Global AI in Construction Market Projected to Surpass $7.21 Billion by 2029 with 33.2% Annual Growth

What combination of drivers is leading to accelerated growth in the ai in construction market?
The upsurge in infrastructure projects is anticipated to be a significant propellant for elevating the influence of artificial intelligence (AI) in the construction industry. An infrastructure project broadly encompasses either the construction of fresh road networks or major alterations to pre-existing ones that subsequently impacts traffic circulation. Artificial intelligence (AI) plays a pivotal role in such projects as it involves the usage of high-end technologies and sophisticated algorithms to enhance various dimensions of a project's lifespan, thereby making the design, planning, operational, and management aspects of building infrastructure initiatives more streamlined. Consequently, the utilization of AI in construction is predicted to escalate as the sector explores innovative solutions to suit the necessities of infrastructure augmentation. For example, as reported by the United States Census Bureau, a government agency based in the US, the construction expenditure in July 2024 was on a seasonally adjusted yearly rate of $2,162.7 billion, 6.7 percent±1.8 percent) more than the July 2023 estimate of $2,027.4 billion. Between this phase, the construction spend was $1,237.5 billion, 8.8 percent (±1.2 percent) more than the $1,137.4 billion during the same span in 2023. Thus, the escalation in infrastructure projects is a driving impetus for the expansion of artificial intelligence (AI) in the construction sector in the future.

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What is the projected compound annual growth rate (CAGR) of the ai in construction market from 2025 to 2034, and what factors influence it?
The significant growth of the AI in construction market has been observed in the recent past; it's set to increase from $1.76 billion in 2024 to $2.29 billion in 2025, expanding at a compounded annual growth rate (CAGR) of 30.0%. The substantial growth during the historical period is credited to enhanced efficiency, reduced costs, advanced data analytics, increased automation in construction procedures, and better safety measures.

Anticipated to experience significant expansion in the forthcoming years, the market size of AI in construction is predicted to reach $7.21 billion in 2029, growing at a compound annual growth rate (CAGR) of 33.2%. The growth during this forecast period can be linked to factors such as the use of predictive maintenance, higher utilization of drones, risk management in projects through AI, optimization of supply chain, and the application of augmented reality (AR). Autonomous construction equipment, project management through predictive analytics, site monitoring via computer vision, the cooperation of robots (cobots), and the focus on energy efficiency and sustainable construction will be some of the major trends observed during this period.

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What are the emerging trends shaping the future of the ai in construction market?
Prominent corporations in the artificial intelligence (AI) in construction market are adopting cutting-edge technologies to keep a strong hold on their market position. One example took place in December 2022, when PCL Construction, a construction firm based in Canada, rolled out the AI Surveyor, a new construction technology platform. The AI Surveyor, an innovative construction technology platform, was introduced. This construction tech platform leverages AI and robust GIS analytics to automate report generation on infrastructure development. Data is amassed by Unmanned Aerial Vehicles (UAV) and fed into the AI Surveyor system, and this system provides day-to-day progress updates through specialized Key Performance Indicator (KPI) tracking, and can flag potential irregularities for further examination. This process was formerly executed manually, requiring more labor and equipment costs. However, deploying an AI surveyor can fast-track this process and make it more efficient, providing project teams with exact data and trends for their project development.

What are the major segments of the ai in construction market and their role in driving growth?
The AI in construction market covered in this report is segmented -

1) By Component: Solutions, Services
2) By Stage: Pre-Construction, Construction Stage, Post-Construction
3) By Deployment Type: Cloud, On-Premises
4) By Application: Project Management, Field Management, Risk Management, Schedule Management, Supply Chain Management, Other Applications
5) By Industry Type: Heavy Construction, Institutional Commercials, Residential, Other Industry Types

Subsegments:
1) By Solutions: Project Management Software, Building Information Modeling (BIM) Tools, Predictive Analytics for Construction Scheduling, AI-Based Design Tools, Safety Management Solutions
2) By Services: Consulting Services For AI Implementation, Training And Education Services, Maintenance and Support Services, Custom AI Development Services, Integration Services For Existing Systems

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Which regions are key players in the growth of the ai in construction market?
North America was the largest region in the AI in construction market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global AI in construction market report during the forecast period. The regions covered in the AI in construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the ai in construction market?
Major companies operating in the AI in construction market include Microsoft Corporation, Oracle Corporation, SAP SE, Nvidia Corporation, AECOM Technical Services Inc., Acciona S.A., Dassault Systèmes SE, Autodesk Inc., Trimble Inc., PTC Inc., Bentley Systems Incorporation, Procore Technologies Inc., OpenSpace Inc., Dusty Robotics Inc., Doxel Inc., Versatile Inc., Alice Technologies Inc., Deepomatic Inc, Smartvid.io Inc., eSUB Inc., Kwant.AI inc., Nyfty.AI inc., Built Robotics Inc., Newmetrix, Caidio Inc., Buildots, AirWorks LLC

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What Is Covered In The AI in Construction Global Market Report?

• Market Size Forecast: Examine the ai in construction market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ai in construction market for a structured understanding.
• Key Players Overview: Analyze major players in the ai in construction market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai in construction market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ai in construction market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai in construction market.
• Industry Challenges: Identify potential risks and obstacles affecting the ai in construction market.
• Competitive Landscape: Review strategic developments in the ai in construction market, including expansions, agreements, and new product launches.

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