Remote Construction Market

Digitization Creating Growth Opportunities

Organizations today are finding themselves engulfed in an increasingly complex world of networks. As data generated continues to rise in a staggering volumes, automation has become imperative for enterprises in order to optimize costs and scale of experiences they wish to create.

Construction sector companies are looking for solutions to manage applications, mobile devices, and a range of other collaborative tools to ensure seamless communication between teams across platforms, devices, and geographies. All this are looked upon with an intent of transforming the ways employees conduct their daily businesses.

The construction industry is shifting from a desktop-bound approach to a multi-disciplinary model. This change is steered by dynamic IT trends and the surging uptake of cloud-based solutions.

In the future, the construction sector as well is likely to be driven by highly virtualized and cloud-based environments. This change is inevitable and construction companies are centralizing their IT to accommodate the dynamic trends.

Urbanization at Core of Transition

Rapid urbanization has resulted in congested landscape, causing unprecedented climate change, water scarcity, soaring energy consumption, and various other economic and social concerns. According to the United Nations, the global urban population is expected to increase from 54% in 2015 to 70% by 2050.

The expansion of urban areas will translate into greater opportunities for construction businesses. Against this backdrop, experts also forecast the rising demand for remote construction services and solutions.

The surging urban population will have considerable impact on residential and commercial infrastructure. Governments are therefore posed with the challenge of managing the influx of new occupants, while improving living standards.

This will ultimately boost the adoption of digital transformation ecosystems, especially to meet social, financial, and environmental outcomes. Some of the leading companies are focusing on the novel technology also to ensure optimum utilization of available resources to offer a healthy lifestyle and superior connectivity.

Surging Adoption of Smart Devices

The surging ubiquity of smartphones, tablets, and various other smart devices has been compelling the construction sector to integrate digital technologies. This has become of key significant in order to meet the rising demand for effective remote operations and management.

Companies are leveraging novel technologies and smart solutions to offer holistic services to the entire ecosystem. The surging adoption of IoT solutions is creating impressive scope for the remote construction market growth. Various companies are even focusing on customizing construction management solutions as per client requirement.

Key Challenges

As the construction industry witnesses crippling impacts of the Coronavirus outbreak, a large number of companies are either compelled to shut down their operations or in best-case scenario, limit their activities.

Against this backdrop, remote working is stating its presence in the construction sector, leading many companies to bid adieu to set practices and instead adopt new technologies for working and communicating with their workforce.

Remote construction is a new reality but it poses significant challenges to companies around the world as they struggle to manage construction sites, while keeping their workforce connected.

For smaller companies investing in novel digital tools could be a problem. Even for larger enterprises training their ground-level task during the pandemic might spur significant challenges.

Region-wise Analysis

North America Remote Construction Market

North America offers abundant scope for the expansion of the remote construction market. The usage of remote management systems is considerably high among managers and supervisors in this region, making North America a significantly lucrative market for remote construction solutions.

Also, the extent of adoption of IoT enabled devices is significantly high across North America, which has been significantly contributing to the expansion of the market. Also, the presence of several leading players has been enabling growth in the region.

For instance, in May 2020 Autodesk Inc., announced the release of BIM 360 module in California, which enables construction teams to track and manage project assets through the entire building lifecycle – from design through handover – from one centralized location.

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Europe Remote Construction Market

Growth witnessed in the Europe market is expected to be catapulted by the surging investment in construction activities across the region. According to FMI, North America and Europe together account for half of the overall global market.

Through the course of the forecast period, growth witnessed in Europe is expected to remain strong. Post COVID-19, the construction sector in Europe is calling for a major overhaul. Besides taking measures to ensure health and safety of employees, companies are adopting latest technologies to support the construction supply chain.

This will create lucrative growth opportunities for the market in Europe. Also support from public authorities will give a big push to the market in the region.

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Asia Pacific Remote Construction Market

Asia Pacific’s bustling construction sector has taken a massive hit due to the COVID-19 crisis. Companies operating in this region have been adopting a plethora of strategies to emerge stronger in the coming years.

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They are moving fast and hard on productivity, reallocating resources, and taking bolder moves such as incorporating remote construction modules to better prepare themselves for unforeseen challenges in the future.

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Category-wise Insights

Adoption of Remote Control Solutions Growing

Based on component, the global market can be bifurcated into solutions and services. Of these, the solutions segment is witnessing considerably high demand. According to FMI, the trend is likely to continue through the course of the forecast period, enabling the solutions segment to retain its dominance.

Construction Management in Vogue

Based on application, while construction management accounts for the leading market share, growth witnessed in the remote management segment is expected to be higher. FMI in its recent study has forecast the segment to rise at 14.9% CAGR between 2020 and 2030.

Construction Sector will Continue to Fuel Demand

In terms of end-use industry, the global market can be segmented into construction, energy & utilities, mining, and others. Of these, the construction sector has clear dominance in the market and is expected to continue leading through the course of the forecast period.

Competitive Landscape

Remote construction vendors are focusing on partnerships with other players to expand their product portfolio and footprint. However, recent product launches and acquisitions are indicative of the fact that some of the companies are taking a step back from a heavily partner-reliant model towards a mixed partner and self-developed technology model.

For instance, in August 2020, Bureau Veritas, Sembcorp Marine and Nokia Corporation partnered and conducted a trial via a test-bedded remote surveys on a new-build vessel construction at Sembcorp Marine’s Tuas Boulevard Yard. The QC inspectors at remote monitoring center were equipped with rugged head-mounted cameras that enabled the surveyor to verify product quality and spot defects.

Some of the players competing in the remote construction market include:

• Oracle Corporation
• Autodesk Inc.
• Trimble Inc.
• Caterpillar Inc.
• Hitachi Ltd.
• Giatec Scientific, Inc.

The list is only indicative – full list of Remote Construction Market key players is available upon request.

Remote Construction Market Report: Scope

Key Questions Answered by the Report

• At what rate will remote construction market grow?

  According to Future Market Insights, the remote construction market will exhibit a CAGR of 14.2% between 2020 and 2030

• Which is the largest market for remote construction?

  North America and Europe together account for nearly half of the global remote construction market. Both regions are expected to stay lucrative through 2030

• Which are the top companies in remote construction market?

  Some of the leading companies operating in the market are Oracle Corporation, Autodesk Inc., Trimble Inc., Caterpillar Inc., Hitachi Ltd., Giatec Scientific, Inc., Kore Wireless, WorldSensing, CalAmp Corp.

• Which is the most lucrative segment in terms of application for remote construction?

  While construction management has dominance among application-based segments, remote management is expected to rise at a higher pace between 2020 and 2030

• Which is the largest end-use industry for remote construction?

  The construction industry holds clear dominance in the market and is forecast to continue leading through 2030

• What is the outlook on remote construction market?

  The penetration of cloud-based communications and solutions is surging globally. In turn it is creating lucrative scope for the expansion of the market. According to Future Market Insights, the demand for remote construction is poised to surge considerably in the coming years

Enquiry before Buying

• Is this research conducted by Future Market Insights?

  Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst

• What research methodology is followed by FMI?

  FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology

• Who are the respondents for primary research?

  FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

• What are the sources of secondary research?

  FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

• Is a sample of this report available for evaluation?

  Yes, you can request a sample and it will be sent to you through an email.

• How can I buy this report?

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Key Segments

Component

• Solution
• Services

Application

• Remote Management
• Construction Management
• Communication
• Others

End-use Industry

• Construction
• Energy & Utilities
• Mining

Regional Outlook

• North America (U.S., Canada)
• Latin America (Mexico, Brazil, Rest of LATAM)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)