In its research report, Market Research Future (MRFR), asserts that the Global AI in Construction Market Forecast 2020 is slated to grow exponentially over the review period, securing a considerable market valuation of USD 2.01 billion, and a healthy 35% CAGR over the review period.
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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.).
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-premise.
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 geographical overview of the global market has been analysed 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.
The global AI in Construction Market Research Trends has been affected due to the lockdown across the regions. This pandemic situation has hampered the AI in Construction Market Research Growth as well as its productivity, supply chain, and others. Moreover, the global market has lost its investors due to the increasing loss for the products, supply, transportation, workforce, and others. However, in the meantime, the key market players have implied various strategic techniques to boost global market growth. Thus, to meet the global market demands, the global market increased its speed in producing more valuable products for its intended customers. Recently, the global market has stabilized its position in the global market and is expected to register a higher AI in Construction Market Research Size for the forecast period.
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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
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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