The construction industry, one of the world’s oldest and largest sectors, is set for a transformative leap with the integration of emerging technologies like Artificial Intelligence (AI), 3D Printing, and Robotics. These advancements are expected to address critical challenges and drive efficiency, according to a White Paper titled ‘Artificial Intelligence: The Future of Smart Construction’ unveiled at the World of Concrete India 2023 exhibition in Mumbai.
Currently contributing 13% to the global GDP, the construction industry is projected to experience substantial growth, with its market size expected to surge from $8.2 trillion in 2023 to $17 trillion by 2029, at an impressive CAGR of 11%. However, challenges such as labor shortages, high material costs, and the need for sustainable practices remain significant hurdles.
AI is anticipated to optimize project planning, streamline processes, and enhance safety measures. Meanwhile, 3D Printing could revolutionize on-site construction by reducing material waste and time. Robotics is likely to automate repetitive tasks, increasing productivity and precision.
These innovations hold the potential to modernize the construction sector, making it smarter, more efficient, and better equipped to handle future demands.
