Artificial Intelligence in Construction Market is Expected to Generate $8.6 Billion by 2031: Allied Market Research

Advertisement

Surge in demand for data integration and visual analytics drive the global artificial intelligence in construction market. In 2020, economic slowdown has affected the setup of new artificial intelligence in construction projects across the world as the majority of government funding was diverted toward the healthcare sector to save the lives of people. Based on region, North America held the largest share in 2021.

Portland, OR , Nov. 21, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global artificial intelligence in construction market garnered $496.4 million in 2021, and is estimated to generate $8.6 billion by 2031, manifesting a CAGR of 34.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

Download Free Sample Report at:

https://www.alliedmarketresearch.com/request-sample/13361

Report coverage & details:

Report Coverage Details
Forecast Period 2022­–2031
Base Year 2021
Market Size in 2021 $496.4 million
Market Size in 2031 $8.6 billion
CAGR 34.1%
No. of Pages in Report 280
Segments covered Offerings, Deployment Type, Organization Size, Industry Type, and Region.
Drivers Surge in demand for data integration and visual analytics
Opportunities Rise in research & development activities
Strategies by key market players such as product launches, mergers & acquisitions, collaborations, partnerships, and refurbishing of existing technology
Restraints Shortage of competent personnel

Covid-19 Scenario:

  • The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global artificial intelligence in construction market, owing to implementation of global lockdown.
  • Stringent travel regulations and social distancing norms imposed due to the COVID-19 pandemic led to the complete shutdown of construction activities. All the industrial, as well as commercial sectors, were closed. These factors have hampered the growth of artificial intelligence in construction market.
  • Significant reduction in the cash flows due to the closure of various construction and operational activities, led to the stoppage of construction activities. These factors negatively impacted the AI in construction market growth.
  • Economic slowdown has affected the setup of new artificial intelligence in construction projects across the world as the majority of government funding was diverted toward the healthcare sector to save the lives of people.

The research provides detailed segmentation of the global artificial intelligence in construction market based on offerings, deployment type, organization size, industry type, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on offerings, the solutions segment held the highest share in 2021, accounting for more than half of the global artificial intelligence in construction market. However, the services segment is expected to continue its leadership status during the forecast period and is likely to register the highest CAGR of 35.7% from 2022 to 2031.

Based on deployment type, the on-premises segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global artificial intelligence in construction market. However, the cloud segment is expected to continue its leadership status during the forecast period and is likely to manifest the highest CAGR of 36.9% from 2022 to 2031.

Based on organization size, the large enterprises segment accounted for the highest share in 2021, holding three-fourths of the global artificial intelligence in construction market, and is expected to continue its leadership status during the forecast period. However, the SMEs segment is estimated to grow at the highest CAGR of 38.6% during the forecast period.

Based on region, North America held the largest share in 2021, contributing to more than one-third of the global artificial intelligence in construction market share, and is projected to maintain its dominant share in terms of revenue in 2031. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 34.9% during the forecast period. The research also analyzes regions including Europe and LAMEA.

Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/13361

Leading market players of the global artificial intelligence in construction market analyzed in the research include Autodesk, Inc., IBM, Microsoft Corporation, Oracle Corporation, SAP, aurora computer services, Building System Planning Inc., PTC Inc., NVIDIA Corporation, Dassault Systemes SE.

The report provides a detailed analysis of these key players of the global artificial intelligence in construction market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Buy this Report at:

https://www.alliedmarketresearch.com/checkout-final/e605d4c4ff6ecc293f93ec7ac9642fc6

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

CONTACT: Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com/reports-store/information-and-communication-technology-and-media Follow Us on Blog: https://www.technologyplz.com/ 

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More