The latest research study released by HTF MI on AI in Construction Market with 123+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know-how of the current market development, landscape, sales, drivers, opportunities, market viewpoint and status. The market Study is segmented by key a region that is accelerating the marketization. AI in Construction study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
Key Players in This Report Include:
IBM (United States), Microsoft (United States), Oracle (United States), SAP (Germany), Alice Technologies (United States), eSUB (United States), Smartvid.io (United States), Aurora Computer Services(England), Autodesk (United States), Building System Planning (United States)
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“According to HTF Market Intelligence, the AI in Construction market size is estimated to reach by USD 8.6 Billion at a CAGR of 34.1% by 2030. The report includes historic market data from 2019 to 2023. The Current market value is pegged at USD 5.6 Billion.”
Definition:
AI is being used to analyze design data and provide insights into how buildings can be constructed more efficiently. It can also help architects and engineers to generate designs that are optimized for specific purposes, such as energy efficiency or structural stability.
Market Trends:
- The Growing Need for More Safety Measures at Construction Sites
Market Drivers:
- Rising Demand for AI-based Platforms and Solutions and Adoption of Industry 4.0 and IIoT
Market Opportunities:
- Increasing Construction Activities Due to Smart City Initiatives
Market Challenges:
- AI relies on large volumes of high-quality data for training and decision-making. In the construction industry, data is often fragmented and may not be readily available in digital formats. Ensuring data quality and accessibility can be a significant challenge.
- Implementing AI systems and technologies can be expensive. Smaller construction companies may find it challenging to invest in AI due to the high initial costs of hardware, software, and expertise.
- The construction industry may face a shortage of skilled personnel who can effectively work with AI technologies. Training the existing workforce or recruiting experts in AI can be difficult and costly.
Market Restraints:
- Resistance to change is common in many industries, and the construction sector is no exception. Convincing stakeholders to adopt AI and change their traditional practices can be a major challenge.
- AI can lead to job displacement, and there may be ethical concerns related to AI’s impact on the labor force. Addressing these concerns and ensuring a fair transition to AI technologies is important.
Major Highlights of the AI in Construction Market report released by HTF MI
Global AI in Construction Market Breakdown by Application (Project management, Field management, Risk management, Schedule management, Supply chain management, Others) by Type (Heavy Construction, Institutional Commercials, Residential, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Global AI in Construction market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to help the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.
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Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa(South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America(United States, Mexico & Canada)
- South America(Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe(Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific(Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Objectives of the Report
- To carefully analyse and forecast the size of the AI in Construction market by value and volume.
- To estimate the market shares of major segments of the AI in Construction
- To showcase the development of the AI in Construction market in different parts of the world.
- To analyse and study micro-markets in terms of their contributions to the AI in Construction market, their prospects, and individual growth trends.
- To offer precise and useful details about factors affecting the growth of the AI in Construction
- To provide a meticulous assessment of crucial business strategies used by leading companies operating in the AI in Construction market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
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Points Covered in Table of Content of Global AI in Construction Market:
AI in Construction Market Study Coverage:
• It includes major manufacturers, emerging player’s growth story, and major business segments of AI in Construction market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
• AI in Construction Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• AI in Construction Market Production by Region AI in Construction Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
• Key Points Covered in AI in Construction Market Report:
• AI in Construction Overview, Definition and Classification Market drivers and barriers
• AI in Construction Market Competition by Manufacturers
• AI in Construction Capacity, Production, Revenue (Value) by Region (2024-2030)
• AI in Construction Supply (Production), Consumption, Export, Import by Region (2024-2030)
• AI in Construction Production, Revenue (Value), Price Trend by Type {Review Management, Identity Monitoring, Search Engine Suppression, Internet Removal}
• AI in Construction Market Analysis by Application {SMEs, Large Enterprises}
• AI in Construction Manufacturers Profiles/Analysis AI in Construction Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
• Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
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Key questions answered
- How feasible is AI in Construction market for long-term investment?
- What are influencing factors driving the demand for AI in Construction near future?
- What is the impact analysis of various factors in the Global AI in Construction market growth?
- What are the recent trends in the regional market and how successful they are?
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