The global artificial intelligence in construction market size is expected to reach USD 16.96 billion by 2030, registering a CAGR of 26.9% during the forecast period. Artificial intelligence in building solutions is being adopted rapidly due to the increasing need for risk management and deployment of more safety measures at the job site. Specialized artificial intelligence solutions are trained on architecture images, which helps in predictive maintenance. These artificial intelligence solutions can review thousands of images and identify risk factors to provide insights into risk indicators at a scale that cannot be achieved by humans. Furthermore, artificial intelligence has become more predictive and can observe the activities taking place at job sites, based on which it can predict the results of these activities.
Also, artificial intelligence helps in predicting the cost overruns based on contract type, project size, and the competence level of project managers. Thus, artificial intelligence helps to reduce the production costs by providing real-time feedback on actual time and expenses spent on the job site. AI-enabled cameras are deployed on the job site to monitor real-time activities. Several factors, such as growing adoption of risk mitigation and management solutions, predictive maintenance, prevention of cost overruns, and AI-enabled post-construction solutions, have spurred the AI in construction market.
The Asia-Pacific regional market is expected to witness substantial growth over the forecast period. This is owing to the growing adoption of AI-enabled solutions and services by the builders in emerging economies. Mitigating the risks at job sites is one of the significant factors influencing the market’s growth positively as the industry has several risk factors. Artificial intelligence helps in providing predictive maintenance and better risk management. The industry is adopting artificial intelligence technology to obtain insights to increase productivity and ensure safety at job sites.
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Also, artificial intelligence helps in predicting the cost overruns based on contract type, project size, and the competence level of project managers. Thus, artificial intelligence helps to reduce the production costs by providing real-time feedback on actual time and expenses spent on the job site. AI-enabled cameras are deployed on the job site to monitor real-time activities. Several factors, such as growing adoption of risk mitigation and management solutions, predictive maintenance, prevention of cost overruns, and AI-enabled post-construction solutions, have spurred the AI in construction market.
The Asia-Pacific regional market is expected to witness substantial growth over the forecast period. This is owing to the growing adoption of AI-enabled solutions and services by the builders in emerging economies. Mitigating the risks at job sites is one of the significant factors influencing the market’s growth positively as the industry has several risk factors. Artificial intelligence helps in providing predictive maintenance and better risk management. The industry is adopting artificial intelligence technology to obtain insights to increase productivity and ensure safety at job sites.
Artificial Intelligence In Construction Market Report Highlights
- Considerable surge in deployment of project management and risk management solutions in the industry will create a massive potential for artificial intelligence solutions in the industry
- Several benefits of AI including prevention of cost overruns, generative designs for buildings, risk mitigation, project planning, increased productivity, and safety has significantly contributed to market growth
- Market players are focusing on providing advanced AI and big data in the industry, which offers advanced features, such as improved safety, post-construction solutions, budget management, and project planning
- Key market players are considering partnerships and acquisition of startups providing innovative products to expand their outreach in the market
The leading players in the Artificial Intelligence in Construction market include:
- Autodesk Inc.
- International Business Machines Corporation
- Microsoft
- Oracle
- SAP SE
- Trimble Inc.
- ALICE Technologies Inc.
- BuildingConnected
- The Access Group
- Doxel.
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
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- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
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This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Global Artificial Intelligence (AI) In Construction Market Variables, Trends, & Scope
Chapter 4. Global Artificial Intelligence (AI) In Construction Market: Offering Estimates & Trend Analysis
Chapter 5. Global Artificial Intelligence (AI) In Construction Market: Application Estimates & Trend Analysis
Chapter 6. Global Artificial Intelligence (AI) In Construction Market: Stage Estimates & Trend Analysis
Chapter 7. Global Artificial Intelligence (AI) In Construction Market: Deployment Estimates & Trend Analysis
Chapter 8. Global Artificial Intelligence (AI) In Construction Market: Industry Estimates & Trend Analysis
Chapter 9. Global Artificial Intelligence (AI) In Construction Market: Organization Size Estimates & Trend Analysis
Chapter 10. Global Artificial Intelligence (AI) In Construction Market: Regional Estimates & Trend Analysis
Chapter 11. Competitive Landscape
Companies Mentioned
The leading players in the Artificial Intelligence in Construction market include:- Autodesk Inc.
- International Business Machines Corporation
- Microsoft
- Oracle
- SAP SE
- Trimble Inc.
- ALICE Technologies Inc.
- BuildingConnected
- The Access Group
- Doxel.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 2.93 Billion |
| Forecasted Market Value ( USD | $ 16.96 Billion |
| Compound Annual Growth Rate | 26.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
