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Construction 4.0 Market Size
Construction 4.0 Market size was valued at USD 12.3 billion in 2022 and is estimated to register 16.9% CAGR from 2023 to 2032 owing to its ability to provide valuable insights for optimizing construction processes, improving safety, and enhancing decision-making. Construction 4.0 with its emphasis on automation, robotics, and digital tools, addresses these challenges by streamlining processes, reducing manual labor, and optimizing resource utilization. The need for increased productivity & efficiency has increased the adoption of Construction 4.0 practices.
The rapid advancements in digital technologies including IoT and AI in constriction have led to new possibilities in the construction industry. These technologies have become more accessible, affordable, and capable, allowing construction companies to integrate them into their operations. Such technological advancements create opportunities for construction firms to leverage digital tools and transform their practices, which can propel the industry growth.
Which are the major enterprises in the construction 4.0 industry?
Some of the leading construction 4.0 firms are ABB Ltd., Autodesk Inc., Hexagon AB, Hilti Corporation, Oracle Corporation, Topcon Corporation, Trimble, Inc., Microsoft Corporation, Bentley Systems, IBM Corporation, NVIDIA Corporation, SAP SE, Schneider Electric.
What is the worth of the construction 4.0 sector in North America?
North America held the largest industry share of over 30% in 2022 and is estimated to witness robust growth through 2032 owing to the rising technological advancements in the construction sector.
Why is construction 4.0 software gaining prominence?
Construction 4.0 industry size from the software segment reached USD 4.4 billion in 2022 and is poised to grow significantly from 2023 to 2032 attributed to the rapid adoption of digital technologies worldwide.
How big is the construction 4.0 market?
The market size of construction 4.0 was worth USD 12.3 billion in 2022 and is projected to witness 16.9% CAGR during 2023 to 2032 owing to the increasing need for optimizing construction processes, improving safety, and enhancing decision-making.