It is well reported that there is a need for federal and state investment in transportation, public buildings, water systems, and other vital infrastructure. Not only does it ensure secure and safe systems, but it is also essential to creating good jobs and economic recovery.
Two big movements are emerging for building owners. The first is that owners are beginning to leverage technology to help streamline many of the outdated processes that currently exist today, ultimately helping to centralize decisionmaking for the business.
Everything from tools to equipment is starting to become more connected with the advent of technologies such as the IoT (Internet of Things), AI (artificial intelligence), machine learning, and more.
Despite the split U.S. Congress, infrastructure historically is one of those issues that gets bi-partisan support. With that in mind, our elected officials are going to have to find ways to work together to accomplish key goals that benefit the American people and that just might mean getting buy-in from both sides of the political aisle—Democrats and Republicans—because an investment in the nation’s infrastructure often equates to an investment in its future economic success. President Trump has made some big promises, but the Federal Government’s next move in infrastructure investment remains to be seen.
M&A (merger and acquisition) activity continues to happen at a fast rate in the construction industry, with many providers proposing integration and transformation for the space.
Homeowner preferences are changing. Buyers want homes that are high-tech, energy-efficient, and relatively affordable, but will they soon also want homes that are able to be easily modified in the future?
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.