The Impact of Artificial Intelligence (AI) in Construction Industry – PR News Blog

Artificial Intelligence (AI) is the technology that allows machines to make intelligent decisions while applying the required skills. Global Artificial Intelligence (AI) in Construction Market was valued at US$ 449.7 million in the year 2018 and is expected to reach US$ 2,107.8 million by the year 2023, growing at a CAGR of 36.2%. The rising need for safety and security in the construction sector, coupled with an increasing demand for reducing the overall cost, is expected to drive the market. However, the complexity of the algorithms which has led to slower adoption of AI in the construction sector, is expected to hinder the growth of the market. The report overview includes studying the market scope, leading players like IBM (US), Alice Technologies (US), Aurora Computer Services (UK), Autodesk (US), Building System Planning (US), eSUB (US), etc., market segments and sub-segments, market analysis by type, application, geography.