Artificial Intelligence in Construction Market to Observe Strong Development of 33.7% CAGR by 2023 | Global Key Players - Autodesk, Building System Planning, Smartvid.io, Komatsu, NVIDIA, Doxel

Marketprognosis.com Publish a New Market Research Report On “Artificial Intelligence in Construction Market - Growth, Trends, and Forecast (2018 - 2023)” which contains global key player’s survey information and forecast to 2023.

Overview of the Global Artificial Intelligence in Construction Market:

Artificial Intelligence in Construction Market was valued at USD 325.7 Million in 2017 and is expected to reach a value of USD 1850.5 Million by 2023 at a CAGR of 33.7% during the forecast period (2018 - 2023).

Artificial intelligence is the concept of machines being able to perform tasks in a way that would mimic complex human intelligence capabilities like recognition, planning and decision making. Although the technology was first introduced in the early 1950s, it has come to light in the past few decades. The advent of the internet of things and the fourth industrial revolution (Industry 4.0) increased the usage of this technology, especially in the heavy industries, like oil & gas, general manufacturing, and automotive.

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Planning and design phase of a building is one of the most crucial tasks in any construction activity. A lot of soft costs are spent on research, architecture, and design as making any changes in the construction phase would lead to budgetary constraints. This is encouraging many construction professionals to use advanced add-on software, along with the Building Information Modeling (BIM) software, in order to enable the capabilities of the generative design.

North America is one of the most advanced construction markets in the world. In fact, it is the second largest construction market after the Asia Pacific holding more than 15% of the global construction revenues annually. Primarily driven by the construction activity in the United States due to reconstruction initiatives after the hurricane Harvey, and growing investment in Canada, the region is expected to be the fastest growing market for AI in construction. The change of political scenario in the United States and massive construction labor shortage in the region, despite considerable increase in construction labor, are driving the need for automation in the construction sector.

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Major Key Players:

1 Autodesk, Inc

2 Building System Planning, Inc.

3 Smartvid.io, Inc.

4 Komatsu Ltd.

5 NVIDIA Corporation

6 Doxel Inc. and More……………..

This study answers to the below key questions:

1 What will the market size be in 2023 and what will the growth rate be?

2 What are the key market trends?

3 What is driving this market?

4 What are the challenges to market growth?

5 Who are the key vendors in this market space?

6 What are the market opportunities and threats faced by the key vendors?

7 What are the strengths and weaknesses of the key vendors?

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In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Artificial Intelligence in Construction Market.

Table of Contents:

1 Introduction

2 Executive Summary

3 Artificial Intelligence in Construction Market Overview

4 Market Dynamics

5 AI in Construction Segmentation

6 Artificial Intelligence in Construction Company Profiles

7 Artificial Intelligence in Construction Investment Analysis

8 Future of AI in Construction

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This release was published on openPR.