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Artificial Intelligence In Construction Market - Global Industry Analysis

Artificial Intelligence In Construction Market – By Technology (Machine Learning, NLP, and Deep Learning), By Application (Project Management, Risk Management, Field Management, Supply Chain Management, and Schedule Management), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Published Date: 03-Jun-2021 Category: Technology & Media Report Format : PDF Pages: 145 Report Code: ZMR-3617 Status : Published

The global Artificial Intelligence In Construction market, which was estimated at about 400 (USD Million) in 2019 and is predicted to accrue earnings worth 2,010 (USD Million) by 2026, is set to record a CAGR of nearly over 35% during 2020-2026.

Description

The global Artificial Intelligence In Construction market, which was estimated at about 400 (USD Million) in 2019 and is predicted to accrue earnings worth 2,010 (USD Million) by 2026, is set to record a CAGR of nearly over 35% during 2020-2026. The report offers valuation and analysis of Artificial Intelligence In Construction market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Million).

Report Scope :

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Artificial Intelligence in Construction Market: Overview

Utility of AI in Construction industry has helped many of the firms in the construction business to not only optimize the quality of construction projects but also to ensure the safety of these projects. Digitization has become buzzword and catch phrase for various industries and construction industry is no exception to this. Moreover, artificial intelligence assists construction firms to be productive. Furthermore, artificial intelligence helps in eliminating monotonous tasks through its integration in the project management activities in construction. Apart from this, AI facilitates optimization of project design as well as helps in geospatial mapping of UAVs for surveying land surface for construction projects. In addition to this, AI also helps in improving workplace safety & enhance speed of project delivery along with automating location monitoring as well as providing smart construction solutions to the builders.

Artificial Intelligence in Construction Market: Growth Drivers

Escalating need for safety at site of construction and need for reducing production & operational costs will drive the use of artificial intelligence in construction industry over 2020-2026. Furthermore, AI has proved beneficial for construction industry as it is utilized during pre-construction phase. Rise in the need for spatial data and capturing accurate images of the sites will proliferate in the massive application of artificial intelligence in construction market. In addition to this, lack of skilled personnel availability in construction sector in European region as well as in North America will prompt the expansion of artificial intelligence in construction market over the forecast timeframe.

Moreover, with onset of industry 4.0 revolution and construction firms focusing on funding of IIoT based applications for construction activities, the market for artificial intelligence in construction market is predicted to gain traction over the assessment timeline. Need for reducing worker causalities & accidents as well as workplace injuries taking place at construction sites will drive market trends. AI-embedded cameras help the site managers in monitoring the location along with assessing real-time events taking place in the vicinity of the construction site. Furthermore, the utilization of artificial intelligence in construction activities will help in reducing unexpected falls from the buildings. This will proliferate the expansion of artificial intelligence in construction market over forecast timeframe.

Asia Pacific Market To Record Highest Gains Over 2020-2026

The artificial intelligence in construction industry in APAC will accrue huge returns subject to rapidly growing construction industry with bulging population in countries like India and China. Apart from this, surge in infrastructural investments and project management & risk management activities will further soar the regional market trends. Additionally, AI applications have found massive acceptance in developing countries in the sub-continent. Furthermore, escalating trend of smart cities in countries like India & China will prompt the demand for AI tools in construction sector. All these factors will drive the market penetration in the region.

 

Key players profiled in the study include eSUB Inc.; IBM Corporation; Aurora Construction and Security; Microsoft Corporation; Darktrace; Smartvid.io, Inc.; Oracle Corporation; SAP SE; ALICE Technologies Inc.; and Autodesk Inc.

The global Artificial Intelligence In Construction Market is segmented as follows:

By Application:

  • Project Management
  • Risk Management
  • Field Management
  • Supply Chain Management
  • Schedule Management

By Technology:

