Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Construction 4.0 Market size was valued at USD 17.2 billion in 2024 and is expected to reach USD 143.09 billion by 2037, expanding at around 17.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of construction 4.0 is assessed at USD 19.79 billion.
The growth of the market can be attributed to the increasing urban population across the globe coupled with rise in commercial and residential activities and escalating demand to reduce human errors. According to the World Bank, 55.272 percent of the total population in the world belonged to urban areas in 2018, which rose up to 56.15 percent in the year 2020. Along with these, growing investments for infrastructural development in developing nations, and accelerating need for employee safety and automation in the construction industry are also expected to drive market growth in the forthcoming years. Furthermore, surge in advancements in technologies such as artificial intelligence, IoT, sensors and drones, is projected to offer abundant opportunities for the market growth in the near future.
Construction 4.0 Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Urban Population Worldwide
- Increasing Number of Construction and Residential Activities
Challenges
- Requirement of High Capital Investment
- Lack of Skilled Labor
Construction 4.0 Segmentation
The market is segmented by technology into IoT, industrial robots, artificial intelligence, and others, out of which, the IoT segment is anticipated to hold the largest share and witness the highest growth in the global construction 4.0 market on account of the high potential of IoT to reduce different types of accidents and its effectiveness to collect job site data in a more efficient and affordable way. Additionally, on the basis of solution, the segment for software is evaluated to observe a significant CAGR over the forecast period in view of the growing deployment of construction 4.0 software in developed economies as it helps to decrease schedule risk, save time, maintain accuracy and avoid repetitive work at construction sites.
Our in-depth analysis of the global construction 4.0 market includes the following segments
|
By Solution
|
|
|
By Technology |
|
|
By Application
|
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportConstruction 4.0 Industry - Regional Synopsis
On the basis of geographical analysis, the global construction 4.0 market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific industry is poised to dominate majority revenue share by 2037, on the back of increasing demand for construction 4.0 in emerging economies such as India, Vietnam and Indonesia, and rising government expenditure on infrastructural activities. In addition, growing number of projects for smart cities is also assessed to boost the market growth in the region. For instance, in India, more than 2000 projects worth 5 billion USD were completed under the smart city initiative of the country. About 4,500 projects amounting for about USD 20 billion are ongoing as of now. Moreover, the construction 4.0 market in North America is projected to acquire the largest share by the end of 2030, which can be ascribed to the high adoption of technologies in construction sector and strong presence of prominent market players in the region. Also, increasing adoption of industry 4.0 technologies amongst the organizations is also expected to contribute to the growth of the market in North America.
Companies Dominating the Construction 4.0 Landscape
- ABB Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Advanced Opto-Mechanical Systems and Technologies Inc.
- Hexagon AB
- Autodesk Inc.
- Mitsubishi Electric Corporation
- Hilti Corporation
- CalAmp Corporation
- Trimble, Inc.
- Oracle Corporation
- Topcon Corporation
In the News
Author Credits: Shweta Patidar
- Report ID: 3353
- Published Date: Dec 26, 2024
- Report Format: PDF, PPT
