Construction 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.
