Artificial intelligence (AI) in Construction market share research by applications and regions for 2018-2024 - PowerPoint PPT Presentation

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Artificial intelligence (AI) in Construction market share research by applications and regions for 2018-2024

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The prominent vendors in the AI in Construction Market are Oracle, Microsoft, IBM, eSUB, Alice Technologies, SAP, Autodesk, Aurora Computer Services, Smartvid.io, and Building System Planning. – PowerPoint PPT presentation

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Title: Artificial intelligence (AI) in Construction market share research by applications and regions for 2018-2024


1
Artificial intelligence (AI) in Construction
market share research by applications and regions
for 2018-2024 Global Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
2
Overview of Artificial intelligence (AI) in
Construction Market
  • The North American AI in Construction Market will
    have the largest market share due to high
    investments by construction companies. The
    shortage of skilled workforce has driven the
    major construction companies to invest in
    robotics-based solutions. The construction
    companies are developing solutions that can
    detect risks and perform repetitive
    labor-intensive tasks that can enable
    inexperienced operators to fulfill complex tasks.
  • AI in Construction Market size is driven by the
    rising safety and efficiency concerns. The
    construction companies are using the AI
    technology to extract precise information and
    insights to enhance the safety and productivity.
    It leverages on the image recognition algorithms
    to identify search criteria, such as safety vests
    and hard hats, to identify construction workers,
    who are not wearing proper safety equipment.

3
Continue
  • The increasing digital data is also propelling
    the market growth. Over the past five years, a
    rapid surge in the growth of the digital data has
    been witnessed due to the growing adoption of
    Building Information Systems (BIM), security
    sensors, drones, and machine telematics. This is
    encouraging construction companies to adopt
    advanced analytics solutions to take the full
    advantage of the huge amount of digital data and
    extract actionable insights.
  • The adoption of the drones, robots, and
    autonomous vehicles in the construction sector is
    also backing the growth of the market. The
    companies are adopting these technologies for
    mapping, aerial imaging, surveying construction
    sites, and to automate the construction
    operations. This is developing myriad
    opportunities for the growth of the AI technology
    in the construction sector. However, the
    unstructured construction environment and lack of
    skilled workforce are the major factors that are
    hindering the market growth.

4

Browse Full Research Report On Artificial
intelligence (AI) in Construction Market
_at_ https//bit.ly/2tY9jWl Request for an
in-depth table of contents for this report _at_
https//bit.ly/2Kq77Sr //www.gminsights.com/re
quest-toc/upcoming/1797
5
Continue
  • The construction companies are utilizing the
    capabilities of the AI for designing, estimation,
    safety, management, and quality measurement. The
    design applications create complex designs
    efficiently and feed various design goals
    criteria. The design applications employ machine
    learning algorithms to provide designers with
    anticipatory design models based on customers
    preferences and the past user history. The
    estimation applications are used for developing
    projections associated with cost, labor, and raw
    materials. The AI applications combine generative
    design models with costs associated with similar
    projects to provide preliminary schedule and cost
    estimates.
  • The Middle-Eastern AI-based construction industry
    will exhibit an increased growth due to the
    increased government spending on infrastructure,
    commercial, residential, and energy projects.
    This increased government spending on
    infrastructure is attributed to the growing
    tourism industry across the region. The Asia
    Pacific market will grow significantly due to the
    widespread adoption of AI-based platforms by
    construction companies in developing economies
    including China, Japan, and Singapore. The high
    capital investment is one of the major challenges
    that restrains the market.

6
Continue
  • The prominent vendors in the market are Oracle,
    Microsoft, IBM, eSUB, Alice Technologies, SAP,
    Autodesk, Aurora Computer Services, Smartvid.io,
    and Building System Planning. For instance, Volvo
    Construction Equipment launched Compact Assist,
    tool that is used to identify and decipher
    objects using various computer vision
    methodologies. The prominent companies operating
    in the market are focusing on partnerships,
    fundraising, and new product development to
    increase the customer base and gain an edge over
    customers.
  • Similarly, Doxel, a tech startup has developed a
    system to streamline construction processes based
    on artificial intelligence, robotics, and LIDAR
    laser scanning technologies. eSUB, a renowned
    cloud-based labor productivity and project
    management solution provider raised a fund of USD
    3 million from Autodesk to accelerate product
    development for higher integration with BIM 360
    construction platform. Komatsu, a Japanese
    construction company has partnered with NVIDIA to
    use NVIDIA GPUs to visualize and analyze the
    entire construction sites.

7
Methodology
  • Market
    research reports Key analytical components

8
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