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

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Nov 01, 2022, 02:00 ET

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.

Technavio has announced its latest market research report titled Global Artificial Intelligence (AI) in Construction Market 2022-2026

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) 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

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Solution
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market Definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Solution

5.1 Market segments

Exhibit 24: Chart on Solution - Market share 2021-2026 (%)
Exhibit 25: Data Table on Solution - Market share 2021-2026 (%)

5.2 Comparison by Solution

Exhibit 26: Chart on Comparison by Solution
Exhibit 27: Data Table on Comparison by Solution

5.3 Software - Market size and forecast 2021-2026

Exhibit 28: Chart on Software - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Data Table on Software - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Chart on Software - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Software - Year-over-year growth 2021-2026 (%)

5.4 Services - Market size and forecast 2021-2026

Exhibit 32: Chart on Services - Market size and forecast 2021-2026 ($ million)
Exhibit 33: Data Table on Services - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Chart on Services - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Services - Year-over-year growth 2021-2026 (%)

5.5 Hardware - Market size and forecast 2021-2026

Exhibit 36: Chart on Hardware - Market size and forecast 2021-2026 ($ million)
Exhibit 37: Data Table on Hardware - Market size and forecast 2021-2026 ($ million)
Exhibit 38: Chart on Hardware - Year-over-year growth 2021-2026 (%)
Exhibit 39: Data Table on Hardware - Year-over-year growth 2021-2026 (%)

5.6 Market opportunity by Solution

Exhibit 40: Market opportunity by Solution ($ million)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 42: Chart on Market share by geography 2021-2026 (%)
Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 44: Chart on Geographic comparison
Exhibit 45: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026

Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026

Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 APAC - Market size and forecast 2021-2026

Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.6 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.7 South America - Market size and forecast 2021-2026

Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026

Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 UK - Market size and forecast 2021-2026

Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ million)
Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ million)
Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.11 Germany - Market size and forecast 2021-2026

Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.12 Japan - Market size and forecast 2021-2026

Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography

Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 87: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 89: Overview on factors of disruption

9.4 Industry risks

Exhibit 90: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 91: Vendors covered

10.2 Market positioning of vendors

Exhibit 92: Matrix on vendor position and classification

10.3 ALICE Technologies

Exhibit 93: ALICE Technologies - Overview
Exhibit 94: ALICE Technologies - Product / Service
Exhibit 95: ALICE Technologies - Key offerings

10.4 Amazon.com Inc.

Exhibit 96: Amazon.com Inc. - Overview
Exhibit 97: Amazon.com Inc. - Business segments
Exhibit 98: Amazon.com Inc. - Key news
Exhibit 99: Amazon.com Inc. - Key offerings
Exhibit 100: Amazon.com Inc. - Segment focus

10.5 Aurora

Exhibit 101: Aurora - Overview
Exhibit 102: Aurora - Product / Service
Exhibit 103: Aurora - Key offerings

10.6 Autodesk Inc.

Exhibit 104: Autodesk Inc. - Overview
Exhibit 105: Autodesk Inc. - Business segments
Exhibit 106: Autodesk Inc. - Key news
Exhibit 107: Autodesk Inc. - Key offerings
Exhibit 108: Autodesk Inc. - Segment focus

10.7 Bentley Systems Inc.

Exhibit 109: Bentley Systems Inc. - Overview
Exhibit 110: Bentley Systems Inc. - Product / Service
Exhibit 111: Bentley Systems Inc. - Key offerings

10.8 Doxel Inc.

Exhibit 112: Doxel Inc. - Overview
Exhibit 113: Doxel Inc. - Product / Service
Exhibit 114: Doxel Inc. - Key offerings

10.9 International Business Machines Corp.

Exhibit 115: International Business Machines Corp. - Overview
Exhibit 116: International Business Machines Corp. - Business segments
Exhibit 117: International Business Machines Corp. - Key offerings
Exhibit 118: International Business Machines Corp. - Segment focus

10.10 Microsoft Corp.

Exhibit 119: Microsoft Corp. - Overview
Exhibit 120: Microsoft Corp. - Business segments
Exhibit 121: Microsoft Corp. - Key news
Exhibit 122: Microsoft Corp. - Key offerings
Exhibit 123: Microsoft Corp. - Segment focus

10.11 Oracle Corp.

Exhibit 124: Oracle Corp. - Overview
Exhibit 125: Oracle Corp. - Business segments
Exhibit 126: Oracle Corp. - Key news
Exhibit 127: Oracle Corp. - Key offerings
Exhibit 128: Oracle Corp. - Segment focus

10.12 SAP SE

Exhibit 129: SAP SE - Overview
Exhibit 130: SAP SE - Business segments
Exhibit 131: SAP SE - Key news
Exhibit 132: SAP SE - Key offerings
Exhibit 133: SAP SE - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 134: Inclusions checklist

11.3 Currency conversion rates for US$

Exhibit 135: Currency conversion rates for US$

11.4 Research methodology

Exhibit 136: Research methodology
Exhibit 137: Validation techniques employed for market sizing
Exhibit 138: Information sources

11.5 List of abbreviations

Exhibit 139: List of abbreviations

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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.

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