Global Artificial Intelligence in Construction Market Overview:
Artificial intelligence in the construction industry has progressed in parallel with shifting trends in design, planning, and building structures. The construction industry's use of technology has made work more efficient and building projects and structures safer. The construction sector's embrace of artificial intelligence has made the business more inventive while also lowering costs. It is used to modify work schedules in order to increase worker safety and keep construction sites under monitoring.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Digitalization of Technologies Such as Mapping, Aerial Imagine, and Drones
Market Growth Drivers:
Growing Demand for Building info System, Security Sensors and Machine Telematics and Demand to Build Building Smarter, Cheaper, and More Efficient
Challenges:
Slow Adoption Rate and Complexity of the Algorithm
Restraints:
Lack of Skilled and Knowledgeable Professionals
Opportunities:
Rapid Movement of People from Village to Cities for Better Amenities
Competitive Landscape:
In the face of increasing competition, knowing customer behavior and preferences are becoming increasingly important, driving businesses and organizations to new development and product launches in order to provide the greatest service to remain ahead of their competitors. Furthermore, the rapid speed of digital transformation is forcing businesses in construction sectors for creating, managing, and enhancing their digital presence with Artificial Intelligence in Construction that can serve all purposes.
Some of the key players profiled in the report are IBM (United States), Microsoft (United States), Oracle (United States), SAP (Germany), Alice Technologies (United States), eSUB (United States), Smartvid.io (United States), Aurora Computer Services (United Kingdom), Autodesk (United States), Building System Planning (United States) and Beyond Limits (United States). Additionally, following companies can also be profiled that are part of our coverage like DarKTrace (United Kingdom), FuGenX Technologies (India) and Askporter (United Kingdom). Analyst at AMA Research see United States Players to retain maximum share of Global Artificial Intelligence in Construction market by 2028. Considering Market by Deployment Mode, the sub-segment i.e. Cloud will boost the Artificial Intelligence in Construction market. Considering Market by Organization Size, the sub-segment i.e. Small and Medium-sized Enterprises (SMEs) will boost the Artificial Intelligence in Construction market. Considering Market by Technology, the sub-segment i.e. Neural Networks will boost the Artificial Intelligence in Construction market. Considering Market by Stage Type, the sub-segment i.e. Pre-Construction will boost the Artificial Intelligence in Construction market. Considering Market by End User, the sub-segment i.e. Residential will boost the Artificial Intelligence in Construction market.
Latest Market Insights:
On 06 May 2021, Procore Technologies, Inc. announced the acquisition of Indus.AI. This acquisition expands the Procore platform's computer vision capabilities, allowing owners, general contractors, and specialized contractors to improve efficiency, safety, and profitability. Procore's investment in analytics and AI improve its intelligence system, allowing clients to unlock the value of their project data through strong insights that allow for smarter, data-driven choices.
What Can be Explored with the Artificial Intelligence in Construction Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Artificial Intelligence in Construction Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Artificial Intelligence in Construction
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Artificial Intelligence in Construction market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Artificial Intelligence in Construction market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Solution Vendors, Application Developers, System Integrators, International Traders, Research and Development Institutes, Financial Institutes and Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.