Artificial Intelligence (AI) in Construction Market to Grow by USD 2.32 Bn, Vendors to Deploy Growth Strategies Such as Technological Innovations – Technavio – QNT Press Release


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:

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
    • Software
    • Services
    • Hardware

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
    • North America
    • Europe
    • APAC
    • Middle East And Africa
    • South America

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.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. Download a FREE Sample Report

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) Market in BFSI Sector by Service and Geography – Forecast and Analysis 2022-2026: The artificial intelligence (AI) market share in the BFSI sector is expected to increase by USD 32.97 billion from 2021 to 2026.

Artificial intelligence (AI) in the social media market by Application and Geography – Forecast and Analysis 2022-2026: Artificial intelligence (AI) in social media market share is expected to increase by USD 3.66 billion from 2021 to 2026.

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

Full story available on Benzinga.com



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