It’s no secret! Technology adoption in the construction sector lags behind other sectors. But this hasn’t stopped investors from splurging on construction tech businesses.
From 2011 through early 2017, construction tech firms have received a whopping $10 billion in investment funding, according to the McKinsey Global Institute.
This figure shows that the construction businesses could be huge technology adapters. It is just a matter of time before that potential is fully tapped.
So, what does this mean for the construction sector? Read on below to find out how adoption of technology in construction is changing the sector.
Larger Tech Budgets
Technologies designed for the construction sector don’t come by inexpensively.
Aside from incurring high costs of production, construction tech firms need to make a profit.
As a result, adapters of construction technologies have to pay a high price to use new technologies. This means construction companies are increasing their tech budgets to maintain their competitive advantage.
Higher Demand for Technologists
Technology can help to automate and digitize tasks that can take a lot of time and money to execute.
But it is not enough to match the right technology to the right application. Users also need to ensure they find the right people to operate the technology.
Thus, the increased use of technology in construction has increased the demand for technology experts.
The biggest gainers of new construction technologies are those that attract and retain top tech talents.
Ensuring workplace safety is a top priority for construction sector professionals. This was part of the main theme at our 2017 ICW event.
With the availability of security camera systems, 24/7 monitoring of construction sites is now possible, for example.
These cameras can help to detect suspicious activities or help to identify a potential safety threat before it happens.
Increased Use of Drone Technology
Adoption of drone technology is one of the hottest trends in construction right now. Drones equipped with cameras help gather vital information in hard-to-access locations.
Footage from these cameras can support a site survey. The footage can also help the project team better understand on-site conditions.
Today, drones are commonly used for photogrammetry and mapping.
Ease of Use Is a Top Consideration in Adoption of Technology in Construction
Generally speaking, construction sector professionals aren’t technology gurus. They’re simply users of technology. For this reason, they’re keen on adopting technology solutions that are easy to use.
If a particular type of technology isn’t easy to use, they’ll skip it. It doesn’t matter how functional or affordable it is. Thus, construction tech firms need to make user-friendly products for their customers.
Click here if you’re interested to attent ICW 2019 event and learn more about technology in construction.