The global demand for Artificial Intelligence (AI) In Construction Market is presumed to reach the market size of nearly USD 5803.91 MN by 2028 from USD 650.64 MN in 2021 with a CAGR of 36.7% under the study period 2022 - 2028.
Artificial intelligence is the capacity of a machine to carry out tasks and emulate human intelligence and behaviour. Artificial intelligence has had a considerable influence on the construction industry recently. Artificial intelligence is primarily employed during the pre-building phase, and it allows for the digital planning and execution of future construction models. It also aids in maintaining and monitoring the maintenance system and safety measures in the construction zone.
Market Dynamics
The need for safety precautions at building sites and increased demand for data integration and visual analytics are some factors propelling Artificial Intelligence (AI) In Construction market forward. The construction sector has benefited greatly from artificial intelligence in recent years, particularly during the planning and designing stages that provide increased capabilities for building information modelling and generative design. Additionally, significant advancements in safety, monitoring, and maintenance technologies that employ AI to forecast and forewarn about unfavourable circumstances rapidly expand the usage of AI-based technology in the construction sector. On the downside, a shortage of competent people could be a major obstacle for the market. Nonetheless, construction benefits from AI to tackle some of its most difficult problems, such as cost, labour shortages, safety concerns and schedule overruns.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Artificial Intelligence (AI) In Construction. The growth and trends of Artificial Intelligence (AI) In Construction industry provide a holistic approach to this study.
Market Segmentation
This section of the Artificial Intelligence (AI) In Construction market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Application
- Project Management
- Field Management
- Risk Management
- Schedule Management
By Industry Type
- Heavy Construction
- Institutional Commercials
- Residential
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Artificial Intelligence (AI) In Construction market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Artificial Intelligence (AI) In Construction Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Artificial Intelligence (AI) In Construction market include Building System Planning, Microsoft, IBM Corporation, Oracle, SAP, Alice Technologies, eSUB, Smartvid.io, Aurora Computer Services, Bentley Systems Inc., and Autodesk. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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