In a recent study, researchers predict that the artificial intelligence market in the construction industry could experience an impressive growth rate, with the industry projected to be worth a staggering $13.5 billion by the year 2030. This forecast suggests an annual growth rate of 36% between 2022 and 2030. The research, conducted by the Indian market research firm Adroit Market Research, also highlights the transformative potential of artificial intelligence (AI) in the field of construction.
Last year, the AI market in construction was valued at $1.3 billion, and the anticipated growth over the next decade showcases the increasing significance of AI in this sector. The adoption of AI technologies is expected to revolutionize the construction industry by improving various aspects of the construction process.
Artificial intelligence in construction entails the application of AI tools and algorithms to enhance various functions associated with building projects.
AI facilitates job automation, data analysis on massive datasets, and the development of predictive models to enhance productivity, efficiency, and safety.
One of the primary benefits of AI in construction is its ability to enhance the quality of project planning and design. Through the analysis of data from previous projects, construction standards, and project principles, AI can contribute to more refined and efficient project designs. This, in turn, enables a more accurate assessment of the sustainability of construction projects, potential risks, and alternative solutions.
The integration of artificial intelligence in the construction industry has the potential to reshape the way projects are conceived, planned, and executed. As AI continues to evolve, we can expect a brighter, more innovative future for the construction sector, where efficiency, safety, and sustainability take center stage. The estimated growth in the AI market for construction provides a promising outlook for the industry, promising a brighter, more efficient, and more sustainable future.
Author: Petra Marušić
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