Global Artificial Intelligence in Construction Market to reach USD XX billion by 2025.

Global Artificial Intelligence in Construction Market valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2018-2025. The major driving factor of global artificial intelligence in construction market are growing demand across end user industries, technological advancements have encouraged the organizations especially construction and engineering sector and the increasing digital data. In addition, a rapid surge in the growth of the digital data has been witnessed owing to the growing adoption of Building Information Systems (BIM), security sensors, drones, and machine telematics. This is encouraging construction companies to adopt advanced analytics solutions to take the full advantage of the huge amount of digital data and extract actionable insights.

The major restraining factor of global artificial intelligence in construction market are unstructured construction environment and lack of skilled workforce. Moreover, adoption of the drones, robots, and autonomous vehicles in the construction sector is also backing the growth of the artificial intelligence in construction market. Artificial Intelligence in Construction Management is the core of artificial intelligence. With data collected at various cycles of the construction project across many different projects in construction firms, this provides valuable learning information for artificial intelligence applications. Artificial intelligence serves as a helpful tool for every phase of the construction project. The major key benefits of artificial intelligence are By using Construction Language Analysis, from tools such as Autodesk BIM 360 software, algorithms are able to understand complex data and predict potential problems, by using AI technology in the construction industry and scanning software, they can track the body movement of bricklayers to analyses their form in order to reduce the amount of injuries on-site and artificial intelligence in construction can be used to measure a project’s parameters which is then fed into a computer which understands the data and requirements of their physical location.

The regional analysis of Global Artificial Intelligence in Construction Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North-America has accounted the dominant share in the global Artificial Intelligence in Construction market due to high investments by construction companies.  Additionally, Asia Pacific is also expected to register a considerable growth rate in the market over the forecasted period 2018-2025. China, Japan, South Korea, and India are the leading countries in this region. The market growth is due to increase in demand by the economies to develop smart city projects which require better amenities that boost the real estate sector.

The leading market player are:

• IBM
• Microsoft
• Oracle
• SAP
• Alice Technologies
• Aurora Computer Services
• Autodesk
• Coins Global
• Beyond Limits
• Plangrid
• Renoworks Software
• Bentley Systems

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:

§ Project Management
§ Field Management
§ Risk Management
§ Schedule Management
§ Supply-Chain Management
§ Others

By Industry:

§ Residential
§ Institutional Commercial
§ Heavy construction
§ Others

By Component:

§ Solutions
§ Services

By Stage of Construction:

§ Pre-Construction
§ Construction Stage
§ Post-Construction

By Technology:

§ Machine Learning & Deep Learning
§ Natural Language Processing

By Deployment:

§ Cloud
§ On-Premises

By Regions:
§ North America
o U.S.
o Canada
§ Europe
o UK
o Germany
§ Asia Pacific
o China
o India
o Japan
§ Latin America
o Brazil
o Mexico
§ Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025

Target Audience of the Global Artificial Intelligence in Construction Market in Market Study:

§ Key Consulting Companies & Advisors
§ Large, medium-sized, and small enterprises
§ Venture capitalists
§ Value-Added Resellers (VARs)
§ Third-party knowledge providers
§ Investment bankers
§ Investors