Smart cities are on the rise across the globe, as a result of increasing urbanization and the need to provide citizens with new technology, while also improving quality of life, addressing aging infrastructure, and a renewed focus on environmental sustainability.
In the past five years, the amount of investment in construction-technology companies continues to rise, as investors look at this market as one that is ripe for innovation. In an industry that needs solutions to complete complex projects in a quicker timeline, technology could be the solution, and investors recognize this.
With construction projects becoming more complex and a continued lack of skilled workers, companies more often need to rely on software to help fill in the gaps. Technology can be key to help businesses become more efficient, and thus more profitable. In order to do this, contractors need choice.
Sometimes listening to an update call is more than a revenue report update on the recent acquisitions and technology advancements being announced by a company; it’s really about the vision of the leader at the helm.
Most of those working in technology in the construction industry recognize a big trend that has taken place in the past several years: the technology giants are getting bigger, mostly driven by M&A (merger and acquisition) activity.
The integration of the IoT (Internet of Things) on construction jobsites is helping construction companies save costs on lost and stolen equipment. Technology proves to be a solution to find expensive equipment that is not registered under a database.