Building Code Compliance Market Is Estimated To High Growth
The building code compliance market is estimated to be valued at US$ 8.16 Bn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Building code compliance refers to a set of regulations for construction projects and renovations to ensure safety. These codes outline standards for building construction materials, fire prevention requirements, structural integrity, heating and ventilation systems among others. With growth in construction activities across commercial and residential sectors globally, demand for building code compliance services is witnessing steady rise.
Market Dynamics:
Increase in construction activities - Rising urbanization and population are driving growth in construction sectors globally. Countries worldwide are undertaking large infrastructure projects which requires adherence to building safety standards. This is creating significant opportunities for building code compliance service providers.
Emergence of digitalization - Market players are increasingly adopting technologies like Artificial Intelligence, Internet of Things and cloud to simplify compliance checking process. Digital tools allow remote inspection and automated detection of code violations. This is improving efficiency while reducing costs. Growing focus on sustainability is also driving implementation of smart building codes and adoption of green building standards.
Read More : https://www.zupyak.com/p/3896629/t/building-code-compliance-market-contributing-large-share
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