The revolutionary impact of Internet of Things (IoT) improvements on the construction enterprise is carefully tested on this extensive research, with a focus on cost-cutting strategies. Examining a wide range of IoT programs from the predictive repair of equipment to the actual-time monitoring of building materials the study highlights how those packages can appreciably lessen operating charges. This inquiry identifies key areas wherein IoT technology are expected to sell cost-saving measures by utilizing a thorough evaluation of relevant literature along with a robust method that includes case research and empirical records evaluation. Using 12 records points and a aggregate of documentation evaluation and interviews, this examine assesses the impact of IoT technology on constructing charges. It offers insights into how IoT adoption in creation might be financially viable with the aid of highlighting the way it influences fee dynamics and undertaking control. The observe concludes with the aid of dropping mild at the broader implications of IoT adoption inside the construction enterprise and emphasizing how important it is to promoting a sustainable environment and strengthening the competitive fringe of companies on this zone. The present investigation not only emphasizes the economic blessings of implementing IoT, but additionally indicates its capability to convert conventional building methods by way of facilitating the improvement of greater reasonably priced, efficient, and environmentally friendly venture execution strategies.
Keywords
IoT in Construction, Cost Reduction Strategies, Construction Efficiency, Predictive Maintenance, Real-time Monitoring, Resource Optimization, Sustainable Construction Practices, Construction Project Management
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Amiya Bhaumik
Amiya Bhaumik
Department of Business and Accountancy, Lincoln University College, Kota Bharu, Kelantan, Malaysia.
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Cite this article
Deepak Tulsiram Patil and Amiya Bhaumik, “IoT Innovations as a Strategy for Minimizing Construction Expenses", pp. 349-359, April 2024. doi: 10.53759/7669/jmc202404033.
