Delvens published a new research publication on "Artificial Intelligence (AI) in Construction Market Insights, to 2030" with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Artificial Intelligence (AI) in Construction Market was mainly driven by the increasing R&D spending across the world.
The global Artificial Intelligence (AI) in Construction Market size was estimated at USD 4.7 billion in 2023 and is projected to reach USD 25.2 billion in 2030 at a CAGR of 24.8% during the forecast period 2024-2030.
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Artificial Intelligence (AI) is revolutionizing the construction industry by introducing transformative technologies across all stages of project development, from design and preconstruction to construction, operations, and asset management.
This digital shift is not just advantageous but increasingly essential for companies aiming to stay competitive and achieve sustainable growth in the market. AI technologies promise substantial benefits, including enhanced operational efficiency, cost reduction, and improved safety measures at construction sites.
Key Findings:
· On the basis of Offering, The Offering segment in the Artificial Intelligence (AI) in Construction Market is poised for substantial growth, driven by offerings from major players like IBM, Microsoft, and Oracle.
· On the basis of Application, the application segment is poised to significantly boost the Artificial Intelligence (AI) in Construction Market, expected to command a substantial market share. AI-enabled project management solutions streamline processes across all construction phases—from pre-construction planning to post-construction tasks like real estate and facilities management.
North America to Dominate the Market
North America held the largest Artificial Intelligence (AI) in Construction Market primarily due to substantial investments by construction companies and the presence of established vendors catering to a growing demand. The region benefits from early adoption and integration of AI technologies across diverse applications such as project management, field operations, risk mitigation, and supply chain optimization.
Competitive Landscape
· Autodesk Inc.
· Building System Planning Inc.
· Smartvid.io Inc.
· Doxel Inc.
· Bentley Systems Inc.
· PTC Inc.
· IBM Corporation
· NVIDIA Corporation
· Oracle Corporation
· Alice Technologies Inc.
· Dassault Systems SE
· Lurtis Rules, S.L.
· Microsoft Corporation
· eSUB Inc.
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Recent Developments
In November 2022, Disperse.io, a UK-based construction technology firm, introduced a new product named Impulse. Utilizing AI, this platform enhances project management by analyzing 360° site scans to identify and present issues in building elevations, aiding project managers in making informed decisions based on performance insights captured from construction sites.
In September 2022, Briq, a construction technology financial firm, acquired Swipez, an Indian fintech company specializing in automated billing and revenue collection. Briq's platform facilitates the automation of essential financial workflows within construction companies, including corporate planning, labor and materials forecasting, project forecasts, and revenue projections.
The Artificial Intelligence (AI) in Construction Market is segmented into various segments such as Offering, Application, Industry Type, and Region:
Based on Offering
· Solution
· Service
Based on the Application
· Asset Management
· Project Management
· Risk Management
· Schedule Management
· Supply Chain Management
Based on the Industry Type
· Residential
· Public Infrastructure
· Heavy Construction
The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
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In addition to the market data for the Artificial Intelligence (AI) in Construction Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
Frequently Asked Questions
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