Artificial Intelligence (AI) in Construction Market by Technology, Stage, Component, Application, Deployment Type, Organization Size, Industry Type (Residential, Institutional Commercial, and Heavy Construction), and Region - Global Forecast to 2023
[150 Pages Report] The rising demand for Artificial Intelligence (AI)-based solutions and platforms, the need for more safety measures at construction sites, and the ability of the AI in construction solutions to reduce the production costs are expected to drive the growth of the AI in construction market. MarketsandMarkets expects the global market to grow from USD 329.3 Million in 2017 to USD 1,831.0 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 35.1% during the forecast period. The base year considered for the study is 2017, and the forecast period is 20182023.
The objective of the report is to define, describe, and forecast the size of the AI in construction market on the basis of technologies, stages, components (solutions and services), applications, deployment types, organization size, industry types, and regions. The report also aims at providing detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
The research methodology used to estimate and forecast the global AI in construction market size began with capturing the data from the key vendor revenues through secondary research, annual reports, government publishing sources, IEEE, Factiva, Bloomberg, and press releases. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall global market size from the revenues of the key market players. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key individuals, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments. The breakdown of the profiles of the primary participants has been depicted in the figure given below:
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The AI in construction market includes various AI vendors, such IBM (US), Microsoft (US), Oracle (US), SAP (Germany), Alice Technologies (US), eSUB (US), Smartvid.io(US), Aurora Computer Services(England), Autodesk (US), and Building System Planning (US).
The Target Audience of the AI in Construction Market Report are Listed Below:
- AI in construction solution vendors
- Mobile device manufacturers
- AI in construction service providers
- Application developers
- System integrators
- Information Technology (IT) developers
- Third-party vendors
- Infrastructure providers
- AI end-users in the construction industry
- Government agencies and organizations
- Regulatory and compliance agencies
The study answers several questions for the stakeholders, primarily, which market segments to focus on in the next 2 to 5 years for prioritizing efforts and investments.
Scope of the AI in Construction Market Report
|
Report Metric |
Details |
|
Market size available for years |
20162023 |
|
Base year considered |
2017 |
|
Forecast period |
20182023 |
|
Forecast unit |
Value (USD) |
|
Segments covered |
Technology, Stage, Component, Application, Deployment Type, Organization Size, Industry Type & Region |
|
Geographies covered |
North America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA) |
|
Companies covered |
IBM (US), Microsoft (US), Oracle (US), SAP (Germany), Alice Technologies (US), eSUB (US), Smartvid.io(US), Aurora Computer Services(England), Autodesk (US), and Building System Planning (US) |
The AI in construction market has been segmented on the basis of technologies, stages, components (solutions and services), applications, deployment types, organization size, industry types, and regions:
Market By Technology
- Machine learning and deep learning
- Natural Language Processing (NLP)
AI in Construction Market By Stage
- Pre-construction
- Construction stage
- Post-construction
AI in Construction Market By Component
- Solutions
- Design and planning
- Revenue estimation
- Virtual assistant
- Demand forecasting
- Predictive maintenance
- Others (root cause analysis and customer/buyer analysis)
- Services
- Integration and deployment
- Training and consulting
- Support and maintenance
AI in Construction Market By Application
- Project management
- Field management
- Risk management
- Schedule management
- Supply chain management
- Others (equipment and construction materials management, resource management, subcontractor management, and cost management)
AI in Construction Market By Deployment Type
- Cloud
- On-premises
Market By Industry Type
- Small and Medium-sized Enterprises (SMEs)
- Large enterprises
AI in Construction Market By Organization Size
- Residential
- Institutional commercials
- Heavy construction
- Others (light industrial construction and specialized industrial construction)
AI in Construction Market By Region
- North America
- Europe
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakdown of the North American AI in construction market
- Further breakdown of the European market
- Further breakdown of the APAC market
- Further breakdown of the MEA market
Company Information
- Detailed analysis and profiling of additional market players
MarketsandMarkets expects the global Artificial Intelligence (AI) in construction market to grow from USD 407.2 Million in 2018 to USD 1,831.0 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 35.1% during the forecast period. The rising demand for AI-based solutions and platforms, the need for more safety measures at construction sites, and the capabilities of AI solutions and services to reduce the production costs are expected to drive the growth of the AI in construction market.
The component segment has been further segmented into solutions and services. The solutions segment is expected to have the larger market size. AI in construction solutions play a vital role in the efficient and effective functioning of construction businesses using Natural Language Processing (NLP); and machine learning and deep learning technologies. AI-based solutions are required to revolutionize the way the construction industry functions. These solutions also help the construction industry familiarize itself with advanced technologies and assist professionals in saving their time in the process of decision-making.