  • Machine Learning
  • NLP
  • Deep Learning

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodulogy
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodulogy
  • Chapter 2. Executive Summary
    • 2.1. Artificial Intelligence In Construction Market, 2016–2026 (USD Million)
    • 2.2. Artificial Intelligence In Construction Market: Snapshot
  • Chapter 3. Global Artificial Intelligence In Construction Market– Industry Analysis
    • 3.1. Artificial Intelligence In Construction Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. Escalating need for safety at site of construction and need for reducing production & operational costs will drive the use of artificial intelligence in construction industry over 2020-2026.
      • 3.2.2. Rise in the need for spatial data and capturing accurate images of the sites will pruliferate in the massive application of artificial intelligence in construction market.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Application
      • 3.4.2. Market attractiveness analysis By Technulogy
  • Chapter 4. Global Artificial Intelligence In Construction Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Artificial Intelligence In Construction Market: company market share, 2018
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Technulogy launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Artificial Intelligence In Construction Market– Application Analysis
    • 5.1. Global Artificial Intelligence In Construction Market overview: By Application
      • 5.1.1. Global Artificial Intelligence In Construction Market share, By Application , 2019 and 2026
    • 5.2. Project Management
      • 5.2.1. Global Artificial Intelligence In Construction Market By Project Management, 2016–2026 (USD Million)
    • 5.3. Risk Management
      • 5.3.1. Global Artificial Intelligence In Construction Market By Risk Management, 2016–2026 (USD Million)
    • 5.4. Field Management
      • 5.4.1. Global Artificial Intelligence In Construction Market By Field Management, 2016–2026 (USD Million)
    • 5.5. Supply Chain Management
      • 5.5.1. Global Artificial Intelligence In Construction Market By Supply Chain Management, 2016–2026 (USD Million)
    • 5.6. Schedule Management
      • 5.6.1. Global Artificial Intelligence In Construction Market By Schedule Management, 2016–2026 (USD Million)
  • Chapter 6. Global Artificial Intelligence In Construction Market– Technulogy Analysis
    • 6.1. Global Artificial Intelligence In Construction Market overview: By Technulogy
      • 6.1.1. Global Artificial Intelligence In Construction Market share, By Technulogy, 2019 and 2026
    • 6.2. Machine Learning
      • 6.2.1. Global Artificial Intelligence In Construction Market By Machine Learning , 2016–2026 (USD Million)
    • 6.3. Deep Learning
      • 6.3.1. Global Artificial Intelligence In Construction Market By Deep Learning, 2016–2026 (USD Million)
    • 6.4. NLP
      • 6.4.1. Global Artificial Intelligence In Construction Market By NLP, 2016–2026 (USD Million)
  • Chapter 7. Company Profiles
    • 7.1. eSUB Inc.
      • 7.1.1. Overview
      • 7.1.2. Financials
      • 7.1.3. Technulogy Portfulio
      • 7.1.4. Business Strategy
      • 7.1.5. Recent Developments
    • 7.2. IBM Corporation
      • 7.2.1. Overview
      • 7.2.2. Financials
      • 7.2.3. Technulogy Portfulio
      • 7.2.4. Business Strategy
      • 7.2.5. Recent Developments
    • 7.3. Aurora Construction and Security
      • 7.3.1. Overview
      • 7.3.2. Financials
      • 7.3.3. Technulogy Portfulio
      • 7.3.4. Business Strategy
      • 7.3.5. Recent Developments
    • 7.4. Microsoft Corporation
      • 7.4.1. Overview
      • 7.4.2. Financials
      • 7.4.3. Technulogy Portfulio
      • 7.4.4. Business Strategy
      • 7.4.5. Recent Developments
    • 7.5. Darktrace
      • 7.5.1. Overview
      • 7.5.2. Financials
      • 7.5.3. Technulogy Portfulio
      • 7.5.4. Business Strategy
      • 7.5.5. Recent Development
    • 7.6. Smartvid.io, Inc.
      • 7.6.1. Overview
      • 7.6.2. Financials
      • 7.6.3. Technulogy Portfulio
      • 7.6.4. Business Strategy
      • 7.6.5. Recent Development
    • 7.7. Oracle Corporation
      • 7.7.1. Overview
      • 7.7.2. Financials
      • 7.7.3. Technulogy Portfulio
      • 7.7.4. Business Strategy
      • 7.7.5. Recent Development
    • 7.8. SAP SE
      • 7.8.1. Overview
      • 7.8.2. Financials
      • 7.8.3. Technulogy Portfulio
      • 7.8.4. Business Strategy
      • 7.8.5. Recent Development
    • 7.9. ALICE Technulogies Inc.
      • 7.9.1. Overview
      • 7.9.2. Financials
      • 7.9.3. Technulogy Portfulio
      • 7.9.4. Business Strategy
      • 7.9.5. Recent Development
    • 7.10. Autodesk Inc.
      • 7.10.1. Overview
      • 7.10.2. Financials
      • 7.10.3. Technulogy Portfulio
      • 7.10.4. Business Strategy
      • 7.10.5. Recent Development

Methodology

Free Analysis

Artificial Intelligence has the ability to perform tasks similar to that performed by human intelligence, such as planning, recognition, and decision making. The construction sector is adopting AI to obtain precise data and insights to increase productivity, operational efficiency, and ensure safety at work. AI operates on algorithms related to image recognition to find out search criteria. For instance, it includes hard hats and safety vests to search construction workers, those who are not wearing proper safety gears. The primary applications for AI-In-Construction market include planning, safety, monitoring and maintenance, and autonomous equipment.

