Digital Transformation on the Building and Construction Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The digital transformation on the building and construction market is anticipated to grow at a significant CAGR of 18.2% during the forecast period (2022-2028). The biggest motivator for digital adoption in the construction industry is the requirement to increase efficiency while minimizing project overruns and reliance on unskilled labor. The industry is undergoing transformative changes as a result of the convergence of new megatrends such as urbanization, connectivity & convergence, smart is the new green, artificial intelligence, and other societal trends. In the end, the building and construction industry will be forced to embrace the digital revolution. For instance, in 2020 At the China Electrical Industry Development Summit, the ABB Ability EDCS for Intelligent Hospitals solution, which was named China Excellent Solution in Electrical Industry at the event, can assist hospitals in fully implementing a strong and stable power supply and distribution system, as well as achieving intelligent operation, maintenance, and management. The solution increases equipment, system, staff, and resource management efficiency by 90%, improves power supply continuity and electrical safety by 90%, increases operation and maintenance efficiency by 40%, and reduces electricity expenditures by 15%.

Additionally, with the increase in the investment in building and construction all across the globe arising the requirement for abetter process to do the job. As big data and automation is playing a crucial role in each sector and enhancing their results, it is must be required to apply big data to get unleash the potential of the building and construction market.

Some major players in the digital transformation on the building and construction market includeABB Ltd., Nemetschek SE, Nova Group, Inc., StoneCycling B.V., and Leica Geosystems AG, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers andacquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market.

Nemetschek SE offers market-leading software solutions for the entire AEC/O lifecycle. Cobundu, a smart building technology platform by Spacewell, enables customers to enhance comfort, space, and resource usage in real-time. Its intuitive interaction and personalized help appeal to building users. Building managers, occupiers, and service providers laud it for delivering a quick return on investment (ROI) through greater efficiencies and data-driven insights.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Technology
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- ABB Ltd., Nemetschek SE, Nova Group, Inc., StoneCycling B.V., Leica Geosystems AG, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Digital Transformation on the Building and Construction Market Report by Segment

By Technology

• Cloud Computing
• Big Data and Analytics
• Mobility/Social Media
• Cybersecurity
• AI
• IoT

By Application

• Commercial Construction
• Residential Construction
• Industrial Construction
• Infrastructure (Transportation) Construction
• Energy and Utilities Construction