In-Depth Insights into the AI in Construction Market: Growth, Trends, and Opportunities for 2025-2034
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What fueled the previous growth in the ai in construction market?
The artificial intelligence (AI) market in the construction industry has experienced exponential growth in the past few years. The market value is expected to rise from $1.76 billion in 2024 to $2.29 billion in 2025, revealing a compound annual growth rate (CAGR) of 30.0%. Factors such as increased efficiency, cost reduction, advancements in data analytics, automation of construction procedures, and heightened safety measures contribute to its historic growth.
What will be the ai in construction market size in the future?
In the coming years, the radio station market size is projected to witness consistent expansion, increasing to $119.23 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 4.3%. The growth predictions for the period can be credited to aspects such as digital streaming and an online presence, podcasting and on-demand content, diversification of revenue sources, data-oriented content strategies, and community participation via social media. Key trends anticipated during the forecast period consist of adapting to mobile platform usage, creative ad models and revenue-generation strategies, focus on environmental and social duties, interactive contests and events, and localized advertising and collaborations.
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What main drivers are fueling expansion in the ai in construction market?
Advancements in infrastructure project implementation are predicted to boost the integration of artificial intelligence (AI) in the construction industry. Infrastructure projects typically include the establishment of new road networks or major alterations to existing networks impacting traffic movement. AI is a vital tool for these projects as it involves the application of cutting-edge technologies and computing strategies to enhance different stages of a project’s lifecycle. This facilitates more efficient design, planning, operation, and administration of building infrastructure projects. Consequently, the uptake of AI in construction is projected to rise as the sector pursues innovative solutions to fulfill infrastructure development needs. For example, the United States Census Bureau reported that as of September 2024, construction expenditure for July 2024 was projected to be at a seasonally adjusted annual rate of $2,162.7 billion, an increase of 6.7 percent ±1.8 percent from the July 2023 estimate of $2,027.4 billion. Construction spending for the same period totaled $1,237.5 billion, 8.8 percent (±1.2 percent) above the $1,137.4 billion for the corresponding period in 2023. As such, the escalation in infrastructure projects is a key driver in the expanding adoption of AI in the construction market in the future.
What key areas define the segmentation of the global ai in construction market?
The AI in construction market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Stage: Pre-Construction, Construction Stage, Post-Construction
3) By Deployment Type: Cloud, On-Premises
4) By Application: Project Management, Field Management, Risk Management, Schedule Management, Supply Chain Management, Other Applications
5) By Industry Type: Heavy Construction, Institutional Commercials, Residential, Other Industry Types
Subsegments:
1) By Solutions: Project Management Software, Building Information Modeling (BIM) Tools, Predictive Analytics for Construction Scheduling, AI-Based Design Tools, Safety Management Solutions
2) By Services: Consulting Services For AI Implementation, Training And Education Services, Maintenance and Support Services, Custom AI Development Services, Integration Services For Existing Systems
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Who are the dominant players expanding their reach in the ai in construction market?
Major companies operating in the AI in construction market include Microsoft Corporation, Oracle Corporation, SAP SE, Nvidia Corporation, AECOM Technical Services Inc., Acciona S.A., Dassault Systèmes SE, Autodesk Inc., Trimble Inc., PTC Inc., Bentley Systems Incorporation, Procore Technologies Inc., OpenSpace Inc., Dusty Robotics Inc., Doxel Inc., Versatile Inc., Alice Technologies Inc., Deepomatic Inc, Smartvid.io Inc., eSUB Inc., Kwant.AI inc., Nyfty.AI inc., Built Robotics Inc., Newmetrix, Caidio Inc., Buildots, AirWorks LLC
How are evolving market trends shaping ai in construction Strategies?
Key players in the AI in construction market are integrating new technologies to maintain dominance. For example, PCL Construction, a construction organization based in Canada, initiated the AI Surveyor, a new construction technology platform in December 2022. This innovative construction technology platform, AI Surveyor, accelerates the recording of construction infrastructure progress by leveraging artificial intelligence and robust GIS analytics. Unmanned aerial vehicles (UAVs) collect data which is incorporated into the AI Surveyor system, allowing for specialized Key Performance Indicator (KPI) monitoring and highlighting potential discrepancies for further analysis on daily progress on the job site. In the past, this task was labor-intensive requiring added labor and equipment costs. The use of an AI surveyor can expedite this process and enhance its efficiency while furnishing project teams with precise data and figures for their project’s evolution.
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Which regions are emerging as leaders in the ai in construction market?
North America was the largest region in the AI in construction market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global AI in construction market report during the forecast period. The regions covered in the AI in construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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