Once the building is built, once the apartments are ready, once the owner is satisfied with the management team, then comes the hard part: property management in the digital age. Naturally, there is an app for that. According to Transparency Market Research analysts, the level of competition in the property-management software market continues to be intense. The key players in the market continue to move towards AI (artificial intelligence)-based techniques. Thanks to rising value generation of automated software-based property showcases, the property-management software market will witness a notable growth at a CAGR (compounded annual growth rate) of 7% from 2019 to 2029.
It seems every organization is making predictions for 2020. Even I have tossed in my own this year and recommended that the construction industry needs to Think Big.
With mortgage rates falling, making homebuying more affordable, homebuilders are increasingly struggling to meet growing market demand.
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.
Digital transformation is essential for the construction industry—but the disruption to business process can be challenging. In particular, ERP (enterprise-resource planning) software offers an integrated approach to business processes ranging from sales to accounting, CRM (customer-relationship management), and beyond.
For the past 50 years, large capital projects have relied on the science of what is known as CPM (critical path methodology) to plan and forecast project completion dates. There have been iterative improvements to CPM, such as accounting for risk in the form of generating risk-adjusted schedules, but the fundamental approach to CPM hasn’t materially changed.
Perhaps one of the most difficult questions to answer is this: What are the best software, hardware, tool, and equipment companies that serve the construction industry? Constructech has been answering this question since 2009 with its annual Constructech 50—and since that time only six stalwarts have remained on the list.
Here at Constructech, we have been watching the skilled labor shortage very closely, as the percentage of companies experiencing the shortage continues to rise and an influx of new programs develop.
My concerns about the skilled workforce are pragmatic as well as principled. And here’s why. In the construction industry, we have an incredible obligation to build a road from the classroom to the workplace so the necessary skillfulness is taught to the next generation.
Steve Jobs once said, “Design is not just what it looks like and feels like. Design is how it works.” This is a man who made his living delivering sleek, innovative products that changed the way both businesses and consumers work and play. He recognized that both form and function were equally essential to delivering something truly innovative.