Press release
Artificial intelligence in Construction Market Trends Report by Key Players: Volvo Construction Equipment, Oracle, Microsoft, IBM, eSUB Construction Software, SAP, Autodesk, Smartvid.io, Building System Planning, Inc.
Global Market Insights, Inc.
The Middle-Eastern AI-based construction industry will exhibit an increased growth due to the increased government spending on infrastructure, commercial, residential, and energy projects. This increased government spending on infrastructure is attributed to the growing tourism industry across the region.
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The Asia Pacific artificial intelligence in construction market will grow significantly due to the widespread adoption of AI-based platforms by construction companies in developing economies including China, Japan, and Singapore. The high capital investment is one of the major challenges that restrains the market.
Artificial intelligence in construction Market is driven by the rising safety and efficiency concerns. The construction companies are using the AI technology to extract precise information and insights to enhance the safety and productivity. It leverages on the image recognition algorithms to identify search criteria, such as safety vests and hard hats, to identify construction workers, who are not wearing proper safety equipment.
The increasing digital data is also propelling artificial intelligence in construction market growth. Over the past five years, a rapid surge in the growth of the digital data has been witnessed due to the growing adoption of Building Information Systems (BIM), security sensors, drones, and machine telematics. This is encouraging construction companies to adopt advanced analytics solutions to take the full advantage of the huge amount of digital data and extract actionable insights.
Top key Players:
1. Volvo Construction Equipment
2. Oracle
3. Microsoft
4. IBM
5. eSUB Construction Software
6. SAP
7. Autodesk
8. Smartvid.io
9. Building System Planning, Inc.
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The adoption of the drones, robots, and autonomous vehicles in the construction sector is also backing the growth of the artificial intelligence in construction market. The companies are adopting these technologies for mapping, aerial imaging, surveying construction sites, and to automate the construction operations. This is developing myriad opportunities for the growth of the AI technology in the construction sector. However, the unstructured construction environment and lack of skilled workforce are the major factors that are hindering the market growth.
The construction companies are utilizing the capabilities of the AI for designing, estimation, safety, management, and quality measurement. The design applications create complex designs efficiently and feed various design goals & criteria. The design applications employ machine learning algorithms to provide designers with anticipatory design models based on customers preferences and the past user history. The estimation applications are used for developing projections associated with cost, labor, and raw materials. The AI applications combine generative design models with costs associated with similar projects to provide preliminary schedule and cost estimates.
The prominent vendors in artificial intelligence in construction market are Oracle, Microsoft, IBM, eSUB, Alice Technologies, SAP, Autodesk, Aurora Computer Services, Smartvid.io, and Building System Planning.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
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