Artificial Intelligence (AI) in Construction Global Report 2024: Market to Reach $12.1 Billion by 2030 - How BIM (Building Information Modeling) Integration Expands Scope - ResearchAndMarkets.com

The "Artificial Intelligence (AI) in Construction - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Artificial Intelligence (AI) in Construction was estimated at US$1.8 Billion in 2023 and is projected to reach US$12.1 Billion by 2030, growing at a CAGR of 31.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Artificial intelligence is revolutionizing the construction industry, introducing advanced automation, predictive analytics, and precision management that are fundamentally changing how projects are planned, executed, and maintained. AI is employed in construction operations to streamline project management, automate repetitive tasks, and enhance on-site safety. One primary application is in project planning and scheduling, where AI algorithms analyze historical project data to create realistic timelines and anticipate potential delays, enabling better resource allocation and cost control.

The growth in the AI in construction market is driven by several factors, including advancements in digital technology, the demand for efficiency and sustainability, and evolving industry regulations. One of the primary drivers is the rapid development of AI technology, which has lowered costs and made these tools more accessible to construction firms of all sizes. The increasing adoption of cloud computing and edge processing allows construction sites to leverage real-time data analysis, supporting advanced AI applications on-site without requiring extensive infrastructure investments.

Another key factor is the industry's need to address labor shortages and rising labor costs; AI-driven robotics and automation help fill this gap by performing tasks that are labor-intensive, allowing firms to complete projects faster and with fewer resources. The growing focus on sustainability in construction, driven by regulatory requirements and consumer demand for environmentally friendly practices, is also propelling AI adoption. AI-powered design tools, energy-efficient material recommendations, and predictive maintenance of building systems align with these sustainability goals.

Additionally, heightened health and safety regulations are pushing companies to adopt AI for proactive safety management, as AI-based monitoring can improve compliance with evolving standards. Together, these technological, economic, and regulatory factors are driving AI integration in construction, making it an indispensable component in modernizing an industry that faces unique challenges in efficiency, safety, and sustainability.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Artificial Intelligence (AI) in Construction Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Artificial Intelligence (AI) in Construction Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Scope of the Study

• The report analyzes the Artificial Intelligence (AI) in Construction market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.
• Component (Solutions, Services); Stage (Pre-Construction, Construction-Stage, Post-Construction); Application (Project Management, Asset Management, Risk Management, Other Applications); End-Use (Heavy Construction, Residential, Public Infrastructure, Other End-Uses)
• World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Solutions Component segment, which is expected to reach US$8.0 Billion by 2030 with a CAGR of a 30.5%. The Services Component segment is also set to grow at 32.1% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $530.1 Million in 2023, and China, forecasted to grow at an impressive 29.9% CAGR to reach $1.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Key Attributes:

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Global Economic Update
• Artificial Intelligence (AI) in Construction - Global Key Competitors Percentage Market Share in 2024 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

• Rising Demand for Automation and Efficiency Drives Growth of AI in Construction
• Increasing Focus on Safety and Risk Management Spurs Adoption of AI-Powered Solutions
• Here`s How Predictive Analytics in AI Reduces Project Delays and Enhances Construction Planning
• Growing Use of Drones and AI for Site Monitoring Expands Market for AI in Construction
• Technological Advancements in Machine Learning Enhance Accuracy in Construction Quality Control
• Rising Labor Shortages Drive Demand for AI and Robotics in Construction Automation
• Here`s How BIM (Building Information Modeling) Integration Expands Scope of AI in Construction Projects
• Growing Adoption of Smart and Sustainable Building Practices Supports AI in Green Construction
• Focus on Reducing Waste and Enhancing Resource Management Propels AI-Driven Efficiency Solutions
• Increasing Investment in Digital Twin Technology Boosts AI Applications for Real-Time Construction Insights
• Here`s How AI-Powered Safety Monitoring Systems Enhance Worker Safety in High-Risk Environments
• Growing Application of Computer Vision in Site Surveillance and Quality Inspection Fuels Market Growth
• Advances in Predictive Maintenance for Construction Equipment Support Long-Term AI Integration
• Rising Demand for Cost Optimization and Budget Forecasting Expands Use of AI in Construction Management
• Focus on Data-Driven Decision Making Sustains Long-Term Growth in AI-Powered Construction Analytics

FOCUS ON SELECT PLAYERS: Some of the 251 companies featured in this Global Artificial Intelligence (AI) in Construction Market report include:

• Alice Technologies
• Askporter
• Assignar
• Aurora Computer Services
• Autodesk
• Bentley Systems
• Beyond Limits
• Building System Planning
• Coins Global
• DarKTrace
• Deepomatic
• Doxel
• eSUB
• IBM
• Jaroop
• Lili.Ai
• Microsoft
• Oracle
• Plangrid
• Predii
• Renoworks Software
• SAP
• SmarTVid.Io

For more information about this report visit https://www.researchandmarkets.com/r/rn3ke0

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View source version on businesswire.com: https://www.businesswire.com/news/home/20241219368089/en/