Among technologies, the machine learning and deep learning segment is expected to have the larger market size. Due to the growing need to analyze dark data and automate business functions, the use of machine learning and deep learning technologies has increased manifold in the construction industry. Many construction companies are deploying AI-based solutions to attain benefits.
The AI in construction market has also been segmented on the basis of applications. The project management segment is expected to have the largest market size. This application is the first most important phase of planning a construction project. It involves drafting of the proposal, managing the designing stage, and documenting funds, loans, and other minute details that are related to the project.
On the basis of deployment types, the cloud deployment type is expected to grow at a higher CAGR during the forecast period. This deployment type is simple and cost-effective for use in applications.
North America is expected to have the largest market size in the AI in construction market while Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. Construction companies in the North American region have made huge investments in the market, and several vendors have evolved to cater to the rapidly growing market. Considerable growth is expected in the region during the forecast period. In North America, AI technologies are effectively used for various applications, such as project management, field management, risk management, schedule management, supply chain management, and others (equipment and construction materials management, resource management, subcontractor management, and cost management).
The AI in construction market faces many challenges, as it is one of the most fragmented industries and lacks skilled employees who can use AI in construction solutions.
The key vendors that offer AI in construction solutions across the globe include such IBM (US), Microsoft (US), Oracle (US), SAP (Germany), Alice Technologies (US), eSUB (US), Smartvid.io (US), Aurora Computer Services (England), Autodesk (US), and Building System Planning (US). These vendors have adopted organic and inorganic growth strategies, such as new product launches, partnerships and collaborations to expand their presence in the market.
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Table of Contents
1 Introduction (Page No. - 15)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Source: Industry Experts Key Industry Insights
2.2 AI in Construction Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Research Assumptions
2.4 Limitations
3 Executive Summary (Page No. - 25)
4 Premium Insights (Page No. - 29)
4.1 Attractive Market Opportunities in the AI in Construction Market
4.2 Market Top 3 Applications and Regions
4.3 Market Share By Application (2018 vs 2023)
4.4 Growth Rate of Construction Stages During the Forecast Period
5 AI in Construction Market Overview (Page No. - 32)
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Need for More Safety Measures at Construction Sites
5.1.1.2 Need to Reduce Production Costs
5.1.2 Restraints
5.1.2.1 Lesser R&D Investments in Technology
5.1.3 Opportunities
5.1.3.1 High Demand for Integrated Ai in Construction Solutions
5.1.3.2 Increasing Need for Intelligent Business Process
5.1.4 Challenges
5.1.4.1 Monitoring the Highly Unstructured Jobsite Environments
5.1.4.2 Scarcity of Skilled Employees and Workers
5.2 Use Cases
5.2.1 Use Case 1: Komatsu and Nvidia
5.2.2 Use Case 2: Al-Sheraa in Dubai
5.2.3 Use Case 3: China-Linux Foundation
5.2.4 Use Case 4: Zanker Recycling
6 AI in Construction Market By Technology (Page No. - 37)
6.1 Introduction
6.2 Machine Learning and Deep Learning
6.3 Natural Language Processing
7 Market By Stage (Page No. - 42)
7.1 Introduction
7.2 Pre-Construction
7.3 Construction Stage
7.4 Post-Construction
8 AI in Construction Market By Component (Page No. - 46)
8.1 Introduction
8.2 Solutions
8.2.1 Design and Planning
8.2.2 Revenue Estimation
8.2.3 Virtual Assistant
8.2.4 Demand Forecasting
8.2.5 Predictive Maintenance
8.2.6 Others
8.3 Services
8.3.1 Integration and Deployment
8.3.2 Training and Consulting
8.3.3 Support and Maintenance
9 AI in Construction Market By Application (Page No. - 57)
9.1 Introduction
9.2 Project Management
9.3 Field Management
9.4 Risk Management
9.5 Schedule Management
9.6 Supply Chain Management
9.7 Others
10 Market By Deployment Type (Page No. - 63)
10.1 Introduction
10.2 Cloud
10.3 On-Premises
11 AI in Construction Market By Organization Size (Page No. - 67)
11.1 Introduction
11.2 Small and Medium-Sized Enterprises
11.3 Large Enterprises
12 Market By Industry Type (Page No. - 71)
12.1 Introduction
