Market Overview:
The global artificial intelligence (AI) in construction market is expected to grow from USD 1.02 Billion in 2018 to USD 4.06 Billion by 2030, at a CAGR of 18.5% during the forecast period. The growth of the market can be attributed to the increasing demand for AI-enabled construction solutions and services across the globe. Moreover, factors such as growing urbanization and rising disposable income are also contributing to the growth of this market. However, lack of awareness about AI-enabled construction solutions and services among end users is restraining the growth of this market to some extent. The global artificial intelligence (AI) in construction market has been segmented on the basis of type, application, and region. On the basis of type,the global AI in constructionmarket has been segmented into solutionand service .
 in Construction Industry Outlook.svg)
Product Definition:
Artificial intelligence (AI) is a term for technology that can make decisions on its own, or with limited guidance from humans. AI is important in construction because it can help manage projects, schedule workers, and estimate costs.
Solution:
Solution is a software system or application that provides solutions to construction industry players. It helps them automate their processes and make better decisions which in turn increases profitability. AI in Construction offers numerous opportunities for solution providers as it enhances the capabilities of construction companies by streamlining data, reducing costs, increasing productivity and making right decisions at the right time.
Service:
Service is a way to interact with the system or infrastructure. It can be in the form of maintenance, repair, monitoring, consulting and other value-added services. In Artificial Intelligence (AI) for construction market it means providing solutions related to service management using chatbots or any other type of virtual agent technology that helps customers get all necessary information from start to end process regarding home improvement project or even car repair.
Application Insights:
The project management segment dominated the market in 2017 and is expected to grow at a CAGR of XX% over the forecast period. The growth can be attributed to an increase in demand for smart solutions, such as pre-construction planning, design & construction management, post-construction monitoring and maintenance services for projects worldwide.
The risk management application is anticipated to witness significant growth over the forecast period owing to its wide applications across various industries such as healthcare, banking and financial services, manufacturing etc., which require effective risk assessment techniques for decision making processes. Moreover, increasing R&D activities by major players are resulting in development of advanced AI tools that help them manage risks more efficiently thereby driving the demand globally.
Regional Analysis:
The market in North America is expected to grow at a significant rate over the forecast period. The growth can be attributed to increasing investments in construction AI startups and growing adoption of automation across various industries. For instance, In 2017, Trimble Inc., a provider of global positioning systems (GPS) technology, acquired Sungevity Holdings Inc., an American solar energy company for around USD X billion. This acquisition will help the GPS provider gain access to building information management (BIM) and advanced analytics technologies that are anticipated to accelerate innovation across its products and solutions portfolio.
In Asia Pacific, demand for artificial intelligence-based services is rapidly growing owing to increased spending on infrastructure development activities coupled with rising digitization projects across countries such as China and India. Moreover, increasing government initiatives towards smart cities initiative are also driving regional market growth over the forecast period.
Growth Factors:
- Increased demand for AI-enabled construction management software to optimize construction processes and improve project outcomes.
- Growing use of drones, sensors, and other advanced technologies to collect data for analysis and decision-making in construction projects.
- Proliferation of Construction 4.0 (or Industry 4.0) concepts that rely on AI-based automation and data exchange between different machines/devices on the construction site.
- Advances in machine learning algorithms that can enable more accurate predictions about the performance of building components and systems under various conditions5 Increased demand from developing countries for innovative solutions to address their unique infrastructure needs
Scope Of The Report
Report Attributes
Report Details
Report Title
Artificial Intelligence (AI) in Construction Market Research Report
By Type
Solution, Service
By Application
Project Management, Field Management, Risk Management, Schedule Management, Other
By Companies
Autodesk, IBM, Microsoft, Oracle, SAP
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
218
Number of Tables & Figures
153
Customization Available
Yes, the report can be customized as per your need.
Global Artificial Intelligence (AI) in Construction Market Report Segments:
The global Artificial Intelligence (AI) in Construction market is segmented on the basis of:
Types
Solution, Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Project Management, Field Management, Risk Management, Schedule Management, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Autodesk
- IBM
- Microsoft
- Oracle
- SAP
 in Construction Market Overview.svg)
Highlights of The Artificial Intelligence (AI) in Construction Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Solution
- Service
- By Application:
- Project Management
- Field Management
- Risk Management
- Schedule Management
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Artificial Intelligence (AI) in Construction Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 in Construction Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Artificial intelligence (AI) is a subset of machine learning that uses algorithms to make decisions based on data. In construction, AI can be used to automate tasks and improve efficiency.
Some of the major players in the artificial intelligence (ai) in construction market are Autodesk, IBM, Microsoft, Oracle, SAP.
The artificial intelligence (ai) in construction market is expected to register a CAGR of 18.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Artificial Intelligence (AI) in Construction Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Artificial Intelligence (AI) in Construction Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Artificial Intelligence (AI) in Construction Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Artificial Intelligence (AI) in Construction Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Artificial Intelligence (AI) in Construction Market Size & Forecast, 2020-2028
4.5.1 Artificial Intelligence (AI) in Construction Market Size and Y-o-Y Growth
4.5.2 Artificial Intelligence (AI) in Construction Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Solution
5.2.2 Service
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Project Management
6.2.2 Field Management
6.2.3 Risk Management
6.2.4 Schedule Management
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Artificial Intelligence (AI) in Construction Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Artificial Intelligence (AI) in Construction Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Solution
9.6.2 Service
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Project Management
9.10.2 Field Management
9.10.3 Risk Management
9.10.4 Schedule Management
9.10.5 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Solution
10.6.2 Service
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Project Management
10.10.2 Field Management
10.10.3 Risk Management
10.10.4 Schedule Management
10.10.5 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Solution
11.6.2 Service
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Project Management
11.10.2 Field Management
11.10.3 Risk Management
11.10.4 Schedule Management
11.10.5 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Solution
12.6.2 Service
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Project Management
12.10.2 Field Management
12.10.3 Risk Management
12.10.4 Schedule Management
12.10.5 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Solution
13.6.2 Service
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Project Management
13.10.2 Field Management
13.10.3 Risk Management
13.10.4 Schedule Management
13.10.5 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Artificial Intelligence (AI) in Construction Market: Competitive Dashboard
14.2 Global Artificial Intelligence (AI) in Construction Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Autodesk
14.3.2 IBM
14.3.3 Microsoft
14.3.4 Oracle
14.3.5 SAP
