Artificial Intelligence in Construction Market Size, Trends & Analysis – Forecasts To 2025

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GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS Ankita Roy, Treesha Banerjee and
Liza Dsouza from Global Market Estimates throw
the spotlight on the growing Artificial
Intelligence in Construction Market. Market
Insights The global Artificial Intelligence in
construction market is expected to grow at a high
CAGR over the forecast period. The growing trend
of digitization coupled with rising demand for
renovation and construction activities across
the world is anticipated to be one of the major
factors influencing the market growth. The
market is also expected to be influenced by
increasing application of big data technology and
industrial IoT in the construction industry.
Moreover, extensive usage of drones and robotics
are also likely to stimulate the market growth
over the coming years. However, the slow adoption
of technology among the manufacturers is likely
to hinder the growth of artificial intelligence
in construction industry.
Artificial Intelligence in Construction Market
Offering Insights The global Artificial
Intelligence in construction market, by offering,
is segregated into hardware, software, and
services. The software segment held the largest
share of the AI in manufacturing market in 2016.
The presence of major software companies coupled
with growing demand for software-based AI
solutions are likely to propel the market growth
over the coming years.
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GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS Artificial Intelligence in
Construction Market Technology Insights The
global AI in construction market is divided into
computer vision, deep learning, natural language
processing, and context awareness. Computer
vision accounted for maximum market share in 2016
due to its simpler faster processing,
reliability, and accuracy among others. The
demand has also significantly increased by
increasing use of computer vision by companies to
manage huge volumes of data for predictive
analysis. Artificial Intelligence in
Construction Market Application Insights The
global AI in construction market is segmented
predictive maintenance, field services, quality
check, material movement, production planning,
and reclamation. The predictive maintenance
segment recorded the largest share in 2016 due to
growing use of computer vision by companies
along with increased deployment of robots,
autonomous vehicles, and safety sensors in
construction fields. Artificial Intelligence
in Construction Market Regional Insights Asia
Pacific is expected to grow at the highest CAGR
over the forecast period. The regional growth is
attributed to growing number of infrastructural
activities as well as the population in China,
Japan, and Australia. North America accounted
for the maximum market share in 2016 due to the
presence of major AI manufacturers across the
region. The U.S. has been one of the largest
contributors to the overall regional growth. The
market is further expected to be driven by cross
industry participation in the construction indust
ry.
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• GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
• Artificial Intelligence in Construction Market
  End-Use Landscape
• The end-use landscape entails a list of current
  and prospective consumers prevailing across the
  regions. This section provides company addresses,
  contact details, products, and regional presence
  of companies who are purchasing or are likely to
  purchase AI in construction over the coming
  years. Some of leading consumers of AI in
  construction market are Balfour Beatty, Vinci,
  Grupo ACS, Bechtel, Hochtief, Skanska, Bouygues
  Construction, Kiewit, Royal BAM Group, and Laing
  ORourke.
• Artificial Intelligence in Construction Market
  Vendor Landscape
• The report contains a chapter dedicated to
  vendors operating in the market, covering raw
  material manufactures, equipment developers,
  manufacturers, and distributors. The report
  provides these insights on a regional level.
  This section of the report entails contact
  details, experience, products manufactured/suppli
  ed, and geographical presence of companies.
• Artificial Intelligence in Construction Market
  Share Competitor Analysis
• Key players operating in the global AI in
  construction market include APROPLAN S.A.,
  Microsoft Corporation, Siemens AG, Intel
  Corporation, Nvidia Corporation, Alphabet Inc.,
  IBM Corporation, Cisco Systems, Inc., Oracle
  Corporation, and SAP SE.
• The report segments the Artificial Intelligence
  in Construction Market on the basis of By
  Offering
• Hardware

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• GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
• By Application
• Predictive Maintenance
• Field Services
• Quality Check
• Material Movement
• Production Planning
• Reclamation
• This article contains text from the Artificial
  Intelligence in Construction Market report
  prepared by Global Market Estimates. For more
  information or to buy the report, please visit
  https//www.globalmarketestimates.com/artificial-i
  ntelligence-construction-market/
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