12.2 Residential
12.3 Institutional Commercials
12.4 Heavy Construction
12.5 Others
13 AI in Construction Market By Region (Page No. - 76)
13.1 Introduction
13.2 North America
13.3 Europe
13.4 Asia Pacific
13.5 Middle East and Africa
14 Competitive Landscape (Page No. - 101)
14.1 Overview
14.2 Competitive Situation and Trends
14.2.1 New Product Launches
14.2.2 Agreements, Partnerships, and Collaborations
14.2.3 Mergers and Acquisitions
15 Company Profiles (Page No. - 106)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
15.1 IBM
15.2 Microsoft
15.3 Oracle
15.4 SAP
15.5 Alice Technologies
15.6 eSUB
15.7 SmarTVid.Io
15.8 DarKTrace
15.9 Aurora Computer Services
15.10 Autodesk
15.11 Jaroop
15.12 Lili.Ai
15.13 Predii
15.14 Assignar
15.15 Deepomatic
15.16 Coins Global
15.17 Beyond Limits
15.18 Doxel
15.19 Askporter
15.20 Plangrid
15.21 Renoworks Software
15.22 Building System Planning
15.23 Bentley Systems
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
16 Appendix (Page No. - 140)
16.1 Insights of Industry Experts
16.2 Discussion Guide
16.3 Knowledge Store: Marketsandmarkets Subscription Portal
16.4 Introducing RT: Real-Time Market Intelligence
16.5 Related Reports
16.6 Author Details
List of Tables (78 Tables)
Table 1 AI in Construction Market Size, By Technology, 20162023 (USD Million)
Table 2 Machine Learning and Deep Learning: Market Size By Region, 20162023 (USD Million)
Table 3 Natural Language Processing: Market Size By Region, 20162023 (USD Million)
Table 4 AI in Construction Market Size By Stage, 20162023 (USD Million)
Table 5 Pre-Construction: Market Size By Region, 20162023 (USD Million)
Table 6 Construction Stage: Market Size By Region, 20162023 (USD Million)
Table 7 Post-Construction: Market Size By Region, 20162023 (USD Million)
Table 8 AI in Construction Market Size, By Component, 20182023 (USD Million)
Table 9 Solutions: Market Size By Region, 20182023 (USD Million)
Table 10 Solutions: Market Size By Type, 20182023 (USD Million)
Table 11 Design and Planning Market Size, By Region, 20182023 (USD Million)
Table 12 Revenue Estimation Market Size, By Region, 20152023 (USD Million)
Table 13 Virtual Assistant Market Size, By Region, 20152023 (USD Million)
Table 14 Demand Forecasting Market Size, By Region, 20152023 (USD Million)
Table 15 Predictive Maintenance Market Size, By Region, 20152023 (USD Million)
Table 16 Others Market Size, By Region, 20152023 (USD Million)
Table 17 Services: AI in Construction Market Size, By Type, 20152023 (USD Million)
Table 18 Integration and Deployment Market Size, By Region, 20152023 (USD Million)
Table 19 Training and Consulting Market Size, By Region, 20152023 (USD Million)
Table 20 Support and Maintenance Market Size, By Region, 20152023 (USD Million)
Table 21 AI in Construction Market Size By Application, 20162023 (USD Million)
Table 22 Project Management: Market Size By Region, 20162023 (USD Million)
Table 23 Field Management: Market Size By Region, 20162023 (USD Million)
Table 24 Risk Management: Market Size By Region, 20162023 (USD Million)
Table 25 Schedule Management: Market Size By Region, 20162023 (USD Million)
Table 26 Supply Chain Management: Market Size By Region, 20162023 (USD Million)
Table 27 Others: Market Size By Region, 20162023 (USD Million)
Table 28 AI in Construction Market Size, By Deployment Type, 20162023 (USD Million)
Table 29 Cloud: Market Size By Region, 20162023 (USD Million)
Table 30 On-Premises: Market Size By Region, 20162023 (USD Million)
Table 31 AI in Construction Market Size By Organization Size, 20162023 (USD Million)
Table 32 Small and Medium-Sized Enterprises: Market Size By Region, 20162023 (USD Million)
Table 33 Large Enterprises: Market Size By Region, 20162023 (USD Million)
Table 34 AI in Construction Market Size By Industry Type, 20162023 (USD Million)
Table 35 Residential: Market Size By Region, 20162023 (USD Million)
Table 36 Institutional Commercials: Market Size By Region, 20162023 (USD Million)
Table 37 Heavy Construction: Market Size By Region, 20182023 (USD Million)
Table 38 Others: Market Size By Region, 20162023 (USD Million)
Table 39 AI in Construction Market Size, By Region, 20162023 (USD Million)
Table 40 North America: Market Size By Technology, 20162023 (USD Million)
Table 41 North America: Market Size By Stage, 20162023 (USD Million)
Table 42 North America: Market Size By Component, 20162023 (USD Million)
Table 43 North America: Market Size By Solution, 20162023 (USD Million)
Table 44 North America: Market Size By Service, 20162023 (USD Million)
Table 45 North America: Market Size By Application, 20162023 (USD Million)
Table 46 North America: Market Size By Deployment Type, 20162023 (USD Million)
Table 47 North America: Market Size By Organization Size, 20162023 (USD Million)
