Artificial Intelligence in Construction Market Insights

The artificial intelligence in construction market is experiencing significant growth and is poised for further expansion, driven by factors such as the increasing adoption of AI-driven solutions to improve operational efficiency, project management, and safety.

Market Size and Growth Projections

The AI in construction market is projected to grow from USD 0.47 Billion in 2023 to USD 2.60 billion by 2030, at a CAGR of 33.20% during the forecast period (2023 - 2030).  

North America accounted for a significant share of the revenue in 2022, with the region benefiting from advanced technological infrastructure and a strong focus on innovation. The market in North America is expected to witness continued growth, driven by the demand for sustainable and smart construction practices, cost reduction, and a supportive regulatory environment .

The market is expected to demonstrate the highest CAGR in the Asia-Pacific (APAC) region, reflecting the increasing investments in IIoT and industrial automation in this region .

Market Segmentation and Key Players

The AI in construction market is segmented by component, deployment model, organization size, application, and end user, with key players including major companies operating in the AI in construction market, such as those offering solutions for design and planning, revenue estimation, virtual assistant, demand forecasting, predictive maintenance, and related services .

The market is witnessing a surge in strategic partnerships between technology providers, construction companies, and research institutions, further fueling the growth of AI in construction across various regions .

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Industry Applications and Use Cases

AI in construction is being applied across various stages, including pre-construction, construction stage, and post-construction, with applications spanning project management, field management, risk management, schedule management, and supply chain management .

The use of AI in construction extends to managing the entire supply chain process to detect potential issues and ensure timely and quality project delivery, reflecting the diverse applications of AI in the construction industry .

In summary, the AI in construction market is witnessing substantial growth, driven by the increasing adoption of AI-driven solutions to enhance operational efficiency, project management, and safety. The market is characterized by strong growth projections, with North America and the Asia-Pacific region playing significant roles in the market's expansion.

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