With a rise in urbanization and a skilled labor shortage in construction, equipment manufacturers are addressing industry challenges head on, with the development of new, advanced construction equipment.
The homebuilding, buying, and selling process is changing—all with the advent of new technologies for the construction industry.
Step aside BIM (building information modeling). Robotics might just be the next big technology advancement for residential homebuilders.
Drones represent a huge opportunity in the construction industry today—and in the future. Goldman Sachs, for instance, predicts a $100 billion market opportunity for drones by 2020. Naturally, consumer and military are big opportunities, but it actually predicts that the fastest growth will happen in businesses and civil governments, with an expectation that they will spend $13 billion on drones between now and 2020.
It is the question every building owner asks prior to investing in the IoT (Internet of Things): Does the benefit outweigh the cost of the technology implementation? More simply, will there be a quick and quantifiable ROI (return on investment)?
November is just around the corner, and with it comes an election. Across the country, voters are tasked with voting for or against a number of measures that could potentially repair failing infrastructure.
AI (artificial intelligence) is perhaps one of the biggest trends to watch in the months to come, with many analysts predicting growth and technology providers making big moves in this area. PwC even suggests that global GDP will be 14% higher in 2030 as a result of AI, which is the equivalent of an additional $15.7 trillion. One big area in construction that is set to change is scheduling, with a new acquisition that happened this week.
Smart buildings are here. With the IoT (Internet of Things) and big data growing at rates faster than ever before, buildings are also becoming connected. For construction companies, investing in technologies and equipment such as sensors and platforms can enable clients to engage with occupants in realtime. Such is the case with hospitals.
Today, the IoT (Internet of Things), fueled by AI (artificial intelligence) and machine learning are driving many industries—including construction. So much so that artificial intelligence-derived business value is forecast to reach $3.9 trillion in 2022, according to Gartner.