Artificial Intelligence in Construction Market Size, Share, Growth Analysis, By Offering(Solution, Service), By Application(Asset Management, Project Management, Risk Management, Schedule Management), By Region - Industry Forecast 2024-2031

In 2022, the North American AI in the construction market held a significant share of over 38%. This prominence can be attributed to the region's robust industrial automation sector. North America stands out for its substantial population with increased purchasing power, consistent investments in automation, and governmental emphasis on domestic AI-integrated construction equipment manufacturing. The region's marked investments in Industrial Internet of Things (IIoT) and industrial automation further contribute to the market's growth. Noteworthy tech giants have made substantial investments in this region, emerging as preferred choices for companies seeking AI-driven applications. A case in point is Microsoft Azure, developed by U.S.-based tech giant Microsoft, which has been employed by construction firms like PCL Constructors Inc. and ThyssenKrupp AG to implement AI-enabled building solutions.

Conversely, the Asia-Pacific (APAC) region is poised to exhibit the highest Compound Annual Growth Rate (CAGR) in the forthcoming period. Escalating investments in infrastructure for purposes such as risk management, project oversight, and supply chain optimization fuel the market's expansion in APAC. Emerging economies like India and China showcase a notable uptick in the adoption of pre-construction AI applications. Additionally, the impetus to develop smart cities in these nations propels companies to embrace AI solutions and services, further amplifying the region's growth trajectory.