New York, July 23, 2019 (GLOBE NEWSWIRE) -- Efficiency in construction designing, planning, and other processes is propelling the growth of the market.
The global Artificial Intelligence (AI) in the Construction market is forecast to reach USD 4.51 Billion by 2026, according to a new report by Reports and Data. The easy risk mitigation of quality, and safety, coupled with the time and cost consumption requirements of the construction industry, will drive the growth of the market.
Artificial intelligence can help reduce construction costs in many ways. For example, the use of virtual reality goggles and mini-robots into buildings under construction to track the work as it progresses. AI is also being used today to design the routing of electrical and plumbing systems in modern buildings. Artificial intelligence is also beneficial for the development of safety systems at work sites, which reduces the risks of hazards and accidents. The technology is being used by many firms to pursue the real-time interactions of machinery, workers, and objects on the site and alert the supervisors of potential safety issues, productivity issues, and construction errors. Artificial intelligence is also expected to reduce the human workforce, reduce expensive errors, reduce worksite injuries, and make building operations more productive.
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Further key findings from the report suggest
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Artificial Intelligence (AI) in Construction market on the basis of technology, component, organization size, deployment type, phase, applications, end use, and region:
Technology Outlook (Revenue, USD Million; 2016-2026)
Component Outlook (Revenue, USD Million; 2016-2026)
Organization Size Outlook (Revenue, USD Million; 2016-2026)
Deployment Type Outlook (Revenue, USD Million; 2016-2026)
Phase Outlook (Revenue, USD Million; 2016-2026)
Applications Outlook (Revenue, USD Million; 2016-2026)
End-use Outlook (Revenue, USD Million; 2016-2026)
Regional Outlook (Revenue, USD Million; 2016-2026)
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