How large is the ai in construction market, and what is its growth trajectory?
The AI in construction market size has grown exponentially in recent years. It will grow from $1.76 billion in 2024 to $2.29 billion in 2025 at a compound annual growth rate (CAGR) of 30.0%. The growth in the historic period can be attributed to efficiency improvements, cost reduction, data analytics, automation in construction processes, safety enhancement.
The AI in construction market size is expected to see exponential growth in the next few years. It will grow to $7.21 billion in 2029 at a compound annual growth rate (CAGR) of 33.2%. The growth in the forecast period can be attributed to predictive maintenance, increased adoption of drones, AI-driven project risk management, supply chain optimization, augmented reality (AR) applications. Major trends in the forecast period include autonomous construction equipment, predictive analytics for project management, computer vision for site monitoring, collaborative robots (cobots), energy efficiency and sustainable construction.
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Which major factors have contributed to the expansion of the ai in construction market?
The increase in infrastructure projects is expected to propel the growth of artificial intelligence (AI) in the construction market going forward. An infrastructure project is one that involves the development of new road infrastructure or a significant alteration to an existing network that affects traffic flow. Artificial intelligence (AI) is useful in infrastructure projects because it refers to the use of advanced technologies and algorithms to improve various aspects of the project’s lifecycle, allowing for more efficient design, planning, operation, and management of building infrastructure initiatives. As a result, the adoption of AI in construction is expected to grow as the industry seeks innovative solutions to meet the demands of infrastructure development. For instance, in September 2024, according to the United States Census Bureau, a US-based government agency, construction spending during July 2024 was estimated at a seasonally adjusted annual rate of $2,162.7. billion, 6.7 percent±1.8 percent) above the July 2023 estimate of $2,027.4 billion. During this period, construction spending amounted to $1,237.5 billion, 8.8 percent (±1.2 percent) above the $1,137.4 billion for the same period in 2023. Therefore, the increase in infrastructure projects is driving the growth of artificial intelligence (AI) in the construction market going forward.
How is the ai in construction market segmented?
The AI in construction market 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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Who are the top competitors in the ai in construction market?
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 key trends are expected to influence the ai in construction market in the coming years?
Major companies operating in artificial intelligence (AI) in the construction market are adopting new technologies to sustain their position in the market. For instance, in December 2022, PCL Construction, a Canada-based construction company, launched the AI Surveyor, a platform for new construction technology. AI Surveyor, a platform for revolutionary construction technology, was launched. AI Surveyor is a construction technology platform that automates the reporting of construction infrastructure development through the use of artificial intelligence and strong GIS analytics. Data is collected by UAV and entered into the AI Surveyor system, which gives reporting on daily progress in the field via specialized Key Performance Indicator (KPI) monitoring and indicates potential deviations for additional assessment. Previously, this process was done manually, demanding additional labor and equipment expenses. This procedure can be expedited and made more efficient by using an AI surveyor, as well as by providing project teams with accurate information and statistics for the development of their project.
Which regional trends are influencing the ai in construction market, and which area dominates the industry?
The countries covered in the AI in construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The AI in Construction Market Report 2025 Offer?
The ai in construction market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
AI in construction refers to the application of artificial intelligence (AI) tools and methods in the construction sector to provide an up-close view of all activities going on on-site. AI could be used to optimize energy efficiency, indoor air quality, and other performance indicators by analyzing data from building systems.
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