The Remote Construction Market is anticipated to reach US$ 853.2 Mn in 2022 and grow at a CAGR of 14.3% to US$ 2.5 Bn by the end of 2030. A growing number of businesses are adopting cutting-edge technology like artificial intelligence (AI) and machine learning to assess project-specific data and determine whether or not other possible disruptions may occur. The market for remote construction is anticipated to expand at a remarkable rate, propelled by the rapidly increasing adoption of cutting-edge technology.
In addition to helping businesses analyze stock levels, schedules, and weather, remote construction technology also enables them to avoid making the same mistakes they did on earlier projects. Remote construction solutions are increasingly in demand as businesses strive to save costs associated with every project and demand for precise insights rises.
In addition to changing the way construction businesses carry out projects, artificial intelligence and machine learning are also expected to significantly improve the day-to-day working circumstances for workers who are employed on-site.
Many businesses have recognized the promise of contemporary technologies and have been open about the process improvements they noticed. For instance, Orange Business Services bought Basefarm Holding AS, a provider of cloud-based infrastructure and services, in August 2018 after seeing the potential of data exploitation.
Orange Business Services was able to quicken its growth in artificial intelligence, big data, and cloud computing through this acquisition. The FMI research provides unique insights into the remote construction sector.
Some of the key takeaways from the report are highlighted below:
- Based on application, the remote management segment is forecast to rise by 4.0x of its current market value by the end of 2030
- The demand for remote construction tools and software is poised to surge exponentially, compelling market players to focus on better usage of analytics for efficient decision-making
- Among end-use industries, the construction sector is forecast to remain dominant through the course of the forecast period
- While North America and Europe enjoy dominance, the East Asia market for remote construction is expected to surge at an impressive 17% CAGR between 2020 and 2030
COVID-19 Impact Analysis
The huge COVID-19 epidemic has highlighted some incredibly valuable experiences. For example, it has highlighted how important it is to be able to work with any data from any device at any time and from any location.
Consequently, there are several benefits to working on a cloud-based remote building solution with remote accessibility. The COVID-19 outbreak has had a significant negative impact on the construction industry. Therefore, remote working has become a go-to tactic for businesses to carry on operations despite limitations imposed globally.
Companies have prepared the stage for long-term improvements within the industry by digitizing processes and systems. The use of remote construction technologies is encouraged by governments and other international organizations as a novel and inventive technique to guarantee worker safety and trouble-free operations.
Who is winning?
To obtain a competitive edge, businesses in the remote construction sector are presently concentrating on product launches and strategic alliances. Oracle Corporation, Autodesk Inc., Trimble Inc., Caterpillar Inc., Hitachi Ltd., Giatec Scientific, Inc., Kore Wireless, WorldSensing, and CalAmp Corp. are a few of the market’s top competitors.
Remote Construction Industry Survey
Remote Construction Market by Component:
- Remote Construction Solutions
- Remote Construction Services
Remote Construction Market by Application:
- Remote Management
- Construction Management
Remote Construction Market by End-use Industry:
- Energy & Utilities
Remote Construction Market by Region:
- North America Remote Construction Market
- Latin America Remote Construction Market
- Europe Remote Construction Market
- East Asia Remote Construction Market
- South Asia & Pacific Remote Construction Market
- the Middle East & Africa (MEA) Remote Construction Market
More Valuable Insights on Remote Construction Market
In its latest report, Future Market Insights offers an unbiased analysis of the global remote construction market, providing historical data for the period 2015-2019 and forecast statistics for the period 2022-2030.