Evolving Market Trends In The AI in Construction Industry: PCL Construction Introduces AI Surveyor For Efficient Project Monitoring And Reporting

The AI in Construction Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected AI in Construction Market Size During the Forecast Period?
The market size for Artificial Intelligence in the construction sector has seen dramatic growth recently. It is projected to increase from $1.76 billion in 2024 to $2.29 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 30.0%. This substantial growth during the historical period is due to factors such as efficiency enhancements, cost savings, data analysis, automation of construction procedures, and improved safety measures.

Expectations are high for the AI in construction market size to experience tremendous growth in the coming years. The market is projected to escalate to $7.21 billion by 2029, with a compound annual growth rate (CAGR) of 33.2%. Factors contributing to this potential growth during the forecast period include predictive maintenance, widespread adoption of drones, AI-operated project risk management, enhancements in supply chain, and applications of augmented reality (AR). Noteworthy trends during this forecast period encompass autonomous construction gear, predictive analytics in project management, computer vision for site supervision, cooperative robots (cobots), as well as improvements in energy efficiency and sustainable construction.

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What Are the High-Growth Segments in the AI in Construction Market?
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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What Key Drivers Are Expected to Influence Future AI in Construction Market Growth?
The growth of artificial intelligence (AI) in the construction sector is set to be propelled by the surge in infrastructure projects. By definition, an infrastructure project encompasses the creation of fresh road infrastructure or considerable alterations to the existing ones that result in changes to traffic flow. AI comes in handy in these projects since it utilizes sophisticated technologies and algorithms to enhance numerous aspects of the project's lifecycle. This paves the way for better design, planning, operation, and control of building infrastructure undertakings. Consequently, the construction industry is anticipated to increasingly embrace AI as they seek out innovative solutions to fulfill infrastructure development requirements. To illustrate, the United States Census Bureau, a governmental body based in the US, reported in September 2024 that construction expenditure in July 2024 was projected to be at a seasonally adjusted annual rate of $2,162.7 billion. This estimate was 6.7 percent±1.8 percent} higher than the $2,027.4 billion estimated for July 2023. Construction spending during this timeframe reached $1,237.5 billion, which was 8.8 percent (±1.2 percent) more than the $1,137.4 billion recorded in the same period in 2023. Thus, the rising number of infrastructure projects has been identified as a key driver for the advancement of AI within the construction market.

Which Companies Hold the Largest Share Across Different AI in Construction Market Segments?
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

What Trends Are Driving Growth in The AI in Construction Market?
Leading corporations in the artificial intelligence (AI) sector within the construction industry are incorporating novel technologies to maintain their market stance. For example, PCL Construction, hailing from Canada, introduced the AI Surveyor, a groundbreaking platform in construction technology, in December 2022. The AI Surveyor is an innovative construction tech platform that automates the tracking of construction infrastructure progress through the application of AI and robust GIS analytics. The system accumulates data using UAVs, which is then processed by the AI Surveyor to present day-to-day progress reports in the field with specialized KPI tracking. It also flags any potential discrepancies for further examination. While this monitoring was previously executed manually requiring additional manpower and equipment costs, AI Surveyor allows for streamlined and efficient process completion. It also supplies the project teams with precise data and statistics for their project evolution.

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What Are the Emerging Geographies for The AI in Construction Market Growth?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AI in Construction Market?
2. What is the CAGR expected in the AI in Construction Market?
3. What Are the Key Innovations Transforming the AI in Construction Industry?
4. Which Region Is Leading the AI in Construction Market?

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