Artificial Intelligence

Global Artificial Intelligence (AI) in Construction Market 2019-2023 | Increasing Adoption of Cloud-Based Solutions to Boost Demand | Technavio


LONDON–()–The global artificial intelligence (AI) in construction market is
expected to post a CAGR of over 28% during the period 2019-2023,
according to the latest market research report by Technavio.
However, the market is expected to decelerate on a year-on-year basis
during the forecast period.

A key factor driving the growth of the global artificial intelligence
(AI) in construction market is the increase in the number of smart
connected devices. The adoption of smart devices is increasing rapidly
across the world, with the total number of installed smart devices
amounting to 21 billion by 2020. This is posing a new challenge for
organizations as they need to manage, monitor, and maintain the copious
amounts of data generated through smart devices. Thus, the need for
machine-to-machine and machine-to-human communications is expected to
increase significantly. Enterprises have experienced significant
improvements in business processes with the adoption of Al analytics
software and hardware, where close monitoring of business processes have
facilitated real-time decision making.

As per Technavio, the increasing adoption of cloud-based solutions will
have a positive impact on the market and contribute to its growth
significantly over the forecast period. This global
artificial intelligence (AI) in construction market 2019-2023

research report also analyzes other important trends and market drivers
that will affect market growth over 2018-2022.

This report is available at a USD 1,000 discount for a limited time
only:
View
market snapshot before purchasing

Global artificial intelligence (AI) in
construction market: Increasing adoption of cloud-based solutions

The adoption of cloud-based Al solutions is increasing significantly in
the construction industry to improve the capabilities of the existing
industrial systems. Al-as-a-service (AlaaS) is trending in the
construction sector as it offers benefits such as efficiency and
maintenance of a company’s sales and marketing department. Therefore,
the increasing adoption of cloud-based solutions will impact the growth
of the global AI in construction market during the forecast period.

“The growing population, increase in government spending, and the
constant economic growth is stimulating the significant growth in the
global construction market. Combine this with the growing investment in
smart cities and advanced technologies, the impressive growth in the
global construction market is offering tremendous growth opportunities
to the global AI in construction market,”
says a senior analyst at
Technavio.

Global artificial intelligence (AI) in
construction market: Segmentation analysis

This market research report segments the global artificial intelligence
(AI) in construction market by solution (software, services, and
hardware) and geographical regions (APAC, EMEA, and the Americas).

The EMEA region led the market in 2018, followed by the Americas and
APAC respectively. Although the APAC region held the smallest share of
the market in 2018, it is expected to register the highest incremental
growth during the forecast period.

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focus on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at media@technavio.com.



READ SOURCE

This website uses cookies. By continuing to use this site, you accept our use of cookies.