Emerging Technologies Impacting Digital Transformation in the Construction Industry
Building the Future of Construction IT
Digital transformation in construction is in full swing and shows no signs of slowing. As the entire sector continues on its path towards digitalization, Olive’s top construction technology trends point towards an exciting future for construction companies and all those involved. Here are our the ConTech trends to look out for this year.
1. BIM technology and CAD
Building information modeling (BIM) is an intelligent software modeling process that architects, engineers, and contractors can use to collaborate on a building’s design, construction, and operation. Building information modeling enables real-time collaboration in construction projects, leading to huge cost, safety, and efficiency improvements. As a result, BIM is one of the most influential construction trends today and will grow exponentially this year.
Another contech trend predicted to grow further is CAD (computer-aided design), allowing professionals to create models of building components or entire structures. CAD is predicted to grow by 209.62 million from 2021 to 2025.
2. Tools and methods to achieve lean construction
Lean construction has been gaining attention in recent years. The concept is simple: maximize client value while minimizing waste. The goal is to achieve a continuous workflow that is reliable and predictable. Each stage of production is done sequentially. All parties have to communicate and work together to achieve flow.
3. Construction Robots and Drones
A labor shortage in the construction industry has signified the need for adaptation. Construction robots are automated machines that assist in construction. Despite fears of robots taking over jobs, machines are upgrading jobs and making the job site safer while addressing labor shortages.
4. HR tech
Construction companies are struggling to find enough qualified workers and keep them employed. The Sage AGC report found that 54% of construction firms have difficulty finding qualified workers to hire. Ben Eubanks, the CRO for Lighthouse Research and Advisory, says firms are seeing increased demand for technology. Eubanks added that construction firms are looking to find HR technology that can help them hire workers faster and onboard them more efficiently.
5. Mobile apps for worksite access
Mobile applications in the construction industry allow worksite access like never before, including real-time inspections, on-site accountability, and accurate measurements taken from a mobile camera. Due to the pandemic, worksite mobile apps have continued to grow in popularity as physical collaboration between teammates proved difficult. Companies such as AECOM developed technology that creates virtual meetings for public projects, and other apps such as AirMeasure and Infotycoon also continue to grow in popularity.
6. Construction management software
Construction management software is important to remain competitive, build a valuable business, and achieve operational efficiency. Leading construction management software encompasses end-to-end needs from RFIs to compiling data, sharing files with mobile teams, budgeting, document storage, payroll and HR, and inventory monitoring.
7. Smart Cities
Some of the biggest tech companies in the world are investing heavily in smart, sustainable cities. The global smart city market will grow 20.5%, reaching $2.5 trillion by 2025. Some of the most notable projects in the works include Masdar City in the United Arab Emirates, Songdo International Business District in South Korea, Hudson Yards in New York City, and India’s Delhi-Mumbai Industrial Corridor.
Innovation for Construction IT
Digital transformation will be heavily impacting the construction industry in the future. Whether construction companies like it or not, we'll be seeing plenty of technological advances over the next few years. After all, it is what our economy needs. The question is no longer if construction companies should invest in these technologies; rather, it has evolved into how best to invest. Companies that want to stay competitive and relevant need to start navigating their way through these waters sooner rather than later.
True digital transformation requires finding the right contech for your organization's needs in collaboration with key stakeholders.