In its research report, Market Research Future (MRFR), asserts that the AI in Construction Market 2020 is slated to grow exponentially over the review period, securing a considerable market valuation of USD 2.01 billion, and a healthy 35?GR over the review period.
Novel coronavirus has actually AI in Construction Market to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The AI in Construction Market is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
In a nutshell, COVID-19 impact on managed services has been fruitful, with the market growth enhanced than before. Given the prevalent lockdown situation, managed services vendors are now investing heavily in remote-centric worker solutions, which can make the market highly resilient in the coming years, even as the world is currently rushing to achieve a COVID-19 breakthrough.
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The AI in construction market is differentiated by component, technology, organization size, deployment, stage, and application.
On the basis of stage, the market is segmented into construction stage, pre-construction, and post-construction.
Based on the component, the AI in construction market is bifurcated as solutions and services. The solution segment is categorized as demand forecasting, virtual assistant, revenue estimation, design & planning, predictive maintenance, and others. The service sub-segment comprised implementation services, training & consulting, and other support services.
In terms of technology, the market is segregated into machine learning & deep learning, neural networks, and natural learning programming (NLP).
Based on the deployment, the market is divided into on-cloud and on-premises.
Based on the organization size, the market is bifurcated into large enterprises, and small & medium enterprise (SMEs).
On the basis of application, the market is categorized as, project management, schedule management, risk management, equipment management, building information management, and supply chain management.
The major market players operating in the global market as identified by MRFR are Oracle Corporation (U.S), IBM Corporation (U.S.), SAP SE (Germany), Alice Technologies.(U.S.), Microsoft Corporation (U.S.), Autodesk (U.S.), Aurora Computer Services(U.K), eSUB (U.S.), Smartvid.io(U.S.),and Building System Planning (U.S.).
Some other market players who are involved in AI construction market are Jaroop, Deepomatic, Lili.Ai, Predii, Assignar, Coins Global, Beyond Limits, Doxel Askporter, Bentley Systems, Plangrid, and Renoworks Software
The geographical overview of the global market has been analyzed in four major regions, comprising the Asia Pacific, North America, Europe, and the rest of the world.
On the building industry, North America is believed to have substantial growth in the AI, with the U.S. and Canada being the sector leading countries. Regional domination is due to increased investment by companies such as IBM Corporation, Oracle Corporation and many others, which invest directly in the advancement of technologies such as neural networks and machine learning in research and development.
However, Asia Pacific is also expected to experience a strong market growth rate. The leading countries in this field are China, Japan, South Korea and India. The market growth is due to rise in demand by the region to improve smart city projects which require better facilities that boost the real estate sector.
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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List of Tables
Table1 Global AI In Construction Market: By Region, 2020-2027
Table2 North America AI In Construction Market: By Country, 2020-2027
Table3 Europe AI In Construction Market: By Country, 2020-2027
List of Figures
FIGURE 1 Global AI In Construction Software Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global AI In Construction Software Market
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