Table 48 North America: Market Size By Industry Type, 20162023 (USD Million)
Table 49 Europe: AI in Construction Market Size, By Technology, 20162023 (USD Million)
Table 50 Europe: Market Size By Stage, 20162023 (USD Million)
Table 51 Europe: Market Size By Component, 20162023 (USD Million)
Table 52 Europe: Market Size By Solution, 20162023 (USD Million)
Table 53 Europe: Market Size By Service, 20162023 (USD Million)
Table 54 Europe: Market Size By Application, 20162023 (USD Million)
Table 55 Europe: Market Size By Deployment Type, 20162023 (USD Million)
Table 56 Europe: Market Size By Organization Size, 20162023 (USD Million)
Table 57 Europe: Market Size By Industry Type, 20162023 (USD Million)
Table 58 Asia Pacific: AI in Construction Market Size By Technology, 20162023 (USD Million)
Table 59 Asia Pacific: Market Size By Stage, 20162023 (USD Million)
Table 60 Asia Pacific: Market Size By Component, 20162023 (USD Million)
Table 61 Asia Pacific: Market Size By Solution, 20162023 (USD Million)
Table 62 Asia Pacific: Market Size By Service, 20162023 (USD Million)
Table 63 Asia Pacific: Market Size By Application, 20162023 (USD Million)
Table 64 Asia Pacific: Market Size By Deployment Type, 20162023 (USD Million)
Table 65 Asia Pacific: Market Size By Organization Size, 20162023 (USD Million)
Table 66 Asia Pacific: Market Size By Industry Type, 20162023 (USD Million)
Table 67 Middle East and Africa: AI in Construction Market Size, By Technology, 20162023 (USD Million)
Table 68 Middle East and Africa: Market Size By Stage, 20162023 (USD Million)
Table 69 Middle East and Africa: Market Size By Component, 20162023 (USD Million)
Table 70 Middle East and Africa: Market Size By Solution, 20162023 (USD Million)
Table 71 Middle East and Africa: Market Size By Service, 20162023 (USD Million)
Table 72 Middle East and Africa: Market Size By Application, 20162023 (USD Million)
Table 73 Middle East and Africa: Market Size By Deployment Type, 20162023 (USD Million)
Table 74 Middle East and Africa: Market Size By Organization Size, 20162023 (USD Million)
Table 75 Middle East and Africa: Market Size By Industry Type, 20162023 (USD Million)
Table 76 New Product Launches, 20162018
Table 77 Agreements, Partnerships, and Collaborations, 20162017
Table 78 Mergers and Acquisitions, 20162017
List of Figures (37 Figures)
Figure 1 AI in Construction Market Segmentation
Figure 2 Market Research Design
Figure 3 Breakdown of Primaries: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 AI in Construction Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Research Assumptions
Figure 8 AI in Construction Market Snapshot, By Solution (20182023)
Figure 9 Market Snapshot By Application (20182023)
Figure 10 Market Snapshot By Stage (20182023)
Figure 11 Market Snapshot By Region
Figure 12 Proliferation in Data Generation and Need for Safety at Jobsites are Expected to Propel the Adoption of Ai in Construction Solutions and Services
Figure 13 Project Management Application and North American Region are Estimated to Have the Largest Market Shares in 2017
Figure 14 Project Management Application is Expected to Have the Largest Market Share During the Forecast Period
Figure 15 Construction Stage is Expected to Create Opportunities for Ai in Construction Vendors During the Forecast Period
Figure 16 AI in Construction Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Natural Language Processing Technology is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 18 Construction Stage is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 19 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 20 Training and Consulting Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Field Management Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Cloud Deployment Type is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 23 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 24 Residential Segment is Expected to Grow at the Fastest CAGR During the Forecast Period
Figure 25 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 Asia Pacific is Expected to Be the Emerging Region in the AI in Construction Market
Figure 27 North America: Market Snapshot
Figure 28 Asia Pacific: AI in Construction Market Snapshot
Figure 29 Companies Adopted New Product Launches as the Key Growth Strategy From 2015 to 2017
Figure 30 IBM: Company Snapshot
Figure 31 IBM: SWOT Analysis
Figure 32 Microsoft: Company Snapshot
Figure 33 Microsoft: SWOT Analysis
Figure 34 Oracle: Company Snapshot
Figure 35 Oracle: SWOT Analysis
Figure 36 SAP: Company Snapshot
Figure 37 SAP: SWOT Analysis
Growth opportunities and latent adjacency in Artificial Intelligence (AI) in Construction Market