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.
The residential construction market is seeing a resurgence of new projects, driven by the use of new, emerging technologies—both in the construction of the projects and in the homes themselves.
For any CIO or construction professional considering a new technology purchase, what factors are most critical when selecting a service or product? Trust is one of the most important in building a brand, according to a recent survey that reveals how well four cell service brands connect with their customer base.