Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The "AI In Construction Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global AI in construction market is set for impressive growth, with an anticipated rise from $1.05 billion in 2022 to $1.37 billion in 2023, showcasing a remarkable Compound Annual Growth Rate (CAGR) of 30.54%.
The AI in construction market research report offers a comprehensive analysis of the industry's global market size, regional shares, competitive landscape, market segments, and trends, delivering an exhaustive outlook on both the present and future scenarios of the industry.
Key Market Trends
A significant trend in AI in the construction market is the integration of technological advancements. Industry players are adopting novel technologies to enhance their market presence. For example, in December 2022, PCL Construction, a Canadian construction company, introduced the AI Surveyor platform.
This innovative technology utilizes artificial intelligence and GIS analytics to automate the reporting of construction infrastructure development. By employing AI Surveyor, construction teams can efficiently monitor daily progress, identify potential deviations, and achieve substantial cost savings.
Global Economic Landscape
The report emphasizes the impact of the Russia-Ukraine war on the global economy, including economic sanctions, commodity price fluctuations, and supply chain disruptions. These factors have led to inflation across various goods and services, impacting global markets.
Market Segmentation
The AI in construction market is segmented as follows:
By Service:
- Drones
- Robots
- Software
- Platforms
By Geographical Landscape:
- APAC (Asia-Pacific)
- North America
- Europe
- Middle East and Africa
- South America
Driving Factors
The proliferation of infrastructure projects is anticipated to drive the growth of AI in the construction market. AI offers advanced technologies and algorithms to improve various aspects of infrastructure projects, resulting in efficient design, planning, operation, and management. The adoption of AI in construction is expected to surge as the industry seeks innovative solutions to meet the demands of infrastructure development. For example, both Australia and the United States have announced substantial investments in infrastructure projects, driving the need for AI solutions.
Strategic Insights
The report equips businesses with insights and strategies to leverage growth opportunities and outperform competitors. It outlines methods for making data-driven decisions, understanding market trends, and assessing customer preferences.
Key Questions Include:
Where is the largest and fastest growing market for AI in construction?
How does the market relate to the overall economy, demography and other similar markets?
What forces will shape the market going forward?
A Comprehensive Outlook
The AI in construction market research report delivers a comprehensive analysis of market characteristics, growth trajectory, and competitive landscape. It addresses key questions related to market growth drivers, its correlation with the global economy, and emerging forces shaping its future trajectory.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $1.37 billion |
| Forecasted Market Value (USD) by 2027 | $4.05 billion |
| Compound Annual Growth Rate | 31.1% |
| Regions Covered | Global |
Major players in the AI In Construction market are
- Doxel Inc.
- Building System Planning Inc.
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Alice Technologies Inc.
- eSUB Inc.
- Newmetrix
- Aurora Computer Services Ltd.
- Bentley Systems Incorporation
- Autodesk Inc.
- The International Business Machines Corporation
- Dassault Systemes SE
- PTC Inc.
- Nvidia Corporation
- Deepomatic
Key Topics Covered:
1. Executive Summary
2. AI In Construction Market Characteristics
3. AI In Construction Market Trends And Strategies
4. AI In Construction Market - Macro Economic Scenario
4.1. COVID-19 Impact On AI In Construction Market
4.2. Ukraine-Russia War Impact On AI In Construction Market
4.3. Impact Of High Inflation On AI In Construction Market
5. AI In Construction Market Size And Growth
5.1. Global AI In Construction Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global AI In Construction Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. AI In Construction Market Segmentation
6.1. Global AI In Construction Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Solutions
- Services
6.2. Global AI In Construction Market, Segmentation By Stage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Pre-Construction
- Construction Stage
- Post-Construction
6.3. Global AI In Construction Market, Segmentation By Deployment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Cloud
- On-Premises
6.4. Global AI In Construction Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Project Management
- Field Management
- Risk Management
- Schedule Management
- Supply Chain Management
- Other Applications
6.5. Global AI In Construction Market, Segmentation By Industry Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Heavy Construction
- Institutional Commercials
- Residential
- Other Industry Types
7. AI In Construction Market Regional And Country Analysis
7.1. Global AI In Construction Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global AI In Construction Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/vkbpi7
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