Press Release

Visiongain Ltd.

Artificial Intelligence (AI) in Construction Market Report Up to 2031

October 20th, 2021 12:00 AM

Visiongain has published a new report on Artificial Intelligence (AI) in Construction Market Report to 2031: Forecasts by offering (Solution, Services), by stage (Pre-construction, Construction Stage, Post-construction), by deployment type (Cloud, On-premises), by technology (Machine Learning & Deep Learning, Natural Language Processing (NLP), Others), by application (Project Management, Asset Management, Supply Chain Management, Schedule Management, Risk Management, Others). PLUS, Profiles of Leading Artificial Intelligence in Construction Companies and Regional and Leading National Market Analysis. PLUS, COVID-19 Recovery Scenarios.

Artificial intelligence technology have enhanced construction industry to gather and share information in real time. This technology helps in identifying cost overruns based on based project size, contract type, and competence level of the project managers. Moreover, AI offers several advance features such as surveying, exploring structures & resources, automation of bricklaying & transportation, mapping, among others. Furthermore, factors such as increased demand for AI-based solutions & platforms, rise in need for data integration & visual analytics, and rapid growth in technology adoption in construction industry are propelling the market growth. Conversely, massive rise in adoption of Building Information Systems (BIM), machine telematics, drones, and other technologies in the construction industry are expected to provide lucrative opportunities to the market in the upcoming years.

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COVID-19 Impact on Global Artificial Intelligence in Construction Market

The unprecedented spread of COVID-19 pandemic has a significant impact on artificial intelligence in construction market. In order to maintain social distancing & curb the spread of coronavirus, several government & authorities across countries have imposed lockdown & shutdowns, which has resulted into huge loss of manpower & massive rise in unemployment ratio in the construction industry. As a result, due to this decline in manpower, companies are expected to implement technologies and execute robotic machines in the industry.

Market Drivers

Surge in demand for data integration & visual analytics

In order to analyse data, communicate the time frame & rollout process, design stages and accordingly to speed up the design process, the demand for data integration & visual analytics continue to rise in the market. Moreover, key players in the construction industry are adopting these technologies primarily to reduce waste & delay and ensure accurate cost estimates for the existing construction process.

Increased demand for AI-based solutions & platforms

The construction industry involves in huge planning, checking the architectural statics, designing variations, and other parameter before construction. Therefore, to make an efficient planning & effective construction of project, contractors & suppliers are largely adopting & implementing AI-based solutions & platforms, which as a result propels the market growth.

Market Opportunities

Adoption of security sensors, Building Information Systems (BIM), drones, and machine telematics, among others

Key players in the market are adopting these technologies for surveying construction sites, to automate the construction operations, mapping, and others. As a result, with this rapid adoption of advance technologies, the demand for AI in construction industry is expected to provide lucrative opportunities to the market in the upcoming years.

Untapped potential in emerging economies

Emerging economies such as Brazil, India, Mexico, Indonesia, China, South Africa, Egypt, Turkey, and Iran, among others are expected to create an immense opportunities to the companies providing AI-based solutions in the market. As these countries are growing at a tremendous speed and largely adopting technologies in the construction industry, which is therefore expected to maintain its dominance during the forecast period.

Get Detailed TOC @https://www.visiongain.com/report/ai-in-construction-market/#download_sampe_div

Competitive Landscape

Some of the companies profiled in the report include IBM, Alice Technologies, Aurora Computer Services, Autodesk, Building System Planning, eSUB, Microsoft, Oracle, SAP and Smartvid.io.

Recent Developments

In June 2020, the Fraunhofer Italia Innovation Engineering Center developed a mobile robotic platform called Husky A200, which can be used for autonomous logistic tasks on construction sites. In addition, this mobile robot aimed at advancing the cause of digitalization in construction & bridge the gap between robotics and the building industry.

In February 2019, Autodesk has launched the BIM 360 Project IQ, which helps in predicting & prioritising high-risk issues or project subcontractor risk in the construction industry. Moreover, this new development is targeted toward general contractors using Autodesk’s BIM 360 construction management software.

Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with this invaluable business intelligence

To access the data contained in this document please email contactus@visiongain.com

Information found nowhere else
With our newly report title, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain’s study is for everybody needing commercial analyses for the AI in Construction Market and leading companies. You will find data, trends and predictions.

Find more Visiongain research reports of Artificial Intelligence Sector click on the following links:

Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: catherine.walker@visiongain.com

About Visiongain

Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports mean that you can have a bespoke piece of market intelligence customized to your very own business needs.

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PR at Visiongain Inc.
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SOURCE Visiongain Limited.

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