Artificial Intelligence In Construction Market Size, Share, Industry Trends and Forecast to 2030

Artificial Intelligence In Construction Market Size & CAGR in 2021

The global artificial intelligence in construction market is projected to exhibit a compound annual growth rate (CAGR) of 8.75% from 2021 to 2028. This growth is expected to result in the market reaching a value of USD 4.32 billion by 2028.

COVID-19 Impact on the Artificial Intelligence In Construction Market

The COVID-19 pandemic has significantly impacted the artificial intelligence in construction market. With restrictions in place and construction projects being put on hold, the adoption of AI technologies has slowed down. However, as the industry recovers and embraces digital transformation, the demand for AI solutions in construction is expected to increase.

Artificial Intelligence In Construction Dynamics

The dynamics of the artificial intelligence in construction market are driven by factors such as the need for efficiency, accuracy, and cost-effectiveness in construction projects. AI technologies can help in streamlining processes, optimizing resources, and reducing errors, leading to improved project outcomes.

Segments and Related Analysis

The artificial intelligence in construction market can be segmented based on solutions, deployment mode, technology, and application. Key segments include project management, risk management, quality assessment, and safety monitoring. Understanding these segments and their related analysis is crucial for stakeholders in the market.

By Region Analysis

The artificial intelligence in construction market can be analyzed regionally to understand the market trends and dynamics in different parts of the world. Key regions include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has its unique challenges and opportunities for AI adoption in construction.

Key Market Players and Competitive Landscape

The artificial intelligence in construction market is highly competitive, with key players such as Autodesk, Bentley Systems, Trimble, Oracle, and others leading the market. Understanding the competitive landscape and key market players' strategies is essential for stakeholders to make informed decisions.

Recent Happenings in the Artificial Intelligence In Construction Market

Recent developments in the artificial intelligence in construction market include the introduction of new AI solutions, partnerships between technology companies and construction firms, and investments in AI research and development. Staying updated on these recent happenings is crucial for staying ahead in the market.