Construction 4.0 Market Size

Construction 4.0 Market size was valued at USD 14.61 billion in 2023 and is expected to exceed USD 121.55 billion by 2036, expanding at over 17.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of construction 4.0 is evaluated at USD 16.68 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.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of construction 4.0 is evaluated at USD 16.68 billion.

Construction 4.0 Market size was valued at USD 14.61 billion in 2023 and is expected to exceed USD 121.55 billion by 2036, expanding at over 17.7% CAGR during the forecast period i.e., between 2024-2036. The market growth is driven by growing urban population worldwide and increasing number of construction and residential activities.

Asia Pacific is expected to dominate majority revenue share by 2036, 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.

The major players in the market are ABB Ltd., Advanced Opto-Mechanical Systems and Technologies Inc., Hexagon AB, Autodesk Inc., and others.

Construction 4.0 Market Size