The growing need for safety measures due to increasing accidents at construction sites is prime factor driving the demand for Artificial Intelligence (AI) in Construction industry. In addition, the need for intelligent business processes is expected to offer growth opportunities for the market.
Adroit Market Research study on the global market for Artificial Intelligence (AI) in Construction offers a holistic view of the industry from 2020 to 2028 as forecast period, including factors such as market drivers, limitations, opportunities, threats and regulatory overview. The market has been analyzed from 2018 to 2028, with a base year estimate of 2019 and a projection from 2020 to 2028. The report covers the current status and potential characteristics of the market at both the global and the country level. Moreover, the report also assesses market competition with Porter's analysis of five strengths and places leading players on the basis of their product range, regional presence, strategic initiatives and overall sales. Prominent players in the global composite resin market have been analyzed in depth.
In application, project management dominated the market as companies are primarily using it at each stage of construction like pre-construction phase, mid- construction phase, and even post- construction phase. AI powered project management is rapidly being adopted by the construction companies as majority of the companies are trying to cut down costs on over-budget construction plans. In addition, due to its automation capabilities, it can boost efficiency and productivity of numerous building processes that comprise, contract & sourcing management, proposal management, virtual construction & design, and planning & designing. Moreover, constructors are also using it for post-construction processes as it helps in managing smart buildings, real estates, and facilities management.
Due to the rising population, the demand for homes is rising at unpreceded rate across Asia-Pacific region. In addition, Asia-Pacific is emerging as construction hub as many foreign investors are setting up their business plants in countries such as Japan, India, China, and others. From 2018 to 2028, Asia-Pacific is expected to have the highest market growth in Artificial Intelligence (AI) in Construction. On the contrary, North America dominated the Artificial Intelligence (AI) in Construction market owing to growing adoption of industrial automation and increasing investment in IIoT.
- key players of global Artificial Intelligence (AI) in construction market report include- Alice Technologies, Autodesk, Aurora Computer Services, Building System Planning, Darktrace, eSUB, IBM, Microsoft, Oracle, SAP, and others.
Key Segments of the Global Artificial Intelligence (AI) in Construction Market
Component, 2018-2028 (USD Million)
- Design and Planning
- Virtual Assistant
- Demand Forecasting
- Predictive Maintenance
- Revenue Estimation
Application, 2018-2028 (USD Million)
- Field management
- Schedule management
- Project management
- Supply chain management
- Risk management
End Users 2018-2028 (USD Million)
- Institutional commercials
- Industrial construction
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America