What are the Benefits of IoT in the Construction Industry?
The Internet of Things (IoT) is dramatically changing the way the construction industry operates. There are now numerous opportunities where companies can adopt IoT technology to support construction safety, efficiency, and sustainability, almost to the point of making the impossible possible.
The combination of IoT with this high-speed connectivity can help to lower latency and create a higher bandwidth, which can be a real advantage in construction.
Experts predict that the IoT market share in construction will reach $16.8 billion by 2024.
What are the Benefits of IoT in the Construction Industry?
What are the Benefits of IoT for the Construction Industry?
IoT has assisted construction companies in addressing common workplace concerns, streamline workflows, improve responsiveness to changing market demands, and more.
Remember that the entire basis of the IoT is to create a common platform where multiple smart devices can interact with each other using a standard language which, in turn, can help generate crucial data. Companies can then make informed decisions based on this data.
Here, we will discuss three major pillars of the implementation of IoT in the construction industry.
Productivity
IoT technology can improve productivity by ensuring more efficiency and readiness. It reduces the workload for people, eliminates human error occurrences, and gives management opportunities to generate new ideas to improve product delivery and customer satisfaction.
IoT in the construction industry also fits the supply unit with sensors that can determine the quantity and location. Additionally, it can generate digital forms to automate and optimize daily tasks ranging from scheduling, inspections, and workflows for deliveries.
Safety and Security
IoT can also help overcome two of the biggest challenges of construction: safety and theft.
It’s simply not humanly possible to monitor a large construction site at all times, and subsequently, there is always the risk of theft or loss of equipment and material.
Companies can solve this problem by using IoT-enabled tags that are equipped with sensors to notify the current location of the materials or equipment. In other words, there is no need for the physical presence of a human being for supervision.
Plus, the technology also creates a digital real-time job site map, updating it with potential risks as they arise. Notifications will be created for instances where a particular floor has poor air quality or when a worker gets too close to a piece of machinery.
Maintenance
One of the largest expenditures for any construction company is power and fuel consumption. If these expenses aren’t managed actively, it can adversely impact the overall cost of the project.
IoT gives real-time information that lets the person in charge be aware of the latest status of every asset. From scheduling maintenance stops to turning off idle equipment – it enables an improved efficiency in the management and maintenance aspects.
It can also provide data that prevent problems from taking place, and notify the owners about decreasing stock, materials conditions like expiry and damage, the suitability of environmental conditions like humidity and temperature, and so on.
In fact, different types of sensors, like fuel sensors and load sensors, are being used in various IoT applications to smoothen condition-based maintenance processes.
The Internet of Things is one of the most exciting new innovations in construction technology. Consultants reckon it could have a global economic impact of nearly $1 trillion on worksites worldwide by 2025, which indicates it is likely to become an increasingly common feature in the industry. With the sheer variety of applications and some serious benefits, IoT in the construction industry is definitely one to watch.
In the next article, we are reviewing How is IoT Being Implemented in the Construction Industry.
