An investigation of potential business and technology opportunities of IoT digital transformation in construction industry

Abstract

The Construction Industry, unlike many other industries, has struggled to keep up pace with the adaption of evolving IoT ecosystem. The industry has been slow to the digital technological advancements in general and IoT advancements in particular. As a result, the Construction Industry has not been able to address the business pain points in the same effective manner as other industries who have embraced technological advances. The inventory management, safety and compliance regulations, and employee safety have been areas of concern since long and have by far remained unaddressed. This thesis analyzes the commercial potential of the loT Digital Transformation in the Construction Industry. It evaluates the business and technological challenges in integrating the existing systems in IoT and emerging cloud infrastructure. It further proposes solutions on how to capitalize on the emerging technologies to address the existing industry pain points and save on operating costs thus generate revenue. The thesis investigates the various stakeholders needs and their reluctance to adapt the technological advancements, the pain points of industry that can be addressed by IoT and Cloud Integration solutions, and the several potential mechanisms and proposed solutions to address the areas of concern. IoT and Cloud integration could be a potential solution to address many prevalent Industry problems of revenue loss, safety and regulatory violations and resulting accidents arising of poor asset tracking, inefficient employee clock-ins/clock-outs, and employee tracking.