Global AI in Construction Market Size study, by Solution (Project Management, Risk Management, Schedule Management, Supply Chain Management, Others), by Deployment (Cloud, On-premises), by Construction Stage (Pre-construction, Construction, Post-construct

Global AI in Construction Market Size study, by Solution (Project Management, Risk Management, Schedule Management, Supply Chain Management, Others), by Deployment (Cloud, On-premises), by Construction Stage (Pre-construction, Construction, Post-construction), by Construction Type (Residential, Industrial, Commercial, Infrastructure) and Regional Forecasts 2022-2032

Global AI in Construction Market is valued at approximately USD 3.20 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 24.4% over the forecast period 2024-2032. AI in construction encompasses deploying advanced artificial intelligence technologies, such as machine learning, computer vision, and natural language processing, to optimize various aspects of construction work. This includes improving project management, risk management, schedule management, supply chain management, quality management, and safety management. The market is driven by the increasing demand for efficiency, cost reduction, enhanced safety, and sustainability across construction projects.

The rising adoption of AI-based solutions for predictive analytics and risk management is driving the market's growth. Construction firms are leveraging advanced machine learning algorithms to analyze extensive datasets, including project schedules, budgets, material usage, and performance metrics. By identifying patterns and correlations within this data, AI algorithms can forecast potential risks and delays in construction projects. This proactive risk management approach helps minimize delays, cost overruns, and disruptions, ensuring project success. The growing need for enhanced efficiency and productivity within the construction sector serves as a primary driver propelling the AI in construction market growth. AI-powered solutions leverage advanced technologies to automate tasks, analyze extensive datasets, and facilitate real-time decision-making. By optimizing project planning, scheduling, risk management, quality control, and safety hazard monitoring, construction companies can execute projects more efficiently, meet deadlines, adhere to budgets, and deliver high-quality results. Moreover, the introduction of advanced algorithms for boosting creativity and efficiency, as well as increasing adoption of AI in emerging economies present various lucrative opportunities over the forecast years. However, the concerns regarding privacy, security, and liability, as well as high initial investments and perceived risks are challenging the market growth throughout the forecast period of 2024-2032.

The key regions considered for the Global AI in Construction Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global AI in Construction Market in terms of revenue. The market growth in the region is being attributed to factors including its highly developed construction industry with a strong emphasis on innovation and technology adoption. The region's investment in AI research and development fosters the creation of advanced solutions tailored to the construction sector's needs. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by rapid urbanization, infrastructure development, and increasing investment in construction projects. The availability of skilled labor, emerging technologies, and government initiatives promoting digital transformation further propel the adoption of AI in construction across the region.

Major market players included in this report are:
ALICE Technologies Inc. (U.S.)
Dassault Systèmes (France)
Oracle Corporation (U.S.)
Trimble Inc. (U.S.)
Komatsu (Japan)
Procore Technologies, Inc. (U.S.)
Doxel (U.S.)
Autodesk (U.S.)
SAP SE (Germany)
Bentley Systems (U.S.)
Smartvid.io, Inc.
PlanGrid, Inc.
Dusty Robotics, Inc.
Newmetrix
Disperse.io Ltd.

The detailed segments and sub-segment of the market are explained below:
By Solution
Project Management
Risk Management
Schedule Management
Supply Chain Management
Others (Quality Management, Safety Management)

By Deployment
Cloud
On-premises

By Construction Stage
Pre-construction
Construction
Post-construction

By Construction Type
Residential
Industrial
Commercial
Infrastructure

By Region:
North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico
Rest of Latin America

Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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