The fourth industrial revolution (4IR) can offer significant benefits to the construction sector, improving productivity, efficiency, collaborative efforts, and product quality while promoting safety and sustainability. However, research on the application of 4IR technologies in construction is scarce in developing countries. It is crucial to understand the ability of construction companies to adopt new technologies and identify factors influencing the success of technology implementation. In this study, a questionnaire-based survey was conducted with construction professionals to evaluate the level of technological development of the construction market in an emerging economy, assess the potential for innovation implementation, and identify factors that might influence technological development. Although respondents recognized the importance of digital transformation, the results showed that most innovations are in the early stages of implementation in the construction sector, particularly technologies that are essential for the consolidation of the 4IR. Understanding the factors underlying this reality can support the development of strategies to foster innovation and harness the advantages of the 4IR in the construction industry in developing countries.