The Future is Now: How IoT Sensors Are Revolutionizing the Commercial Construction Industry

McKinsey’s reporting finds that construction is the least technologically developed industry, alongside agriculture and hunting. According to MGI’s digitization index, the U.S. construction comes second to last, and in Europe it is in last position on the index. Construction projects are notorious for being late and missing deadlines. With all that, it’s no surprise that the AEC sector is one of the industries most primed for change.

But help is on the way. New technology solutions and tools, such as IoT sensors and real-time data, present a real opportunity to improve productivity and operational efficiency. And indeed, today it seems this revolution is already taking place. IoT sensors transform construction job sites, providing real-time data on everything from remotely monitoring temperature and humidity to optimizing project schedules. This data is enabling contractors to improve efficiency, reduce waste, and enhance sustainability.

According to a recent report by MarketsandMarkets, the IoT in construction market is expected to double in size in 5 years’ time (from $12.3 billion in 2022 to $26.5 billion by 2027). This growth is being driven by several factors, including the increasing need for efficiency and productivity and the growing demand for sustainable work methods.

Why Modernization Is No Longer Optional

IoT technology is being used in a variety of ways in construction. With IoT tools and data, Managers can improve worksite visibility in real-time by deploying low-power sensors at every stage of a project. Real-time data allows contractors to:

·?????? Identify and alert problems early on and address them without delay.

·?????? Improve on-time project scheduling and coordination.

·?????? Optimize energy consumption during construction.

·?????? Enhance safety and compliance through environmental and air quality monitoring.

·?????? Automate the job site condition monitoring data for audits and project reports.

The Rise of the Informed Client and Demand of Real-time Monitoring

Construction project stakeholders and building owners are rapidly becoming knowledgeable about the benefits of real-time data. Clients and stakeholders are increasingly demanding real-time updates on construction progress, alerts on job site conditions, and other critical parameters. This data is essential for making informed decisions about the project, mitigating risks, and ensuring that the project is on track.

The commercial construction industry is a fiercely competitive one, where even the smallest advantage can make a difference. In this new era of real-time IoT data, contractors who embrace it will have a significant advantage over their competitors. Contractors who cannot provide real-time data may lose out on new projects to competitors, and they may also face increased scrutiny from clients and regulators.

Real-time monitoring is no longer a luxury; it is an essential necessity in the modern construction industry. In an industry fraught with variables and uncertainties, real-time data allows contractors to make better decisions, stop wasting time and operate more efficiently.

Sustainability: A Growing Imperative

The construction industry has a significant environmental impact, accounting for nearly 25% of greenhouse gas emissions globally, according to World Green Building Council (WGBC). However, with IoT solutions, that can monitor energy consumption and the environmental impact, the sector has an opportunity to improve redeeming itself by becoming more sustainable.

IoT sensors can be used to monitor and optimize energy consumption during the construction project. For example, during the curing & drying period of concrete structures and floor slabs, the use of dehumidifiers and heaters can be monitored and optimized to run only until the concrete’s target humidity and strength has been reached, which can cut the energy consumption in half during such concrete preparation period.

In addition, IoT sensors can be used to monitor air quality and dust levels for regulatory compliance. The performance of sustainable building materials and systems, such as solar panels, can be also monitored and this data can be used to optimize the performance of these systems for environmental benefits.

The Twin Pillars of Sustainable IoT

IoT-enabled real-time condition monitoring serves two crucial purposes in supporting sustainability:

·?????? Energy optimization: IoT sensors can be used to monitor and optimize energy consumption in buildings. This can lead to significant reductions in energy consumption and greenhouse gas emissions.

·?????? Reduced waste: IoT sensors can be used to monitor and optimize conditions remotely, without visiting the job site. Automated sensor monitoring does not require inspection experts to repeatedly drive long distances to make manual inspections and measurements. Instead, the real-time data is streamed to inspection experts’ desktops and cloud dashboards, for immediate decision making and reporting.

eGate’s Game-Changing IoT Solutions

eGate is a pioneer in developing impactful IoT solutions for the commercial construction industry. By developing the technology features always together with its general contractor partners, it secures the industry fit and adoption. The company's IoT data platform provides contractors with a comprehensive view of their job site conditions, allowing them to make timely, informed decisions and stay on schedule. eGate's solutions are also helping contractors to reduce their environmental impact and build more sustainable structures.

One of eGate's most groundbreaking solutions is eGate ePredict, a concrete drying time forecasting tool that leverages real-time sensor data from construction job sites. ePredict eliminates the guesswork from one of the construction industry's most significant bottlenecks – scheduling the freshly poured concrete’s drying time, which impacts the entire project schedule. This technological edge is increasingly becoming a differentiating factor in a saturated market, giving contractors equipped with eGate solutions a distinct advantage.

ePredict uses a variety of factors, including temperature, humidity inside the concrete and in ambient air, to predict the drying time of concrete. eGate has already collected over 500 million data points from construction job sites to support its prediction algorithms. The drying time information is essential for contractors when they need to schedule subsequent project tasks, such as installing flooring materials.

An Opportunity for VC Investors

The convergence of IoT and sustainability in the construction sector presents an enticing investment opportunity. A PwC report notes that 97% of venture capitalists weigh a company’s sustainability practices before investing. Companies like eGate offer a perfect blend to improve both profitability and responsibility, making them an attractive proposition for any forward-thinking investor.

Conclusion

The IoT revolution is just beginning in the commercial construction industry, but it has the potential to transform the way we build and operate buildings. By providing real-time data and insights, IoT sensors can help contractors to improve efficiency, reduce waste, and build more sustainable structures.

As technology continues to develop and become more affordable, we can expect to see IoT sensors become ubiquitous in the construction industry. This will lead to a more sustainable and efficiently built environment for everyone.

About eGate

eGate is an IOT technology company, specializing in wireless monitoring devices and real-time cloud analytics for the commercial construction industry. With its U.S. office in Boston, MA, and the global headquarters in Tampere, Finland, eGate’s mission is to help all stakeholders in the construction industry to build better and safer buildings around the world. The eGate prediction algorithm is the result of over 500 million data points that have been collected from job site concrete slab measurements over several years. To learn more about eGate IOT solutions, please visit: www.e-gate.io

REFRENCES:

MarketsandMarkets: IoT in Construction Market Forecast - https://www.marketsandmarkets.com/Market-Reports/iot-construction-market-214544022.html

Global Alliance for Buildings and Construction: Global Status Report - https://globalabc.org/resources/publications/2021-global-status-report-buildings-and-construction

PwC: Sustainability in Venture Capital - https://www.pwc.com/gx/en/services/sustainability/publications/overcoming-inertia-in-climate-tech-investing.html

Forbes: The Construction Industry is on the Verge of a Tech Revolution - https://www.forbes.com/sites/rhettpower/2022/09/21/the-construction-renaissance-is-upon-us/

The Guardian: How IoT is Transforming the Construction Industry - https://www.verizon.com/business/resources/articles/s/how-iot-and-big-data-are-transforming-the-construction-industry/

McKinsey & Company: The Future of Construction: A Seismic Shift in the Making - https://www.mckinsey.com/capabilities/operations/our-insights/reinventing-construction-through-a-productivity-revolution

eGate: ePredict Concrete Drying Time Forecasting Tool - https://www.dhirubhai.net/pulse/how-predict-concrete-slab-drying-time

USGBC: LEED Green Building Certification Program - https://www.usgbc.org/

Net Zero Carbon Buildings Commitment: ?https://worldgbc.org/thecommitment/

World Green Building Council (WGBC), Bringing Embodied Carbon Upfront: https://www.worldgbc.org/