Anyone who follows the construction industry understands just how vital advances in technology can be to the success and profitability of a project. Through continued research and development, building materials and tools, as well as construction-focused software, have all taken a huge leap forward in order to meet builders’ demands. We’ve examined the emerging technology trends in construction to highlight where the investment in technology is taking place, and how much businesses are investing in new technology trends.
If it feels like builders are investing in construction-based technology more than in the past, your instinct is correct! These investments have doubled over the past decade [source: Pitchbook Data]. And it’s not slowing down any time soon. 82% of surveyed construction companies plan to invest the same or more in technology this year [Source: Construction Technology Trends Report].
Sometimes it’s not the newest technology that is the most important to builders. Cloud-based software is certainly not new but remains critical, especially when loaded with valuable features. Not surprisingly, 73% of construction workers surveyed say project tracking is the most important feature for construction management software [Source: Construction Technology Trends Report].
Drones are quickly gaining popularity. Drones, paired with quality software, will effectively and accurately survey a job site and create 2D and 3D maps. They can inspect dangerous areas of the site without putting workers at risk, and can be instrumental in keeping the client up-to-date on the progress of the build. For those reasons, drone usage on construction sites is up 239% with construction being the fastest growing sector to make use of them [Source: DroneDeploy].
Green technology in construction has continued to rise in the United States. In fact, green building in the US is expected to increase by 45% with client demand being the #1 reason for growth [Source: Dodge Data & Analytics]. Unlike other technologies mentioned in this article, when builders go green, it refers to the types of materials installed into the building. This includes, but is not limited to: environmentally-friendly appliances, lighting, and air conditioning units. Reducing energy consumption and improving occupant health outcomes through green technology is a growing trend that is not likely to end soon.
Finally, while virtual reality technology has been around for a long time, it’s beginning to find its way into construction safety training. We know that construction is a dangerous industry, and safety training in the past has been lacking because trainers won’t put trainees in a dangerous situation in order to teach them the proper safety protocols. Thanks to virtual reality, we can simulate risky situations that lead to better training, without actually putting anyone in danger. The practice is gaining popularity, as 10% of respondents plan to incorporate augmented or virtual reality tools into safety training [Source: Construction Technology Trends Report].
As you can see, there are a variety of ways that emerging technologies have benefited the construction industry. If you need a lender that can help you increase profitability and efficiency with timely financing and feature-packed construction project management software, contact Snap.Build® today to learn more about how we can help you efficiently manage project timelines!