According to the World Economic Forum, “the population of the world’s urban areas is increasing by 200,000 people per day, all of whom need affordable housing as well as social, transportation, and utility infrastructure.”
There is no doubt about it, labor shortage is probably today’s biggest challenge to the construction industry; and steel-based companies are not oblivious to what is taking place.
The complexity of connecting the jobsite has been a key reason why construction has historically been one of the least digitized industries.
The construction industry is considered by many to be one of the riskiest fields in business.
With mortgage rates falling, making homebuying more affordable, homebuilders are increasingly struggling to meet growing market demand.
One of the top issues confronting construction today—particularly on the residential homebuilding side—continues to be access to skilled labor. The concern has even surpassed material cost challenges.
Innovation is the cornerstone of CMiC’s business model and go-to-market strategy. CMiC relies on innovation on three essential fronts: its product strategy; the way it manages its customer lifecycle; and its talent development approach.
The biggest real estate construction tech story last year was Katerra’s raise of $865 million to finance the company’s explosive growth. Beyond the sheer size of the funding, the investment is notable for the bet it represents on the scalability of off-site construction.
A decade ago, construction was near the bottom of the list of industries that had adopted technology in a significant way. It was a bad rap for the industry, but it also effectively threw down the gauntlet. There’s been a huge shift in the industry as construction companies realize that technology needs to be a core part of their business.
As construction companies continue to increase the amount of data they are storing digitally, it’s becoming increasingly important to be able to sort through what is valuable information that can lead to beneficial action over what is simply noise. Using the right ERP (enterprise-resource planning) platform is critical to separating the wheat from the chaff when your company profits are on the line.