The global market for AI in construction is experiencing rapid growth driven by the integration of advanced artificial intelligence technologies across several sectors, according to a new report
Ameco Research forecasts that the value of the worldwide market for AI in construction will grow from $2.6bn in 2023 to $25.1bn by 2032.
It is expected to record a compound annual growth rate of 29.2% from 2024 to 2032.
Key applications of AI in construction include machine learning algorithms for predictive analytics, computer vision for site monitoring and robotics for automating tasks.
Market drivers
Ameco identified several market drivers:
- Efficiency and productivity gains
AI technologies significantly streamline construction processes, resulting in increased efficiency and productivity. Machine learning algorithms enable predictive analytics, helping forecast project delays, budget overruns and equipment maintenance needs.
These insights allow construction managers to make informed decisions, optimize resource allocation and mitigate potential risks.
- Enhanced safety measures
Computer vision technology facilitates real-time site monitoring, ensuring compliance with safety regulations and identifying potential hazards.
This proactive approach minimizes workplace accidents and enhances overall site safety, fostering a safer work environment.
- Cost reduction through automation
Robotics in construction automates repetitive and labor-intensive tasks, such as bricklaying, welding and material transportation.
This not only reduces labor costs but also improves precision and quality, leading to cost savings and superior project outcomes.
- Demand for smart construction solutions
The rising demand for smart cities and sustainable construction practices drives the adoption of AI technologies.
AI-powered systems enable efficient energy management, waste reduction, and resource optimization, aligning with the goals of sustainable development.
Regional insights
- North America
North America holds a significant share of the AI in construction market, driven by technological advancements, robust infrastructure development and substantial investments in AI research.
The presence of key market players and early adoption of AI technologies contribute to the region’s market dominance.
- Europe
Europe is witnessing rapid growth in the AI in construction market, propelled by stringent safety regulations, increasing focus on sustainable construction and government initiatives promoting AI adoption.
Countries like Germany, the UK, and France are at the forefront of this transformation.
- Asia Pacific
The Asia Pacific region is expected to exhibit the highest CAGR during the forecast period.
Factors such as rapid urbanization, large-scale infrastructure projects and a burgeoning construction industry fuel the demand for AI technologies. China and India are the key growth drivers in this region.
- Latin America and Middle East & Africa
The AI in construction market in Latin America and the Middle East & Africa (MEA) is gradually gaining traction.
Increasing investments in infrastructure development and growing awareness of AI benefits are the primary factors contributing to market growth in these regions.
