The latest construction industry statistics show a booming and sustainable sector. Yet, rising construction costs and labor challenges in addition to new regulations are reducing the margin for error and waste.
For an industry that remains slower to innovation and adopting trends, the same construction trends persist year after year with slightly different nuances. New technology is continuing to change the construction site, improve the ability to win projects, and increase profit margins. Trends and movements are changing the roles of industry professionals and frontline workers.
As the industry becomes more competitive and the market shifts, harnessing these construction industry trends will prove valuable for any construction firm. Read on for the must-watch construction trends of 2020 to help you can stay competitive and gain an edge in the industry.
The biggest differentiator for builders and developers this year is likely to be technology in construction — specifically, the innovations that can enhance efficiency.
Experts see it as being a powerful component in providing a more secure and fast-moving workflow that gives all parties involved more confidence and productivity.
Smart contracts offer all organizations in a project a shared system to do business, allowing them to buy, track, and pay for services. Rather than getting contracts and tracking deliverables from all separate parties, firms can use smart contacts as an all-in-one tracking system where rules and deadlines are set and the blockchain enforces them. This system will carry make for faster closeouts, increased security, better project tracking, and an automated supply chain.
Drones in Construction
Drone use in the construction industry continues to be one of the fastest growing trends, with usage rising by 239 percent year over year. The technology offers far more uses than just aerial photography for real estate and commercial efforts.
Today’s drones are used for rapidly mapping large areas over long distances, producing valuable aerial heat maps and thermal images. The advancing drone software provides real-time, actionable, data that can be used for rapid decision making, streamlining the entire construction process.
Personal safety and equipment loss continues to be the biggest areas of liability in construction. Drones can be increasingly used to reach heights and do jobs in place of human workers to prevent injury. Between $300 million and $1 billion in construction equipment is stolen each year. As on-site security tools, drones can be leveraged to reduce labor costs and minimize the risk of theft. That keeps projects on schedule and moving faster too.
More advanced future uses include monitoring equipment use and incorporating AI to organize moving construction equipment.
Augmented Reality (AR)
The augmented reality is expected to be worth $90 billion by next year as it continues to provide new applications. On the client front, AR means efficient project staging and making pre-construction projects tangible for buyers and tenants.
For the builders and developers, AR facilitates the use of wearable technology as well as 360-degree video to enable:
- 3D visualization of future projects on their surrounding environment
- Automated measuring of buildings
- Fast and affordable simulation of architectural and structural changes
- Safety training and hazard simulations
These construction industry trends are changing the business and global landscape. Rising prices, scarce skilled labor, and regulatory challenges may only become tougher over the next few years. By adopting new practices, leveraging new technologies, and investing in new projects, builders and developers can reduce risk, win more contracts, and enjoy profitability. Udhaya Construction, one of the best construction company in theni. Visit theni building contractors for building your dream house at best prices.