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Big Data Analytics in Construction Market Trends

Report ID: GMI11356
Published Date: Sep 2024
Report Format: PDF

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Big Data Analytics in Construction Market Trends

The growing adoption of smart technologies in the construction industry is expected to drive the market growth. As the construction industry integrates advanced technologies such as IoT sensors, drones, and automated machinery, the volume of data generated from these smart systems increases. Big data analytics is essential for interpreting data, providing actionable insights to enhance project efficiency. Similarly, IoT sensors can monitor equipment performance and environmental conditions in real time, while drones can capture detailed aerial imagery of construction sites. By analyzing this data, construction firms can optimize operations, improve safety, and reduce costs.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of big data analytics in construction was worth over USD 8.4 billion in 2023 and is anticipated to record a CAGR of over 11% between 2024 and 2032, due to increasing demand for operational efficiency and cost reduction in the construction sector.

The solution segment held over 70% of the market share in 2023, driven by the increasing need for real-time monitoring in construction projects, in order to prevent costly delays, reduce risks, and optimize resource utilization.

North America big data analytics in construction market held around 30% revenue share in 2023, due to technological development, and emphasis on adopting smart technologies in construction practices.

Autodesk, Hexagon AB, IBM, Microsoft, Oracle, Procore, Sage, SAP SE, and Trimble among others.