2020 Autonomous Construction Equipment Market Competitors Analysis - Caterpillar Inc, Komatsu Limited, Volvo Group, Doosan Corporation, Hitachi Construction Machinery Co., Ltd.

The Business Research Company’s Autonomous Construction Equipment Market Report - Opportunities And Strategies – Global Forecast To 2023

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The global autonomous construction equipment market reached a value of nearly $9,529.7 million in 2019, having grown at a compound annual growth rate (CAGR) of 7.5% since 2015, and is expected to grow at a CAGR of 10.2% to nearly $14,051.6 million by 2023.

The key drivers of the autonomous construction equipment market include:
Rapid advances in technology is expected to drive innovation in autonomous construction equipment, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence and big data analytics are being used in manufacturing thus resulting in higher productivity, lower operating costs and higher margins For instance, according to a global survey by The Economist Intelligence Unit, about 90% of corporate executives. felt that artificial intelligence (AI) will have a positive impact on company’s growth and 86% of respondents considered that AI will help improve productivity. Lower operating costs lead to higher margins, this allows companies to increase product portfolio and to enter new markets by making investments made through cost savings. IoT applications are also being integrated into these devices to enable services such as remote monitoring, central feedback systems and to offer other services. Mobile applications, advanced sensors and embedded software also created new opportunities for companies in this market. These factors are expected to drive the autonomous construction equipment market during the forecast period.

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Autonomous Construction Equipment Market Segmentation:-
By Automation Level- The autonomous construction equipment market is segmented by automation level
a. Partial/Semi-Autonomous
b. Fully Autonomous
The partial/semi-autonomous market was the largest segment of the autonomous construction equipment market by automation level, accounting for $9,249.1 million or 97.1% of the total market in 2019. The fully autonomous market is expected to be the fastest-growing segment going forward at a CAGR of 36.3%.

By Product Type- The autonomous construction equipment market is segmented by product type
a. Earth Moving Equipment
b. Material Handling Equipment
c. Concrete & Road Construction Equipment
The material handling equipment market was the largest segment of the autonomous construction equipment market by product type, accounting for $3,941.6 million or 41.4% of the total market in 2019.The earth moving equipment market is expected to be the fastest-growing segment going forward at a CAGR of 11.2%.

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By Geography - The autonomous construction equipment market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa

Some of the major key players involved in the autonomous construction equipment market are
• Caterpillar Inc
• Komatsu Limited
• Volvo Group
• Doosan Corporation
• Hitachi Construction Machinery Co., Ltd.

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