Artificial Intelligence (AI) in Construction Market by Component (Solution, Service) by Stage (Pre-Construction, Construction-Stage), by Deployment Mode (Cloud, On-Premises) by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)

Artificial Intelligence (AI) in Construction Market - Global Industry Analysis and Forecast 2020 to 2027

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

Artificial Intelligence (AI) in Construction Market: Market Dynamics

Market Driver:

  • 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

Market Restraint:

  • 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

AI Construction

 

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.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2019-2027

Historical Year

2018

Base Year

2019

Forecasted Period

2020-2027 (2020 estimated year, forecast up to 2027)

Measured Units

Value (USD Million)

Segments Included

Offering, Stage, Deployment Mode, Application, Technology, Industry Type, and Enterprises

Regional Coverage

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.
  • Darktrace
  • eSUB Inc.
  • IBM Corporation
  • Microsoft
  • Oracle
  • 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

  • Solution
  • Service

Artificial Intelligence (AI) in Construction Market, by Stage

  • Pre-Construction
  • Construction-Stage
  • Post-Construction

Artificial Intelligence (AI) in Construction Market, by Deployment Mode

  • Cloud
  • On-Premises

Artificial Intelligence (AI) in Construction Market, by Application

  • Asset Management
  • Supply Chain Management
  • Project Management
  • Risk Management
  • Schedule Management
  • Others

 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
  • Residential
  • Public Infrastructure
  • Others

 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
    • US
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • 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?

Report Audience

  • 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

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Rising Demand for Cloud-Based Solutions
      2. Increasing Adoption for Digital Platforms
    3. Restraint
      1. Less R&D Investments
    4. Opportunities
      1. Rising Adoption Drones and Autonomous Vehicles
      2. Increasing Adoption for Industrial Internet of Things (IIoT)
    5. Challenges
      1. Shortage of Skilled Professionals
  5. Market Factor Analysis
    1. Porters Five Forces Analysis
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
    3. COVID-19 Impact Analysis
      1. Impact on Services
      2. Impact on Market Growth
      3. Impact on Regions
  6. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN CONSTRUCTION MARKET BY OFFERING, MARKET SIZE IN USD MILLION (2018-2027)
    1. Introduction
    2. Solution
    3. Service
  7. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN CONSTRUCTION MARKET BY STAGE, MARKET SIZE IN USD MILLION (2018-2027)
    1. Introduction
    2. Pre-Construction
    3. Construction-Stage
    4. Post-Construction
  8. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN CONSTRUCTION MARKET BY DEPLOYMENT MODE, MARKET SIZE IN USD MILLION (2018-2027)
    1. Introduction
    2. Cloud
    3. On-Premises
  9. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN CONSTRUCTION MARKET BY APPLICATION, MARKET SIZE IN USD MILLION (2018-2027)
    1. Introduction
    2. Asset Management
    3. Supply Chain Management
    4. Project Management
    5. Risk Management
    6. Schedule Management
    7. Others
  10. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN CONSTRUCTION MARKET BY TECHNOLOGY, MARKET SIZE IN USD MILLION (2018-2027)
    1. Introduction
    2. Machine learning and deep learning
    3. Natural Language Processing (NLP)
  11. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN CONSTRUCTION MARKET BY INDUSTRY TYPE, MARKET SIZE IN USD MILLION (2018-2027)
    1. Introduction
    2. Heavy Construction
    3. Residential
    4. Public Infrastructure
    5. Others
  12. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN CONSTRUCTION MARKET BY ENTERPRISES SIZE, MARKET SIZE IN USD MILLION (2018-2027)
    1. Introduction
    2. Small & Medium-sized Enterprises (SMEs)
    3. Large Enterprises
  13. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN CONSTRUCTION MARKET BY REGION, MARKET SIZE IN USD MILLION (2018-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. South Korea
      6. Rest of Asia-Pacific
    3. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Spain
      6. Rest of Europe
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  14. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
    4. Key Developments
  15. COMPANY PROFILES
    1. ALICE Technologies Inc.
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
      6. Key Strategy
    2. Aurora Computer Services Ltd
    3. Autodesk, Inc.
    4. Darktrace
    5. eSUB Inc.
    6. IBM Corporation
    7. Microsoft
    8. Oracle
    9. SAP SE
    10. Smartvid.io, Inc.
    11. Other Key Companies
  16. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY

Rep Id : ICT 0111

Published : October, 2020


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