Jersey City, New Jersey, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Verified Market Research® recently published a report, “Artificial Intelligence (AI) In Construction Market” By Application (Field Management, Project Management), By Industry Type (Heavy Construction, Institutional commercial), and By Geography.
As per the deep research carried out by Verified Market Research®, the global Artificial Intelligence (AI) In Construction Market size was valued at USD 610.64 Million in 2021 and is projected to reach USD 5045.68 Million by 2030, growing at a CAGR of 35.70% from 2022 to 2030.
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Browse in-depth TOC on “Artificial Intelligence (AI) In Construction Market”
202 - Pages
126 – Tables
37 – Figures
Global Artificial Intelligence (AI) In Construction Market Overview
AI has many applications in several fields due to its vast valuable characteristics. Machine learning is a subtype of AI which allows computers and software to learn and evolve based on available data. This eliminates the need and hassle to manually develop a program or train the computers to perform any function. AI in construction assists in creating unique designs using computers. Many architects use 3D modeling for applications such as designing, developing, and constructing. AI in construction greatly minimizes the risk associated with construction and improves the quality and safety of construction while assisting in time management. Through AI, many construction functions can be automated to a greater degree. AI brings several beneficial areas such as machine learning, natural language processing, robotics, computer vision, optimization, and automated planning, to the construction industry.
The demand for AI in various industries is increasing rapidly. Similarly, in the construction industry, various factors such as large-scale project management, cost-efficient production, time management, and resource management are expected to increase the application of AI. Through AI, construction errors and construction-related injuries can be minimized significantly. AI can also greatly assist in budget management during the development of the product. It also enables the workers and employees to gather needed information and training to improve their skills. Growing concerns from governments regarding work safety have also contributed to the adoption of AI in construction. Because of all these factors, AI in the construction market is estimated to grow during the forecast period.
Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interest the client. The “Global Artificial Intelligence (AI) In Construction Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Key Players
The “Global Artificial Intelligence (AI) In Construction Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Building System Planning, Microsoft, IBM Corporation, Oracle, SAP, Alice Technologies, eSUB, Smartvid.io, Aurora Computer Services, Bentley Systems Inc., and Autodesk.
Based on the research, Verified Market Research® has segmented the global Artificial Intelligence (AI) In Construction Market into Industry Type, Application, and Geography.
- Artificial Intelligence (AI) In Construction Market, by Application
- Project Management
- Field Management
- Risk Management
- Schedule Management
- Artificial Intelligence (AI) In Construction Market, by Industry Type
- Heavy Construction
- Institutional Commercials
- Residential
- Others
- Artificial Intelligence (AI) In Construction Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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