Press release
Artificial Intelligence in Construction Market - Growth, Trends, and Forecast 2023
The growing importance of technology-based solutions has stimulated the construction sector to gather and share data in real time. Managing a huge chunk of data can create huge overhead costs, which can affect the profitability of an organization. Sometimes, the gathered data are irrelevant to the business process & profitability goals. Artificial intelligence (AI) plays a major role in limiting the amount of irrelevant data in these industry verticals.
AI helps to sort and organize the plethora of data which are pre-requisites for different construction purposes. AI in construction provides end-to-end solutions to a construction business by streamlining the flow of work and the process of gathering data. AI-based solutions vary from surveying, mapping, and exploring the resources, to synchronization with the automated process of bricklaying and transportation.
The global AI in construction market was valued at US$ ~449.7 million in the year 2018 and is expected to reach US$ ~2,107.8 million by the year 2023, growing at a CAGR of ~36.2%. With the increasing need for safety & security in the construction sector and the need for reduced production costs is driving the global AI in construction market. However, the slow adoption rate of AI-related technology in the construction sector and the complexity of the algorithms are expected to impede the growth of the market.
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The increasing adoption of robots, autonomous vehicles, and drones in the construction sector is also accentuating the growth of AI in construction market. Organizations are embracing these technologies for the purpose of surveying, aerial imaging, and mapping at construction sites for smoothening the construction operations.
This is developing numerous prospects for the growth of the AI in the construction sector. Construction companies are also utilizing the capabilities of AI for the purpose of designing, safety, estimation, and quality measurement, which further helps in accelerating the growth of AI in construction market globally.
Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Research Methodology
1.4 Market Segmentation Scope
Chapter 2 Executive Summary
2.1 Market Summary
2.2 Market Dynamics
2.3 Global AI in construction Market, by Segment, 2018
2.4 Premium Insights
Chapter 3 Market Dynamics
3.1 Market Overview
3.2 Market Drivers
3.3 Market Restraints
3.4 Market Opportunities
3.5 Industry Value Chain Analysis
3.6 Industry SWOT Analysis
Chapter 4 Global AI in construction Market, by Technology
4.1 Market Overview, by Technology
4.2 Neural Networks
4.3 Machine Learning & Deep Learning
4.4 Natural Language Processing (NLP)
Chapter 5 Global AI in construction Market, by Stage
5.1 Market Overview, by Stage
5.2 Pre-Construction
5.3 Construction
5.4 Post-Construction
Chapter 6 Global AI in construction Market, by Component
6.1 Market Overview, by Component
6.2 Solutions6.3 Services
Chapter 7 Global AI in construction Market, by Deployment
7.1 Market Overview, by Deployment
7.2 Cloud
7.3 On-premise
Chapter 8 Global AI in construction Market, by Application
8.1 Market Overview, by Application
8.2 Project Management
8.3 Risk Management
8.4 Supply Chain Management
8.5 Schedule Management
8.6 Field Management
Chapter 9 Global AI in construction Market, by End-user
9.1 Market Overview, by End-user
9.2 Residential
9.3 Commercial Institutions
9.4 Heavy Construction
9.5 Others
Chapter 10 Global AI in construction Market, by Region
10.1 Market Overview, by Region
10.2 Attractive Investment Opportunity, by Region, 2018
10.3 North America AI in construction Market
10.4 Europe AI in construction Market
10.5 Asia Pacific AI in construction Market
10.6 Rest of The World AI in construction Market
Chapter 11 Competitive Intelligence
11.1 Introduction
11.2 Players Evaluated During the Study
11.3 Market Players Present in Market Life Cycle
11.4 Top 5 Players Comparison
11.5 Market Positioning of Key Players, 2018
11.6 Market Players Mapping
11.7 Strategies Adopted by Key Market Players
11.8 Recent Developments in the Market
11.9 Operational Efficiency Comparison by Key Players
Chapter 12 Company Profiles
12.1 IBM
12.2 Alice Technologies
12.3 Aurora Computer Services
12.4 Autodesk
12.5 Building System Planning
12.6 eSUB
12.7 Microsoft
12.8 Oracle
12.9 SAP
12.10 Smartvid.io
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