Planning and Design Segment is Expected to Dominate the Global Artificial Intelligence (AI) in Construction Market
Adopting AI products and services in construction
are the factors propelling the market growth.
According to TechSci
Research report, “Global Artificial Intelligence (AI) in Construction Market
- Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Artificial Intelligence
(AI) in Construction is anticipated to project robust growth in the forecast
period with a CAGR of 22.95% through 2028. Artificial intelligence in the
construction industry is experiencing a digital transformation. Focusing on technologies
like artificial intelligence and machine learning at every stage of engineering
and construction, from design, preconstruction, construction, and operations to
asset management, is developing the construction industry's potential to new
levels. As a technological shift emerges in the construction industry, it is
becoming beneficial for the companies that upgrade the technology. Thus,
adopting AI products and services in construction is expected to contribute
considerably to market growth in the coming years.
Based on Application, Planning
and Design Segment will dominate the market, The application of AI in the
planning and design segment of the construction industry offers several
benefits, ranging from enhanced efficiency and accuracy to improved
decision-making. Planning and design are crucial phases of construction. Any
flaws or errors committed at this stage of development may incur a severe loss
to the contractors in the later stages of the project. Such scenarios lead to
many budget constraints and delays in project completion. The adoption of Building
Information Modeling in the construction industry has emerged as a new way to
create the 3D models that construction professionals rely on to design, build,
and repair accurately over the past few years. BIM platform programmers are
improving the capabilities of BIM with smart, AI-driven features. In September
2022, construction technology startup Toric, a data platform used by
construction, engineering, and similar sectors that enabled anyone to
integrate, transform, model, and visualize data without writing code, raised
USD 22 million in funding. As part of the investment, Toric will offer new
integrations for Autodesk Construction Cloud and Autodesk’s BIM design tools,
such as Revit, Navisworks, and Civil 3D.
Browse over xx market data
Figures spread through 188 Pages and an in-depth TOC on " Global
Artificial Intelligence (AI) in Construction Market.”
BIM applies various tools
and technologies, including machine learning, to help teams avoid a common,
costly issue: duplicated work. Sub-teams working on shared projects often spend
time creating models that other sub-teams have already made. With BIM, users
"teach" machines to use algorithms to generate designs with multiple
variations. As the AI builds models, it learns from each iteration until it
comes up with the ideal model. Based on Region, North
America will dominate the market. The North America market for artificial
intelligence (AI) in construction has been experiencing significant growth in
recent years. The region has been at the forefront of technological
advancements and digital transformation in the construction industry. The North
American market for AI in construction is one of the largest and
fastest-growing globally. The market is driven by increasing construction
activities, demand for advanced technologies, and a focus on improving
productivity and efficiency. The market encompasses various AI applications
across different stages of the construction lifecycle, including planning,
design, construction, and operations.
North America, particularly
the United States, has been a hub for technological innovation in the
construction industry. Many regional companies have been at the forefront of
developing and implementing AI technologies for construction applications. The market
has witnessed the adoption of AI-driven solutions such as predictive analytics,
computer vision, robotics, and machine learning across construction processes.
North America has a robust
infrastructure development sector, including residential, commercial, and
public infrastructure projects. The region experiences urbanization and
population growth, driving the demand for new construction projects. AI
technologies are increasingly integrated into construction processes to
optimize project planning, design efficiency, and operational management. As
the North American construction industry embraces digital transformation, AI
technologies are expected to improve productivity, safety, and project
outcomes. The market is characterized by a growing ecosystem of AI technology
providers, construction firms, and research institutions working together to
drive innovation and advance the adoption of AI in construction practices.
Key market players in the Global
Artificial Intelligence (AI) in Construction Market are following: -
- Autodesk Inc.
- Building System Planning
Inc.
- Smartvid.io Inc.
- Doxel Inc.
- Bentley Systems Inc.
- PTC Inc.
- IBM Corporation
- NVIDIA Corporation
- Oracle Corporation
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“The global Artificial
Intelligence (AI) in construction market is driven by several key factors. AI
technology enhances efficiency and productivity, reducing project delays and
costs. It also improves safety by monitoring construction sites and identifying
hazards. Cost reduction through resource optimization and predictive
maintenance is another driver. Data-driven decision-making, automation, and
robotics contribute to better project outcomes. Environmental sustainability
and the need for remote monitoring, which the COVID-19 pandemic underscored,
are additional drivers. With increasing urbanization and infrastructure
development, AI is poised to transform the construction industry, offering a
competitive advantage and aligning with sustainability goals.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global management
consulting firm.
Artificial Intelligence (AI) in Construction Market
–
Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Application
(planning and design, safety, autonomous equipment, monitoring, and
maintenance), By Region, By Competition 2018-2028 has evaluated the future
growth potential of Global Artificial Intelligence (AI) in Construction Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Artificial
Intelligence (AI) in Construction Market.
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