NEW YORK, Nov. 1, 2022 /PRNewswire/ — The global AI in the construction market is moderately concentrated with a high number of international players and a few small-scale regional players. Players in the market are focusing on developing a variety of technologies to retain their market shares. Key players are concentrating on implementing new data mining techniques and embedding AI into IoT analytics, which will create a new platform for construction companies to gain insights from IoT-generated data. The market comprises several other prominent vendors that account for significant market shares. The market is driven by innovation, and therefore, the threat of new entrants is high. Many players are merging to sustain themselves in the competitive market or introduce new technologies.
The artificial intelligence (AI) in construction market is expected to grow by USD 2.32 billion during 2021-2026. In addition, the growth momentum of the market will accelerate at a CAGR of 29.81% during the forecast period, according to Technavio.
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Artificial Intelligence (AI) in Construction Market 2022-2026: Scope
The artificial intelligence (AI) in construction market report covers the following areas:
Artificial Intelligence (AI) in Construction Market size
Artificial Intelligence (AI) in Construction Market trends
Artificial Intelligence (AI) in Construction Market industry analysis
This study identifies automatic updating and building of projects as one of the prime reasons driving artificial intelligence (AI) in the construction market growth during the next few years.
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Artificial Intelligence (AI) in Construction Market 2022-2026: Segmentation
Artificial Intelligence (AI) in Construction Market is segmented as below:
Solution
Artificial intelligence (AI) in the construction market share growth by the software segment will be significant during the forecast period. The increasing globalization, growth of IT in the construction industry for decision management, adoption of machine learning platforms, text analytics, robotic process automation, image, and video analysis, deep learning, and speech recognition will drive the growth of the segment.
Geography
38% of the market’s growth will originate from North America during the forecast period. The US is the key market for artificial intelligence (AI) in the construction market in North America. The increase in the number of events such as global conferences, product launches, and product exhibitions and the rising rate of infrastructure development will facilitate artificial intelligence (AI) in construction market growth in North America over the forecast period.
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Artificial Intelligence (AI) in Construction Market 2022-2026: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the AI in the construction market, including ALICE Technologies, Amazon.com Inc., Aurora, Autodesk Inc., Bentley Systems Inc., Customindz Inc., Doxel Inc., eSUB Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Newmetrix, Oracle Corp., SAP SE, Siemens AG, and TUV SUD AG.
This report provides a full list of key vendors, their strategies, and the latest developments. Buy Now for detailed vendor information
Artificial Intelligence (AI) in Construction Market 2022-2026: Key Highlights
CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will assist artificial intelligence (AI) in construction market growth during the next five years
Estimation of the artificial intelligence (AI) in construction market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of artificial intelligence (AI) in the construction market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of artificial intelligence (AI) in construction market vendors
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Artificial Intelligence (AI) In Construction Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 29.81%
Market growth 2022-2026
USD 2.32 billion
Market structure
Fragmented
YoY growth (%)
28.99
Regional analysis
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution
North America at 38%
Key consumer countries
US, China, Japan, UK, and Germany
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
ALICE Technologies, Amazon.com Inc., Aurora, Autodesk Inc., Bentley Systems Inc., Customindz Inc., Doxel Inc., eSUB Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Newmetrix, Oracle Corp., SAP SE, Siemens AG, and TUV SUD AG
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table Of Contents :
1 Executive Summary
1.1 Market Overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market Definition
3.2 Market segment analysis
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
4 Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by Solution
5.1 Market segments
5.2 Comparison by Solution
5.3 Software – Market size and forecast 2021-2026
5.4 Services – Market size and forecast 2021-2026
5.5 Hardware – Market size and forecast 2021-2026
5.6 Market opportunity by Solution
6 Customer Landscape
6.1 Customer landscape overview
7 Geographic Landscape
7.1 Geographic segmentation
7.2 Geographic comparison
7.3 North America – Market size and forecast 2021-2026
7.4 Europe – Market size and forecast 2021-2026
7.5 APAC – Market size and forecast 2021-2026
7.6 Middle East and Africa – Market size and forecast 2021-2026
7.7 South America – Market size and forecast 2021-2026
7.8 US – Market size and forecast 2021-2026
7.9 China – Market size and forecast 2021-2026
7.10 UK – Market size and forecast 2021-2026
7.11 Germany – Market size and forecast 2021-2026
7.12 Japan – Market size and forecast 2021-2026
7.13 Market opportunity by geography
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges
8.4 Market trends
9 Vendor Landscape
9.1 Overview
9.2 Vendor landscape
9.3 Landscape disruption
9.4 Industry risks
10 Vendor Analysis
10.1 Vendors covered
10.2 Market positioning of vendors
10.3 ALICE Technologies
10.4 Amazon.com Inc.
10.5 Aurora
10.6 Autodesk Inc.
10.7 Bentley Systems Inc.
10.8 Doxel Inc.
10.9 International Business Machines Corp.
10.10 Microsoft Corp.
10.11 Oracle Corp.
10.12 SAP SE
11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
11.3 Currency conversion rates for US$
11.4 Research methodology
11.5 List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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