Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. The term may also be applied to any machine that exhibits traits associated with a human mind such as learning and problem-solving.
Artificial intelligence has evolved with improved safety standards and assist in predicting hazards at construction sites before they take place. Therefore, the construction companies have leveraged the artificial intelligence technology in terms of predictive maintenance and risk management solutions. Also, the AI in the construction industry is highly adopted for the development of industrial internet of things (IIoT) based applications for construction sites. IIoT assists project managers with efficient outputs and reduced labor costs, which boosts the demand for artificial intelligence in the industry. Construction companies are focusing on investments in IIoT applications development to implement industry 4.0 and support full automation at their job sites.
The Artificial Intelligence (AI) in Construction industry can be broken down into several segments, Solution, Service, etc.
Across the world, the major players cover Autodesk, IBM, Microsoft, etc.
This report contains market size and forecasts of Artificial Intelligence (AI) in Construction in Global, including the following market information:
Global Artificial Intelligence (AI) in Construction Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Artificial Intelligence (AI) in Construction market was valued at 1049.4 million in 2021 and is projected to reach US$ 6501.3 million by 2028, at a CAGR of 29.8% during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Solution Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Artificial Intelligence (AI) in Construction include Autodesk, IBM, Microsoft, Oracle and SAP, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Artificial Intelligence (AI) in Construction companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Artificial Intelligence (AI) in Construction Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Artificial Intelligence (AI) in Construction Market Segment Percentages, by Type, 2021 (%)
Solution
Service
Global Artificial Intelligence (AI) in Construction Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Artificial Intelligence (AI) in Construction Market Segment Percentages, by Application, 2021 (%)
Project Management
Field Management
Risk Management
Schedule Management
Other
Global Artificial Intelligence (AI) in Construction Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Artificial Intelligence (AI) in Construction Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Artificial Intelligence (AI) in Construction revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Artificial Intelligence (AI) in Construction revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Autodesk
IBM
Microsoft
Oracle
SAP