Artificial Intelligence in Construction Market by Component, Capabilities, Construction Stage, Deployment Type, Application

Description

List of Tables

The Artificial Intelligence in Construction Market was valued at USD 1.52 billion in 2023, expected to reach USD 1.92 billion in 2024, and is projected to grow at a CAGR of 27.67%, to USD 8.42 billion by 2030.

The scope and definition of artificial intelligence (AI) in construction encompass the deployment of machine learning algorithms, computer vision, robotics, and data analytics to streamline operations, enhance design accuracy, and improve productivity across construction projects. The necessity for AI emerges from a demand to address critical inefficiencies, reduce costs, and mitigate safety risks prevalent within the construction industry. AI applications are advancing plan optimization, predictive maintenance, risk management, and autonomous machinery operation, providing transformative benefits particularly in project management and resource allocation. Key end-use scopes include commercial, residential, and infrastructure sectors, all of which increasingly rely on AI for evolving their building and development projects. Market insights suggest that factors such as the integration of Internet of Things (IoT), government support for smart city initiatives, and a heightened focus on sustainable construction are driving market growth. The rise in digital twin technology and AI's role in sustainability projects present new potential opportunities, urging companies to invest in these technologies to attain a competitive edge. However, limitations such as high upfront costs, data privacy concerns, industry resistance to change, and the current lack of standardized protocols for AI implementation pose significant challenges. Companies are recommended to focus on enhancing AI interpretable models and improving ROI transparency to overcome skepticism. Innovation opportunities lie in developing AI systems for real-time data processing, adaptive machine learning models, and integrated AI solutions for lifecycle management of construction projects. Research in AI-enabled smart contracts and predictive analytics for supply chains can also pave the way for business growth. The market is inherently dynamic with uncertain timelines, requiring constant adaptation; companies well-positioned for the adaptive use of AI are likely to experience the most significant benefits amid evolving technological landscapes.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.52 billion
Estimated Year [2024]	USD 1.92 billion
Forecast Year [2030]	USD 8.42 billion
CAGR (%)	27.67%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Artificial Intelligence in Construction Market

The Artificial Intelligence in Construction Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rise in building and construction activities worldwide
- Demand to improve project efficiency and productivity of construction processes
- Utilization of predictive analytics for project planning and risk mitigation
Market Restraints
- High initial investment and implementation of AI systems in construction
Market Opportunities
- Significant advancements in AI technology
- Emerging use for real-time monitoring and analysis of construction sites
Market Challenges
- Data breach and privacy concerns associated with the use of AI technology in construction

Porter's Five Forces: A Strategic Tool for Navigating the Artificial Intelligence in Construction Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Artificial Intelligence in Construction Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Artificial Intelligence in Construction Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Artificial Intelligence in Construction Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Artificial Intelligence in Construction Market

A detailed market share analysis in the Artificial Intelligence in Construction Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Artificial Intelligence in Construction Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Artificial Intelligence in Construction Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Artificial Intelligence in Construction Market

A strategic analysis of the Artificial Intelligence in Construction Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Artificial Intelligence in Construction Market, highlighting leading vendors and their innovative profiles. These include ALICE Technologies Inc., Askporter, Autodesk Inc., Bentley Systems Inc., buildAI, COINS Global by The Access Group, Dassault Systemes S.E, Deepomatic, Doxel Inc., eSUB, Inc., IBM Corporation, Invonto LLC, NVIDIA Corporation, Oracle Corporation, PTC Inc., Renoworks Software Inc., SAP SE, SmartInside AI Inc., and TAVCO Services, Inc..

Market Segmentation & Coverage

This research report categorizes the Artificial Intelligence in Construction Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Component, market is studied across Service and Solution.
Based on Capabilities, market is studied across Asset Management, Project Management, Risk Management, Schedule Management, and Supply Chain Management.
Based on Construction Stage, market is studied across Construction-Stage, Post-Construction, and Pre-Construction.
Based on Deployment Type, market is studied across On-Cloud and On-Premises.
Based on Application, market is studied across Commercial, Public Infrastructure, and Residential.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-69324464D1B2

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rise in building and construction activities worldwide
  - 5.1.1.2. Demand to improve project efficiency and productivity of construction processes
  - 5.1.1.3. Utilization of predictive analytics for project planning and risk mitigation
- 5.1.2. Restraints
  - 5.1.2.1. High initial investment and implementation of AI systems in construction
- 5.1.3. Opportunities
  - 5.1.3.1. Significant advancements in AI technology
  - 5.1.3.2. Emerging use for real-time monitoring and analysis of construction sites
- 5.1.4. Challenges
  - 5.1.4.1. Data breach and privacy concerns associated with the use of AI technology in construction
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Artificial Intelligence in Construction Market, by Component

6.1. Introduction
6.2. Service
6.3. Solution

7. Artificial Intelligence in Construction Market, by Capabilities

7.1. Introduction
7.2. Asset Management
7.3. Project Management
7.4. Risk Management
7.5. Schedule Management
7.6. Supply Chain Management

8. Artificial Intelligence in Construction Market, by Construction Stage

8.1. Introduction
8.2. Construction-Stage
8.3. Post-Construction
8.4. Pre-Construction

9. Artificial Intelligence in Construction Market, by Deployment Type

9.1. Introduction
9.2. On-Cloud
9.3. On-Premises

10. Artificial Intelligence in Construction Market, by Application

10.1. Introduction
10.2. Commercial
10.3. Public Infrastructure
10.4. Residential

11. Americas Artificial Intelligence in Construction Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Artificial Intelligence in Construction Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Artificial Intelligence in Construction Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
14.4. Strategy Analysis & Recommendation

Companies Mentioned

1. ALICE Technologies Inc.
2. Askporter
3. Autodesk Inc.
4. Bentley Systems Inc.
5. buildAI
6. COINS Global by The Access Group
7. Dassault Systemes S.E
8. Deepomatic
9. Doxel Inc.
10. eSUB, Inc.
11. IBM Corporation
12. Invonto LLC
13. NVIDIA Corporation
14. Oracle Corporation
15. PTC Inc.
16. Renoworks Software Inc.
17. SAP SE
18. SmartInside AI Inc.
19. TAVCO Services, Inc.