AI In Construction: Developing Era in Construction Market Through Artificial Intelligence

  • Published Date : Nov 2021

Artificial intelligence plays a dominant role in construction segment, through bringing economies of scale and constructing of building quickly. The use of intelligent sensors will able to provide the data immediately for use of task like safety records and ordering materials. Drones also have enormous role in checking the site of construction & assisting managers to monitor activities. The use of mini robot makes the work more productive. Artificial Intelligence will also reduce the construction cost like human workforce, expensive errors and worksite injuries.

Building information modeling (BIM) is a intelligent 3D model based process that gives idea of architecture, Engineers and construction professionals to plan and design there infrastructure more efficiently. BIM will help in changing the way we work and also exploring the new things which are not covered in the construction sector. However, with the use of 3D printing technology the entire construction of building can be finalized. BIM can decrease the number of mistakes that take place in the traditional documentation of the design. Building information model can make the construction industry lift the quality of work at next level.

The global AI construction market was valued at approximately USD 466.9 million in 2018, and is forecasted to reach USD 2312.8 million by 2026 and growing at a CAGR of 33.87% from 2018 to 2026.

AI In Construction Market Prominent Players:

  • IBM
  • Microsoft
  • Oracle
  • SAP
  • Alice Technologies 
  • eSUB 
  • Smartvid.io
  • Aurora Computer Services  Autodesk

IBM Research is using artificial intelligence and machine learning technologies from many years. IBM assists the Construction process in minimizing the project cost and upgrading the resources. Data from IOT sensors can be captivate into BIM to model temperature, energy usage and movement of people to smoothen operations and improve future building projects. IBM construction companies can make better project delivery and payment process and shares the right documents with the right person.

AI In Construction Market Dynamics:

Rising factors:

  • BIM  Assists in better collaboration and communication
  • Pre- construction visualization
  • Reduce construction cost

Building information modeling (BIM) used to share information of the project planning in the construction site, and takes decision according to it. The BIM 360 tools can analyze model blueprints on their mobile devices and get updated with their upcoming tasks of the construction project at any time. This will lead to reduce the project cost and mitigate the Risk.     

Threats:

  • Lack of skilled professionals and the increasing cases of privacy invasion, are some of the factors responsible for limiting the market growth.

Opportunities:

  • Better design of the building through robotic technology
  • Machine learning can improve the working conditions of the employees on construction site

North America to dominate the market during the forecast period

North America is expected has a growing market share in AI construction market. The North America region mark by the large number of people having improved purchasing power, continuous investment in automation, and government‘s increasing focus on having house on AI in construction equipment production. Additionally, Asia Pacific is also expected to register a considerable growth rate in the market. China, Japan, South Korea, and India are the leading countries in this region. The market growth is due to increase in demand by the economies to develop smart city projects which require better amenities that boost the real estate sector.

Conclusion

To conclude, the use of AI in construction sector will bring the remarkable changes along the construction value chain and disruptive potential in the highest areas. However, many companies are struggling to set up there concrete plan to make use of their potential. The use of AI will help in pre planned the project which will be the beneficial for the engineers and architecture. Trust between humans and AI can more easily lower the possibility of conflicts which will lead to improve the workflow. During the post construction phase, AI can used to monitor sites issues and accordingly it gives the solutions to prevent them from occurring.

However, in coming future it will mitigate the risk of losses and visualize the project in better way which leads to make construction project easier. The adaptation of new technologies like drones and robotics are increasing the opportunities in construction sectors which will bring the tremendous growth for the infrastructure.

AI In Construction Market segmentation:

Application type:

  • Project management
  • Field management
  • Risk management
  • Schedule management
  • Supply chain management
  • Others

Product type:

  • Drones
  • Robots
  • Machines
  • Autonomous vehicles
  • Architectural video software

End Users type:

  • Residential
  • Institutional commercials
  • Heavy construction
  • Others (light industrial construction and specialized industrial construction)

 

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