Artificial Intelligence (AI) in the Construction Market is projected to grow up to USD 2140 million by 2027 growing at a CAGR of 38% during the forecasting period 2021-2027.

Artificial intelligence is the idea of machines being able to execute activities that are similar to complex human intellect abilities such as recognition, planning, and decision-making. Artificial intelligence (AI) technologies, which have already made an impact in other industries, are starting to show up in the construction business. With increased safety standards, artificial intelligence has evolved to assist in predicting problems at building sites before they occur. As a result, building firms have turned to artificial intelligence for solutions such as predictive maintenance and risk management. In addition, AI is widely used in the construction industry to develop industrial internet of things (IIoT)-based applications for construction sites. Project managers benefit from IIoT's efficient outputs and lower labour costs, which increases demand for artificial intelligence in the business. To implement Industry 4.0 and support full automation at their job sites, construction organisations are focusing their investments in IIoT application development.
Artificial intelligence not only improves efficacy and production in various construction processes, but it also cuts down on the time it takes to finish any given activity. Furthermore, by using AI into construction processes, businesses can save a significant amount of money. During the projected period, these factors are expected to propel the market forward. During the projection period, the market's expansion is expected to be hampered by a scarcity of trained and informed personnel. During the forecast period, persistent technical breakthroughs in AI and IOTs are expected to generate significant potential for market growth.
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The Artificial Intelligence (AI) in Construction Market report has been categorized as below
By Technology
Machine learning and deep learning
Natural Language Processing (NLP)
By Stage
Pre-construction
Construction stage
Post-construction
By Component
Solutions
Design and planning
Revenue estimation
Virtual assistant
Demand forecasting
Predictive maintenance
Others
Services
Integration and deployment
Training and consulting
Support and maintenance
By Application
Project management
Field management
Risk management
Schedule management
Supply chain management
Others
By Deployment Type
Cloud
On-premises
By Industry Type
Small and Medium-sized Enterprises (SMEs)
Large enterprises
By Organization Size
Residential
Institutional commercials
Heavy construction
Others
By Region
North America
Europe
Asia Pacific
Rest of World
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