Artificial Intelligence (AI) in Construction Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

Artificial Intelligence (AI) in construction market is anticipated to grow at a CAGR of 38.7% during the forecast period (2023-2030). The factors such as the demand for efficient planning and other processes in construction advanced technology such as artificial intelligence is driving the growth of AI in the construction market. In addition, the rising need for construction safety has shown a positive impact on the growth of the market. The adoption of drones, robots, and autonomous vehicles in the construction industry is driving the growth of AI in construction market. Companies are adopting technologies for mapping, surveying construction sites, aerial imaging, and automating construction operations. This is developing immense opportunities shortly for the growth of AI in the construction industry.

Artificial intelligence aids the owners and contractors by providing a supervised learning system from collected environmental data, building data, and material data to identify the most productive way to create a building. Construction businesses are using an artificial intelligence system that recommends to a builder the materials to be used and costs needed to create the home based on available data in a few seconds. However, factors such as an unstructured construction environment and an unskilled workforce are hampering the growth of AI in the construction market. 

Construction companies are using the capabilities of AI for designing, quality measurement, safety, and management. The design applications create a machine learning algorithm to offer designers anticipatory design models that are based on the preference of customers. The AI application joint generative design models with projects to offer a preliminary schedule and estimated cost. AI can do tasks similar to those performed by human intelligence such as recognition, decision-making, and planning. 

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AI in Construction Market Segmentation

By End-User

Residential
Public Infrastructure
Heavy Construction
Others

By Application

Planning & Design
Safety and Efficiency
Equipment
Monitoring & Maintenance

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Regional Analysis                                                                                                                                                                            

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles

ALICE Technologies, Inc.
Applied Project Experience Pty. Ltd. (Damstra Technology)
Assignar, Pty. Ltd.
Autodesk Inc.
Built Robotics, Inc.
Deepomatic
Doxel, Inc.
eSUB, Inc.
IBM Corp.
AI, Inc.
INTSITE, Ltd.
Jaroop
ai
Microsoft, Inc.
Oracle, Inc.
Predii, Inc.
Renoworks Software, Inc. 
SAP SE
Io, Inc.
Volvo AB

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