Global Artificial Intelligence (AI) in Construction Market Growth (Status and Outlook) 2023-2029

Global Artificial Intelligence (AI) in Construction Market Growth (Status and Outlook) 2023-2029

Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. The term may also be applied to any machine that exhibits traits associated with a human mind such as learning and problem-solving.
Artificial intelligence has evolved with improved safety standards and assist in predicting hazards at construction sites before they take place. Therefore, the construction companies have leveraged the artificial intelligence technology in terms of predictive maintenance and risk management solutions. Also, the AI in the construction industry is highly adopted for the development of industrial internet of things (IIoT) based applications for construction sites. IIoT assists project managers with efficient outputs and reduced labor costs, which boosts the demand for artificial intelligence in the industry. Construction companies are focusing on investments in IIoT applications development to implement industry 4.0 and support full automation at their job sites.
The Artificial Intelligence (AI) in Construction industry can be broken down into several segments, Solution, Service, etc.
Across the world, the major players cover Autodesk, IBM, Microsoft, etc.
LPI (LP Information)' newest research report, the “Artificial Intelligence (AI) in Construction Industry Forecast” looks at past sales and reviews total world Artificial Intelligence (AI) in Construction sales in 2022, providing a comprehensive analysis by region and market sector of projected Artificial Intelligence (AI) in Construction sales for 2023 through 2029. With Artificial Intelligence (AI) in Construction sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Artificial Intelligence (AI) in Construction industry.
This Insight Report provides a comprehensive analysis of the global Artificial Intelligence (AI) in Construction landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Artificial Intelligence (AI) in Construction portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Artificial Intelligence (AI) in Construction market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Artificial Intelligence (AI) in Construction and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Artificial Intelligence (AI) in Construction.
The global Artificial Intelligence (AI) in Construction market size is projected to grow from US$ 997.7 million in 2022 to US$ 7064.1 million in 2029; it is expected to grow at a CAGR of 32.3% from 2023 to 2029.
In the global companies about the artificial Intelligence (AI) in construction, the IBM had the maximum market share with over 32% in 2019.
Between the two types of breakdown about artificial Intelligence (AI) in construction, the solution held more market share with around 67% in 2019.
This report presents a comprehensive overview, market shares, and growth opportunities of Artificial Intelligence (AI) in Construction market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Solution
Service
Segmentation by application
Project Management
Field Management
Risk Management
Schedule Management
Other
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Autodesk
IBM
Microsoft
Oracle
SAP

Please note: The report will take approximately 2 business days to prepare and deliver.