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New to the market in 2015, LotVue is a family of application that enables the construction industry to collaborate and engage.
The Bureau of Labor Statistics shows that the construction workforce grew by 1.66% between January 2017 and October 2017. Comparatively, the industry grew by 2.1% in 2016. Nationally, according to the BLS, that’s equivalent to 113,000 new jobs in 2017 compared to 144,000 in 2016.
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Business may be booming in construction, but the level of performance for construction companies is certainly in need of a boost to keep up the pace.
As investments rise for new technology on the jobsite, investment in the resources that are needed to manage them must also rise. The SIM (Society for Information Management), www.simnet.org, is reporting IT budgets have increased by 23%, raising total investments to $107 million in 2017.
Integration enables construction companies to improve business processes by linking model data to other business process in the office and at the jobsite—and now new investments could further this trend in the future.
Partnerships in construction have proven to be beneficial to the industry. An example of this is the now ongoing collaborations between FC-CS (FC Construction Services) and Vaughn Construction.
Drone use on the jobsite enters a new dimension as AR (augmented reality) is poised to change how data is captured at the construction jobsite in the future.