Artificial Intelligence in Construction Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Artificial Intelligence in Construction market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Artificial Intelligence in Construction Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Artificial Intelligence in Construction Market forecast.
The Artificial Intelligence in Construction Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The artificial intelligence (AI) in construction market is estimated to attain USD 3.3 billion, by the end of 2025, and is anticipated to grow at the CAGR of 34.0% over the forecast period, 2019 to 2025, according to a new report by Million Insights. Growing need for efficient deployment and risk management solutions is boosting demand for AI-enabled solutions. In addition, AI solutions are useful in predictive maintenance analytics. AI solution helps to track and review multiple images and help in providing insights to mitigate risk factors. Moreover, these solutions can estimate results or outputs based on predictive analysis.
Artificial intelligence technology also helps to manage cost overruns depending on project size, competencies of project managers, and other contract types. AI-enabled systems provide real-time feedback that helps to reduce overall production costs. AI-enabled cameras are used to track resources and activities in manufacturing units. Thus, increasing adoption of AI-based predictive maintenance, cost overruns, and post-construction solution is projected to surge the market growth.
Asia Pacific is anticipated to grow at a significant rate of CAGR during the forecasted period. This growth is contributed to increasing demand for AI-based services across countries such as China and India. Mitigation of risk factors at job sites is expected to positively impact on market growth. Industries are looking after artificial intelligence solutions to enhance their productivity with all safety measures.
Some of the companies for Artificial Intelligence in Construction market are:
IBM Corporation; SAP SE; Microsoft Corporation; ALICE Technologies Inc.; Oracle Corporation; eSUB Inc.; Smartvid.io, Inc.; and Autodesk Inc; Darktrace; and Aurora Construction and Security.
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