AI’s capability in construction services and solutions to reduce production costs is the major factor expected to drive the global AI-In-Construction market. In addition, the need for safety measures on construction sites is also projected to drive this market’s growth. Furthermore, huge investments made by construction companies from the emerging economies globally in the adoption of the advanced AI technology for construction applications is also likely to contribute toward the global growth of the AI-In-Construction market. However, the low technological investments in R&D for developing new technologies might hamper this market. Nonetheless, the increasing demand for integrated AI in construction activities is estimated to create new market opportunities.

AI-In-Construction Market

By technology, the AI-In-Construction market is divided into natural language processing and machine learning and deep learning. By component, this market includes solutions and services. By deployment type, the market is bifurcated into on-premises and cloud. A cloud deployment type is estimated to grow at a higher CAGR during the projected period, owing to its cost-effectiveness. Project management, field management, risk management, supply chain management, and schedule management comprise the application segment of the AI-In-Construction market.

North America held the largest market share in 2017, due to the increasing AI adoption in several applications and the huge market investments. Europe is expected to witness a significant rate of growth in this market in the upcoming years, owing to the high investments in the AI technology that supports digital skills for graduates and professionals. Asia Pacific is considered to be the fastest growing region over the projected period, owing to the rising AI adoption by real estate companies in emerging economies, such as China and India.

Some of the noticeable players operating in the AI-In-Construction market are Renoworks Software, IBM, Autodesk, Microsoft, Oracle, SAP, Building System Planning, Alice Technologies, Askporter, eSUB, SmarTVid.Io, Darktrace, Aurora Computer Services, Jaroop, Lili.Ai, Predii, Assignar, Deepomatic, Coins Global, Beyond Limits, Doxel, Plangrid, and Bentley Systems, among others.


Frequently Asked Questions

Escalating need for safety at site of construction and need for reducing production & operational costs will drive the use of artificial intelligence in construction industry over 2020-2026. Furthermore, AI has proved beneficial for construction industry as it is utilized during pre-construction phase. Rise in the need for spatial data and capturing accurate images of the sites will proliferate in the massive application of artificial intelligence in construction market. In addition to this, lack of skilled personnel availability in construction sector in European region as well as in North America will prompt the expansion of artificial intelligence in construction market over the forecast timeframe.

Moreover, with onset of industry 4.0 revolution and construction firms focusing on funding of IIoT based applications for construction activities, the market for artificial intelligence in construction market is predicted to gain traction over the assessment timeline. Need for reducing worker causalities & accidents as well as workplace injuries taking place at construction sites will drive market trends. AI-embedded cameras help the site managers in monitoring the location along with assessing real-time events taking place in the vicinity of the construction site. Furthermore, the utilization of artificial intelligence in construction activities will help in reducing unexpected falls from the buildings. This will proliferate the expansion of artificial intelligence in construction market over forecast timeframe.

According to Zion Market Research report, The global Artificial Intelligence In Construction market, which was estimated at about 400 (USD Million) in 2019 and is predicted to accrue earnings worth 2,010 (USD Million) by 2026, is set to record a CAGR of nearly over 35% during 2020-2026.  

Asia Pacific is likely to make noteworthy contributions towards overall market revenue. The growth of the industry in the sub-continent over the estimated timespan is attributed to rapidly growing construction industry with bulging population in countries like India and China. Apart from this, surge in infrastructural investments and project management & risk management activities will further soar the regional market trends. Additionally, AI applications have found massive acceptance in developing countries in the sub-continent. Furthermore, escalating trend of smart cities in countries like India & China will prompt the demand for AI tools in construction sector. All these factors will drive the market penetration in the region.

The key players profiled in the report include are eSUB Inc.; IBM Corporation; Aurora Construction and Security; Microsoft Corporation; Darktrace; Smartvid.io, Inc.; Oracle Corporation; SAP SE; ALICE Technologies Inc.; and Autodesk Inc.

 

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