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The adoption of IoT in the construction market is expected to increase among end-user to mitigate the risk and reduce the number of accidents in construction sites and eliminate the cost of construction.
IoT in construction comprises the use of internet connected sensors that are used by labors or placed around job sites. IoT in construction helps to collect various types of data about activity, conditions and performances on the construction site and send this details to a central dashboard where data is analyzed to help inform decision.
Traditionally, maximum internet connected devices have been mobile phones and computer. So, variety of sensors can now cheaply and easily be upgraded with a chip (like Sim card), hence the term IoT. The IoT devices can be connected to central database to monitor real time situation and it provides security, productivity, safety and cost reduction.
IoT in construction-based solutions can support the construction process in many ways. IoT can develop construction implementation planning, by updating the construction tasks, and sequences management while keeping all stakeholders continuously informed. Furthermore, IoT can also escalate the productivity within construction implementation itself.
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IoT in Construction Market: Key Drivers
IoT in construction industry is improving safe working practices for the construction sites workers. The wearable IoT devices have actual potential for upgrading safety on building sites. If all team on a job site wear a clip-on devices or wrist band, data about their activity and moment can be used to determine any risk behavior.
IoT in construction industry provides feedback information about under construction and completed sites. The sensors can monitor things like unusual vibrations of machine and notifies the user.
IoT in construction is helping to improve overall safety on job sites. The construction sites are equipped with IoT devices, cameras, and sensors that monitor many features of construction operations and inform the team whenever it senses possible safety hazards. This programmed process can be repeated every minute and log all unsafe events
Lack of limited awareness and high initial cost to implement and integrate the IoT in construction is expected to hamper the market.
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Impact of COVID-19 on the IoT in Construction Market
Increasing cases of COVID-19 across the globe are resulting in an economic slowdown. Developed countries are strongly affected by the pandemic. COVID-19 has a negative impact on IoT in the construction market. During COVID-19 many construction sites are closed, due to the complete lockdown situation. As a result, there has been a financial recession in the construction industry in almost all countries and has created unemployment.
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North America to Hold Major Share of the IoT in Construction Market
North America is the global leader in IoT in the construction market with the largest share mainly because of developed economies. Construction businesses in the North American region have made massive investments in the construction market, and numerous vendors have advanced to cater to the fast-growing market. Enormous growth is expected in the North American region during the forecast period.
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