The Remote Construction Market is anticipated to be valued at US$ 853.2 million in 2022 and to grow at a CAGR of 14.3 percent to reach US$ 2.5 billion 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.
| Remote Construction Market Size (2022) | US$ 853.2 Mn |
| Sales Forecast (2030) | US$ 2.5 Bn |
| Global Market Growth Rate (2022 to 2030) | 14.3% CAGR |
| Share of Top 5 Market Players | 50% |
In addition to helping businesses assess supply levels, timelines, 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.
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Artificial intelligence and machine learning are not only transforming the way construction companies are executing projects but are intended to create a real impact on daily working conditions for on-site workers.
Several companies have realized the potential of modern technologies and have been forthright in acknowledging process improvements they experienced. For instance in August 2018, Orange Business Services, recognized the potential for leveraging data and thus acquired Basefarm Holding AS, player in cloud-based infrastructure and services.
Through this acquisition Orange Business Services was able to accelerate its growth in cloud computing, Big Data, and artificial intelligence. FMI’s report offers exclusive insights into the market for remote construction.
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 unprecedented COVID-19 outbreak has brought some distinctly valuable experienced under the spotlight. For instance, it has revealed the significance of having the capability to work with any data from any device at any time and from anywhere.
Thus working on a cloud-based remote construction solution with remote accessibility has several advantages. The construction sector has taken a massive hit due to the outbreak of COVID-19. Remote working has therefore emerged as a go-to strategy for companies to continue operations despite restrictions enforced across the world.
By digitizing processes and systems, companies have paved the way for long-term changes within the sector. Governments and various international authorities are supporting the implementation of remote construction technologies as an innovative and creative way of ensuring employee safety and hindrance-free operations.
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Who is winning?
Companies operating in the remote construction market are currently focusing on product launches and strategic collaborations to gain a competitive advantage. Some of the leading players in the market are Oracle Corporation, Autodesk Inc., Trimble Inc., Caterpillar Inc., Hitachi Ltd., Giatec Scientific, Inc., Kore Wireless, WorldSensing, and CalAmp Corp., among others.
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 a period of 2015-2019 and forecast statistics for the period 2022-2030.
Remote Construction Industry Survey
Remote Construction Market by Component:
- Remote Construction Solutions
- Remote Construction Services
Remote Construction Market by Application:
- Remote Management
- Construction Management
- Communications
- Others
Remote Construction Market by End-use Industry:
- Construction
- Energy & Utilities
- Mining
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
- Middle East & Africa (MEA) Remote Construction Market
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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