Artificial Intelligence (AI) in Construction Market: Summary
The Global Artificial Intelligence (AI) in Construction Market is projected to reach a value of USD 4823.12 million by 2027 at a CAGR of 35.1%.
The AI in construction is refers to the technology use in making building sites safer, reducing waste and improving the efficiency. Artificial Intelligence (AI) can helps to enhance the construction execution planning, the updating of construction sequences as well as the task management. Global artificial intelligence (AI) in construction market is growing at a rapid pace owing to rising demand for cloud-based solutions, and increasing adoption for digital platforms. However, shortage of skilled professionals are expected to hamper the growth of the market.
Artificial Intelligence (AI) in Construction Market: Market Dynamics
- Rising Demand for Cloud-Based Solutions
- There has been rising demand for cloud-based solutions for the development of AI in construction. This will minimize the operational and maintenance costs, some complexities, and scalability.
- The AI in construction solutions is being focuses on deployment of robust cloud-based solutions for their customers, as various companies has already started adopting the cloud-based deployment.
- The Artificial Intelligence applications is also being deployed in private clouds for the privacy and security issues.
- On June 2019, the Microsoft, had accelerate the smart building solutions with cloud, AI, and IoT.
- On April 2020 - Bentley Systems, Inc., had launched its ProjectWise 365 cloud service, and waiving subscription fees till September 30, 2020, to virtually connect infrastructure project participants forced to work from home.
- The cloud-based deployment is expected to grow at a higher growth during the forecast period is expect boost the growth of the market globally.
- Increasing Adoption for Digital Platforms
- The increasing adoption for the digital platform is also lead to enhance artificial intelligence in construction market growth. The growing demand the digital data has been significantly with the rising adoption of Building Information Systems (BIM), security sensors, as well as the machine telematics.
- The Artificial Intelligence (AI) is projected to be an enabler for the digitalization of construction material producers or distributors.
- This increasing adoption for the digital platforms or data is expected to influence the growth of the market in the forecast period.
- Rising Adoption Drones and Autonomous Vehicles
- Lesser R&D Investments in Technology
Artificial Intelligence (AI) in Construction Market: Key Segments
- The Artificial Intelligence (AI) in Construction Market is majorly segments into offering, stage, deployment mode, application, and technology and industry type.
- On the basis of offering, the market is bifurcated into solution and service.
- On the basis of stage, the market is sub segmented into pre-construction, construction-stage and post-construction.
- On the basis of deployment mode, the market is sub divided into cloud and on-premises.
- On the basis of application, the market is classified into to asset management, supply chain management, project management, risk management, schedule management, and others. The project management is projected to have a significant market growth among the application.
- On the basis of technology, the market has been segmented into machine learning and deep learning and natural language processing (NLP).
- On the basis of industry type, the market is segmented into residential, public infrastructure, heavy construction, and others. The heavy construction is being anticipated to have a major market growth among the industry types, with the growing numbers of accidents.
- On the basis of enterprises size, the market is divided into small & medium-sized enterprises (SMEs) and large enterprises.
Artificial Intelligence (AI) in Construction Market: Key Regions
On the basis of region, the market is divided into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North America accounted for the major market share owing to enhance purchasing power, as well as the continuous growing investments in automation. However, Asia Pacific is projected grow at the fastest growth rate with the growing investment for the infrastructure. Whereas, the growing initiative by the government in the region to create smart cities is also play as a key factor for the adoption for the market in the region.
Artificial Intelligence (AI) in Construction Market: Report Scope
The report on the artificial intelligence (AI) in construction market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
2020-2027 (2020 estimated year, forecast up to 2027)
Value (USD Million)
Offering, Stage, Deployment Mode, Application, Technology, Industry Type, and Enterprises
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- ALICE Technologies Inc (Company Overview, Financial Overview, Product Synopsis, Key Developments, SWOT Analysis, & Key Strategy)
- Aurora Computer Services Ltd
- Autodesk, Inc.
- eSUB Inc.
- IBM Corporation
- SAP SE
- Smartvid.io, Inc.
- Other Key Companies
Artificial Intelligence (AI) in Construction Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Artificial Intelligence (AI) in Construction Market, by Offering
Artificial Intelligence (AI) in Construction Market, by Stage
Artificial Intelligence (AI) in Construction Market, by Deployment Mode
Artificial Intelligence (AI) in Construction Market, by Application
- Asset Management
- Supply Chain Management
- Project Management
- Risk Management
- Schedule Management
Artificial Intelligence (AI) in Construction Market, by Technology
- Machine learning and deep learning
- Natural Language Processing (NLP)
Artificial Intelligence (AI) in Construction Market, by Industry Type
- Heavy Construction
- Public Infrastructure
Artificial Intelligence (AI) in Construction Market, by Enterprises Size
- Small & Medium-sized Enterprises (SMEs)
- Large Enterprises
Artificial Intelligence (AI) in Construction Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Artificial Intelligence (AI) In Construction Market Providers
- Artificial Intelligence (AI) In Construction Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Artificial Intelligence (AI) In Construction Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE ARTIFICIAL INTELLIGENCE (AI) IN CONSTRUCTION MARKET STUDY