Artificial Intelligence in Construction Market Forecast and Trends
The global Artificial
Intelligence in Construction market is anticipated to grow nearly at a CAGR of
34.9 % to reach US$ 2,317 Million by 2026. The primary growth drivers of the Artificial
Intelligence in Construction Market is the flexibility in designing, planning,
and other processes using artificial intelligence. In addition, the increasing
need for building security will also have a positive impact on market growth.
Significant developments in surveillance, monitoring, and maintenance systems
that use AI technologies to anticipate and alert against adverse situations are
gradually increasing the role of AI-based technology in the construction
industry. One of the important factors driving the growth of AI in the
construction industry is the augmenting demand for data integration and visual
analytics. Due to growing data proliferation and complexities, the need for
data integration solutions is increasing. With the introduction of AI-powered
video analytics systems, many end-user industries concentrate on exploring and
analyzing various types of data. In addition, by combining their companies with
business analytics applications, they also focused on achieving dynamic data
Artificial Intelligence in Construction Market Overview:
Artificial Intelligence (AI)
refers to human intelligence simulation of computers designed to think as human
beings and imitate their behavior. The concept may also be extended to any
computer displaying human mind-related characteristics such as thinking and
problem-solving. Artificial intelligence is grounded on the principle that
human intelligence can be defined in such a way that it can be easily imitated
and executed by a machine, from the simplest to the more complex. Artificial
intelligence objectives include learning, reasoning, and perception.
The rising demand for
AI-based solutions and applications, the need for more security measures at
construction sites, and AI technologies and services capabilities to reduce
production costs are expected to drive AI growth in the construction industry.
Rising Demand for AI-based
Platforms and Solutions
In the construction
industry, artificial intelligence consists of some significant players
supplying the construction sector with AI solutions. In order to provide higher
efficiency, significant players are undergoing new innovations and acquisitions
as the construction sector is already experiencing slow growth in the adoption
of these technologies. AI is also used to facilitate communication between
different elements in the construction process as it provides real-time alerts
and synchronized files to enable easy access for architects, designers, and
contractors to project-related plans. In fact, it helps anyone on the team to
access project data from a smartphone on the spot.
Need to Reduce Production
Costs and construction safety
The increasing need for
construction safety and the requirement for cost-effective solutions expected
to drive AI growth in the construction industry. The lack of skilled labor in
the global construction industry, which may be attributed to the strict
migration regulations in developed regions, fuels the construction sector's
appetite for AI-based automation.
High unskilled professional
and Privacy concerns
Moreover, lack of skilled
professionals and the increasing cases of privacy invasion, are some of the
factors responsible for limiting the market growth.
Artificial Intelligence in Construction Market: Technology
Based on Technology, the Artificial
Intelligence in Construction market segmented into Machine learning and deep
learning, Natural Language Processing (NLP). The machine learning and deep
learning segment are projected to have a larger market size due to the
increasing necessity to analyze dark data and automate business functions. The
application of machine learning and deep learning technology has increased
several times in the construction industry. In order to achieve advantages,
several construction companies are deploying AI-based solutions.
Artificial Intelligence in Construction Market: Stage
Based on Stage, the Artificial
Intelligence in Construction market segregated into Pre-construction,
Construction stage, Post-construction.
Artificial Intelligence in Construction Market: Component
Based on Component, the Artificial
Intelligence in Construction market bifurcated into Solutions, and Services.
The solutions segment is anticipated to have a larger market size since AI in
construction solutions plays an essential role in the efficient and effective
functioning of construction businesses using Natural Language Processing (NLP);
and machine learning and deep learning technologies.
Artificial Intelligence in Construction Market: Deployment
Based on Deployment, the Artificial
Intelligence in Construction market bifurcated into Cloud, and On-premises. The
cloud deployment type is expected to grow at a higher CAGR during the forecast
period since this deployment type is easy and cost-effective for use in
Artificial Intelligence in Construction Market: Organization size
Based on Organization size,
the Artificial Intelligence in Construction market bifurcated into SMEs, and
large enterprises. The large enterprises are anticipated to account for a
larger market share due to the rising investments in Artificial Intelligence in
Artificial Intelligence in Construction Market: Applications
Based on Applications, the Artificial
Intelligence in Construction market segmented into Project management, Field
management, Risk management, Schedule management, Supply chain management, and
Others. The project management segment is anticipated to have the largest
market size, as this is a crucial phase of construction project planning. It
includes drafting the proposal, managing the design stage, and documenting the
project-related funds, loans, and other minute details.
Artificial Intelligence in Construction Market: End Use
Based on End Use, the Artificial
Intelligence in Construction market segregated into Residential, Institutional
commercials, Heavy construction, and Others.
Artificial Intelligence in Construction Market: Regional insights
By geography, the global Artificial
Intelligence in Construction Market segregated into North America, Europe, Asia
Pacific, Middle East & Africa, and Latin America. Asia Pacific is expected
to have the highest CAGR over the forecast period, owing to the application of
Artificial Intelligence (AI) in Construction through different applications and
growing initiatives by governments of those countries in the region. North
America is anticipated to have the largest market share, owing to the rapid
technological advancements and increasing government investments into the
development of artificial intelligence (AI).
Intelligence in Construction Market: Competitive Landscape
The major market players in
the Global Artificial Intelligence in Construction are IBM, Microsoft, Oracle,
SAP, Alice Technologies, eSUB, Smartvid.io, Aurora Computer Services, Autodesk,
Building System Planning, Renoworks Software, Askporter, Darktrace,
SmarTVid.Io, Jaroop, Predii, Lili.Ai, Deepomatic, Assignar, Beyond Limits,
Coins Global, Plangrid, Doxel, Bentley Systems, and other Prominent Players are
expanding their presence in the market by implementing various innovations and
objective of the Study:
To analyze and forecast the
global Artificial Intelligence in Construction market size of the market in
terms of value.
To examine the careful
market segmentation and forecast the market size, in terms value, based on the
region by segmenting the Global Artificial Intelligence in Construction market
into five regions, namely, North America, Europe, Asia Pacific, Middle East,
South America, and their leading countries.
To outline, categorized, and
forecast the global Artificial Intelligence in Construction market based on the
Technology, Stage, Component, Deployment, Organization size, Applications, and
To examine competitive
developments like technological advancement, services, and regulative framework
within the global Artificial Intelligence in Construction Market.
To highlight the impact analysis
of the factors, affecting the market dynamics such as drivers, restraints,
opportunities, and challenges.
To strategically profile the
key players and comprehensively analyze their market shares along with
detailing the competitive landscape for market leaders.
of the Report
Machine learning and deep learning
Natural Language Processing (NLP)
By Organization size
Supply chain management
By End Use
Asia Pacific (APAC)
Middle East & Africa
Questions answer by the report
How will the market drivers, restraints and
opportunities affect the market dynamics?
What will be the market size in terms of
value and volume and market statistics with a detailed classification?
Which segment dominates the market or region
and one will be the fastest growing and why?
A comprehensive survey of the competitive
landscape and the market participant players
Analysis of strategy adopted by the key player
and their impact on other players.
Scope for the Client
Client satisfaction is our
first and last priority and that is why BlueWeave Consulting offers
customization according to Company’s specific needs. The following
customization options are available for the report:
With five additional company detail analysis
Additional country analysis
Detailed segment analysis