Skip to main content
Global InsightsOpinion & PerspectiveHeights

Market Report: Artificial Intelligence's Meteoric Rise in Construction

By October 13, 2023No Comments
Green Buildings in Malaysia: Increasing Demands for Sustainable Practices 06

The Global Artificial Intelligence in Construction market is on the brink of significant expansion from 2023 to 2030. With major players adopting AI strategies and embracing its potential, the market is poised for substantial growth in the near future. The market for Artificial Intelligence in Construction, valued at US$519.63 million in 2021, is projected to surge to US$3554.22 million by 2027, exhibiting a remarkable CAGR of 37.78%.

AI is reshaping the construction landscape, empowering builders to construct smarter, more budget-friendly structures.

Through supervised learning systems, contractors can swiftly analyse diverse data, spanning environmental factors, building specifications, and material availability. This empowers them to swiftly identify the most efficient and effective construction methods, facilitating prompt, informed decisions and resource savings.

The comprehensive market report by 360 Research report offers a holistic exploration of AI in the construction industry, encompassing both quantitative and qualitative research. It unveils market dimensions, industry dynamics, and segmented markets by type, application, and region. The report also delves into the competitive panorama, profiling industry leaders and providing insights into their market share and competitive edge.

The impetus behind AI in the construction market’s growth is the escalating demand for global residential, institutional, commercial, and heavy construction ventures. These applications are driving the market’s expansion. Machine Learning, Deep Learning, and Natural Language Processing (NLP) stand out as the leading AI in Construction categories, each contributing significantly to market penetration.

Geographically, North America, Europe, Asia-Pacific, South America, and the Middle East and Africa lead in the Artificial Intelligence in Construction Market. These regions present distinctive growth prospects, shaped by various construction projects and advancements in AI technology.

In conclusion, the Artificial Intelligence in Construction market is on a trajectory of remarkable growth. The infusion of AI in the construction sphere ushers in ingenuity and efficiency. This report equips industry players, investors, researchers, and consultants with indispensable insights to navigate the market and seize opportunities, fostering informed decisions and capitalising on emerging prospects.

mceia 1

This will close in 20 seconds