The global construction industry experienced a 61% drop in company filings mentions of internet of things in Q3 2022 compared with the previous quarter, with the highest share accounted for by Larsen & Toubro with 29% year-on-year increase, according to GlobalData’s analysis of over 274 construction company filings.
Notably, internet of things was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of connectivity and big data, according to GlobalData’s whitepaper on Internet of Things in Construction – Filings Trends in Q3 2022.
Of the 50 leading companies in the construction industry, Larsen & Toubro had the greatest increase in references for internet of things in Q3 2022, compared with the previous quarter. GlobalData identified 40 internet of things-related sentences in the company's filings - 15% of all sentences - and an increase of 1900% in Q3 2022 compared with Q2 2022. AvalonBay Communities’s mentions of internet of things rose by 100% to 12 and UltraTech Cement’s by 100% to 11.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for internet of things in Q3 2022 was 101.