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Global Artificial Intelligence Construction Market: $8.5 Bn Market by 2030 (CAGR 34.7%) - Autodesk, Trimble Lead

05-30-2024 10:39 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MAXIMIZE MARKET RESEARCH

Artificial Intelligence (AI) Construction Market

Artificial Intelligence (AI) Construction Market

The global artificial intelligence (AI) construction market is poised for explosive growth, with a projected market size of USD 8.5 billion by 2030. This translates to a staggering Compound Annual Growth Rate (CAGR) of 34.7% over the forecast period. This surge can be attributed to a multitude of factors, including the increasing adoption of automation and robotics in the construction industry. As companies strive for improved efficiency and productivity, AI solutions are becoming increasingly attractive. From optimized project planning and scheduling to enhanced safety measures and resource allocation, AI offers a comprehensive toolkit to revolutionize the construction landscape. As these benefits become more widely recognized, the construction industry is expected to witness a significant acceleration in AI adoption in the coming years.

Artificial Intelligence (AI) Construction Market Report Scope and Research Methodology:

Delving into the transformative world of AI in construction, a comprehensive Artificial Intelligence (AI) Construction Market Report sheds light on the intricate details of this burgeoning industry and its future potential. This report utilizes a meticulous research methodology to ensure a clear and insightful picture. Imagine a multi-faceted approach that incorporates in-depth market analysis, including market size, segmentation, and growth projections. Furthermore, the report delves into interviews with key industry leaders, from construction companies and technology providers to architects and engineers. This is complemented by a thorough examination of global trends in areas like automation, robotics, and data analytics relevant to the construction sector. The report doesn't stop there. It meticulously dissects the impact of AI on various construction stages, analyzes the evolving regulatory landscape, and investigates the latest advancements in AI technologies. By leveraging this rich tapestry of research methods, the report paints an accurate picture of the market landscape, key drivers, and potential challenges that will shape the future of AI in construction on a global scale.


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Artificial Intelligence (AI) Construction Market Dynamics:



The burgeoning Artificial Intelligence (AI) construction market is driven by a powerful confluence of factors. A key driver is the relentless pursuit of efficiency and productivity within the construction industry. AI solutions offer a compelling answer, automating repetitive tasks, optimizing project planning and scheduling, and streamlining resource allocation. This translates to faster project completion times, reduced costs, and minimized waste. Furthermore, AI empowers construction companies to enhance safety measures by automating hazardous tasks and providing real-time hazard identification. Additionally, AI-powered data analytics enable construction firms to gain deeper insights into project performance, identify potential risks, and make data-driven decisions for improved outcomes. These combined benefits are fueling the rapid adoption of AI across various construction stages, from design and planning to construction and maintenance. However, challenges remain. The high upfront costs associated with implementing AI solutions can be a hurdle, particularly for smaller construction firms. Additionally, concerns regarding data privacy and security require careful consideration. Despite these challenges, the potential of AI to revolutionize the construction industry is undeniable, propelling significant market growth in the years to come.



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Artificial Intelligence (AI) Construction Market Regional Insight:



North America, spearheaded by the United States and Canada, reigns supreme in the global AI construction market, having claimed the lion's share in 2023. This dominance stems from a potent combination of factors: a technologically advanced ecosystem, a relentless focus on maximizing productivity and efficiency, and significant government support. This convergence positions North America as a frontrunner in construction industry innovation.

The region's dominance is fueled by its robust technological infrastructure. A well-developed infrastructure, coupled with easy access to capital and a thriving tech culture, fosters the rapid development and widespread adoption of cutting-edge AI solutions across various construction sectors. North American construction companies, prioritizing efficiency and cost-effectiveness, readily embrace AI-powered tools and automation solutions, leading to their integration across diverse facets of construction operations. Further solidifying its leadership, North American governments actively support AI adoption through proactive initiatives such as research grants and pilot programs. This governmental backing bridges technological gaps, creating an environment ripe for innovation and swift AI integration. Recent advancements within North America's AI construction market highlight a growing focus on robotics and automation. Leading corporations like Caterpillar and Trimble are at the forefront of developing sophisticated AI-powered robots, revolutionizing critical construction tasks like welding, bricklaying, and comprehensive site surveying. This emphasis on automation positions North America as a trendsetter in leveraging AI to transform the construction landscape.



Artificial Intelligence (AI) Construction Market Segmentation:



by Component

Solutions
Services

by Technology

Machine Learning
Natural Language Processing (NLP)
Computer Vision
Others

by Application

Project Management
Field Management
Risk Management
Predictive Maintenance
Others

by End User

Residential Construction
Commercial Construction
Industrial Construction



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Artificial Intelligence (AI) Construction Market Key Players:



North America:
1. Autodesk (US)
2. Trimble (US)
3. Caterpillar (US)
4. Bentley Systems (US)
5. Sketchbox (US)
6. Finning International (Canada)
7. Oracle Corporation (US)
8. NVIDIA Corporation (US)
9. IBM Corporation (US)
10. Boston Dynamics (US)
11. Procore Technologies (US)
Europe
1. RIB Software (Germany)
2. Trimble Navigation (UK)
3. Dassault Systèmes (France)
4. Bouygues Construction (France)
5. ABB (Switzerland)
6. Siemens AG (Germany)
7. Schneider Electric (France)
8. Skanska (Sweden)
9. Strabag SE (Austria)
10. Skanska AB (Sweden)
Asia Pacific
1. China State Construction Engineering Corporation (China)
2. Baidu (China)
3. Komatsu (Japan)
4. Mitsubishi Heavy Industries (Japan)
5. Samsung C&T (South Korea)
6. Buildots (Israel)
7. Constructive AI (Australia)
8. Wizdom (India)
9. Hitachi Construction Machinery (Japan)
10. Hyundai Engineering & Construction (South Korea)
11. L&T Construction (India)
12. China Communications Construction Company (China)
13. Fujita Corporation (Japan)

For more information about this report visit: https://www.maximizemarketresearch.com/market-report/artificial-intelligence-ai-construction-market/11440/


Table of content for the Artificial Intelligence (AI) Construction Market includes:

Global Artificial Intelligence (AI) Construction Market : Research Methodology
Global Artificial Intelligence (AI) Construction Market : Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Artificial Intelligence (AI) Construction Market : Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:

Past Market Size and Competitive Landscape
Artificial Intelligence (AI) Construction Market Size, Share, Size & Forecast by different segment |
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Artificial Intelligence (AI) Construction Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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