Artificial Intelligence (AI) in Construction Market Size- Detailed Analysis of Current Industry Figures with Forecasts Growth By 2028

An estimated 51.4% of the global population or 4 billion people was using internet by the end of 2019 – International Telecommunication Union (ITU)

In its market research collateral archive, CRIFAX added a report titled ‘Global Artificial Intelligence (AI) in Construction Market, 2021-2028′ which consists of the study of the growth strategies used by the leading players in the Artificial Intelligence (AI) in Construction industry to keep themselves ahead of the competition. In addition, the study also covers emerging trends, mergers and acquisitions, region-wise growth analysis, as well as the challenges that impact the growth of the market.

The growth of the global Artificial Intelligence (AI) in Construction market worldwide is largely driven by the increasing number of technical developments in different industries around the world and the overall digital revolution. Digital economic development is one of the key factors motivating big giants to invest aggressively on digital innovation and shift their conventional business models to automated ones, so as to seize value-producing opportunities and keep ahead of their competitors, as well as to boost the continuity and reliability of their services. Ranging from artificial intelligence (AI), augmented reality (AR) and virtual reality (VR) to the internet of things (IoT), the growing number of internet-connected devices around the world on account of the growing technologies is anticipated to contribute to the growth of the global Artificial Intelligence (AI) in Construction market.

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Based on the increasing number of internet users and data transmission devices as well as networks, along with the innovations in the ICT industry are expected to generate substantial opportunities in the global Artificial Intelligence (AI) in Construction market over the forecast period, i.e., 2021-2028. As per the statistics provided by International Telecommunication Union (ITU), individuals using the internet per 100 inhabitants for developed region increased around 3 times to 86.6 numbers for the time period of 2001- 2019.

Some of the prominent factors that are expected to fuel the demand for Artificial Intelligence (AI) in Construction in the coming years are the growing number of internet users and the overall rise in research and development activities in the field of information and communication technology.

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However, with technologies continuously changing, firms need to keep up with these innovations to maintain a strategic advantage over their competitors in the industry. In order to achieve this, it is vital for them to train their practitioners on a timely basis. Not only will it encourage marketers to remain ahead of their business, but it will also help them discover new applications from it.

To provide better understanding of internal and external marketing factors, the multi-dimensional analytical tools such as SWOT and PESTEL analysis have been implemented in the global Artificial Intelligence (AI) in Construction market report. In addition, the research covers market segmentation, CAGR (Compound Annual Growth Rate), BPS analysis, Y-o-Y growth (%), Porter’s five-force model, absolute $ opportunity, and the market’s anticipated cost structure.


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