Augmented Reality (AR) in Construction - Thematic Research

Augmented Reality (AR) in Construction - Thematic Research

Summary

Augmented reality (AR) is a technology that allows the user to see the real world overlaid with digital data. The AR market was worth $9 billion in 2021, and GlobalData estimates it will grow to $150 billion by 2030. By the end of the decade, enterprise AR will account for 65% of global AR revenue, as enterprise AR headsets dominate the market. Construction businesses will adopt AR in the coming years, but the high cost of headsets and smart glasses will be a barrier to widespread adoption in the short term.

The construction industry has large and complex sites to manage, strict project deadlines, hazardous working conditions, and tight profit margins. It is under increasing pressure to improve ESG credentials and digitalize. The number of emerging AR use cases demonstrates that it has the potential to help address these challenges. This report will help companies to navigate and effectively adopt the new technology.

Key Highlights

• AR has the potential to be hugely beneficial to the construction industry, delivering tangible benefits to many stages in the construction value chain, from conceptual design through to operations and maintenance. AR allows multiple stakeholders to be consulted using in-situ augmented walkthroughs. It also supports collaborative design, progress monitoring, and improves user perception of models, ensuring any errors will surface early. Improved accuracy and earlier error detection limit rework, so fewer materials are required and costs are saved.
• Unity’s VisualLive, XYZ Reality’s Atom headset, and Visometry’s Twyn have been used in the construction sector to solve challenges such as error detection and rework costs, collaboration difficulties due to travel disruption, and model visualization.
• Leading AR adopters in construction include AECOM, Hyundai E&C, Koninklijke BAM, Laing O'Rourke, Larsen & Toubro, and VINCI. They have partnered with equipment manufacturers and specialist AR vendors, while also developing in-house expertise. Many have created apps to visualize models and help identify errors, or AR construction guides and wayfinding apps for external contractors. This helps to improve the utility and applications of digital twins and building information modeling (BIM).

• This report provides an overview of the augmented reality theme. The detailed value chain comprises five segments: semiconductors, components, devices, platforms, and applications and content. Leading and challenging vendors are identified across all five segments.
• It identifies construction challenges, such as ESG, sourcing, and safety, and an impact assessment of AR on the construction industry, addressing these challenges.
• It includes three case studies, outlining market-leading use cases of AR in construction to solve specific challenges.
• It contains comprehensive industry analysis, including forecasts for augmented reality revenues to 2030, and insight from GlobalData’s Job Analytics and Company Filings Analytics databases. It contains details of M&A deals driven by the augmented reality theme in construction, and a timeline highlighting milestones in the development of augmented reality.
• The report has extensive coverage and analysis of relevant companies’ positions in the AR theme. This includes leading adopters, vendors, and specialist AR vendors in construction.
• It includes GlobalData’s unique thematic scorecard that ranks construction companies according to their positioning in the ten themes most important to the industry, of which augmented reality is one.

• This report will help you to understand augmented reality and its potential impact on the construction sector.
• Benchmark your company against your competitors, by comparing how prepared 46 companies in the construction sector are for AR disruption.
• Identify and differentiate between the leading AR vendors and formulate an adoption plan for your company.
• Position yourself for future success by investing in the right AR technologies. Cut through the noise with GlobalData’s invest-explore-ignore ratings for each AR technology for each segment of the industry (conceptual design, feasibility studies, planning and permitting, financing, design and engineering, construction, and operations and maintenance).
• Develop relevant and credible sales and marketing messages for construction companies by understanding key industry challenges and where AR use cases are most useful.
• Identify attractive investment targets by understanding which companies are most advanced in the themes that will determine future success in the construction industry.