential, and commercial.

Companies Profiled:

The report provides profiles of the companies in the market such as Trimble Inc., Auriga, Inc., Autodesk Asia Pte., Ltd., KORE Wireless Group, Topcon Positioning Systems Moscow, Hilti (China) Ltd., Autodesk India Pvt. Ltd., Sigfox Russia (Energo Capital LLC), Hitachi Construction Machinery (China) Co., Ltd., and WND Group.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of IoT in construction market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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