Press release
Artificial Intelligence in Construction Market 2021 Competitive Insights and Precise Outlook - Autodesk Inc., Building System Planning Inc., Smartvid.io Inc., Doxel Inc., Bentley Systems Inc
The Artificial Intelligence in Construction Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The AI in Construction Market was valued at USD 466.9 million in 2019, and it is projected to be worth USD 2312.8 million by 2025, registering a CAGR of 33.87% during the period 2020 to 2025.
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Top Leading Companies of Artificial Intelligence in Construction Market are Autodesk Inc., Building System Planning Inc., Smartvid.io Inc., Doxel Inc., Bentley Systems Inc., PTC Inc., IBM Corporation, NVIDIA Corporation, Oracle Corporation, Alice Technologies Inc., Dassault Systems SE, Lurtis Rules, S.L., Microsoft Corporation, eSUB Inc. and others.
Industry News and Updates
- April 2020 - Bentley Systems, Inc., launched its ProjectWise 365 cloud service, and waived subscription fees till September 30, 2020, to promotie and virtually connect infrastructure project participants forced to work from home.
- March 2020 - Smartvid.io announced that its AI platform, Vinnie, can now recognize construction phases, new work at height risks, and workers in groups. This helps Smartvid.io to automatically recommend risk ratings based on the hazard detected in combination with contextual tags.
Key Market Trends
North America is Expected to Witness Significant Growth Rate
- North America is one of the most advanced construction markets in the world. It is the second-largest construction market, after Asia-Pacific, with more than 15% of the global annual construction revenues.
- The change in the political scenario of the United States and massive construction labor shortage in the region, despite a considerable increase in construction labor activities, are driving the need for automation in the construction sector. The country is one of the most prominent hubs for construction tech startups. Therefore, the rapid adoption of AI is expected in the construction sector to overcome these hurdles, making it the fastest-growing region for artificial intelligence in the construction market.
- There is a robust increase in investments by the companies, such as Oracle Corporation, IBM Corporation, and many more, in developing technologies, such as machine learning and neural networks. The region also hosts many AI solution providers and construction companies, making it the most competitive and robust region.
Regional Outlook of Artificial Intelligence in Construction Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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https://www.marketinsightsreports.com/reports/07202153507/artificial-intelligence-in-construction-market-growth-trends-forecasts-2020-2025?Mode=PD
What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Artificial Intelligence in Construction Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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