Emerging Trends to Reshape the Global AI In Construction Market: PCL Construction Introduces AI Surveyor For Efficient Project Monitoring And Reporting as a Key Influencer

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AI In Construction Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of AI in construction has expanded significantly in the last few years. We predict that it will escalate from a valuation of $1.76 billion in 2024 to a much larger figure of $2.28 billion in 2025, maintaining a compound annual growth rate (CAGR) of 29.3%. Factors such as improved efficiency, cost-cutting, data analytics, process automation in construction, and enhanced safety measures have been fundamental in the historical period's growth.

AI In Construction Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for the ai in construction market size, with a predicted surge in growth over the coming years. The market is projected to expand to a staggering $7.11 billion by 2029, enjoying a compound annual growth rate (CAGR) of 33.0%. Several factors contribute to this projected growth within the forecast period, such as predictive maintenance, widespread drone adoption, AI-fuelled risk management for projects, supply chain streamlining, and applications of augmented reality (AR). Key trends for the forecast period include autonomous construction machinery, predictive analytics in project management, computer-captured site monitoring, the teamwork of robots (cobots), along with energy efficiency and sustainable construction.

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What Are the Drivers Transforming the AI In Construction Market?
The growth of artificial intelligence (AI) in the construction sector is predicted to be fuelled by an expansion in infrastructure projects. Infrastructure projects typically involve constructing new road networks or making significant modifications to existing ones that influence traffic movement. AI finds application in these ventures as advanced technologies and algorithms enhance various stages of the project lifecycle, facilitating improved design, planning, operation, and maintenance of construction infrastructure schemes. Consequently, as the sector looks for novel ways to address infrastructure development requirements, it is anticipated that the use of AI in construction will increase. For example, data from the United States Census Bureau, a government agency in the US, indicates that in September 2024, construction expenditure in July 2024 was projected at a seasonally adjusted annual rate of $2,162.7 billion, 6.7 percent±1.8 percent higher than the $2,027.4 billion estimate for July 2023. In this duration, construction expenditures reached $1,237.5 billion, 8.8 percent (±1.2 percent) more than the $1,137.4 billion for the comparable phase in 2023. As such, the surge in infrastructure projects directly propels the advancement of artificial intelligence (AI) in the construction industry.

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What Long-Term Trends Will Define the Future of the AI In Construction Market?
Top-tier companies in the AI-in-construction industry are integrating new technologies to maintain their market leadership. For example, in December 2022, AI Surveyor, a platform for ground-breaking construction technology, was introduced by PCL Construction, a construction firm based in Canada. AI Surveyor leverages artificial intelligence and robust GIS analytics to automate the reporting of construction infrastructure progression. Data acquisition is performed by UAV and processed by the AI Surveyor system, providing daily field updates via specialized Key Performance Indicator (KPI) monitoring and highlighting potential discrepancies for further analysis. Traditionally, this task was performed manually, requiring additional labor and equipment costs. With the use of AI Surveyor, this process can be accelerated and enhanced, providing project teams with precise data and statistics for their project's progression.

Which Segments in the AI In Construction Market Offer the Most Profit Potential?
The ai in constructionmarket 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 Firms Dominate the AI In Construction Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in 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.

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