The end of every year brings up the latest findings, opinions, and recommendations from a variety of business touchstones. Forrester, IDC, Forbes, Gartner and many others offer up published and association-driven surveys and report findings. And specific to the construction industry, we look to Construction Dive, FMI, ARCHITECT and Builder Magazines for insight into past performance, current trajectories and future trends.
The Value of Data
While most industries have undergone tremendous changes over the past few decades, and have reaped the benefits of technology and innovation, the construction sector has been hesitant to fully embrace these opportunities. Yet with the rise of digital tools, forward-thinking construction firms are viewing new processes to leverage data-driven insights. Companies are catching onto the potential of 21st-century technology in construction management practices, so it’s expected that the construction industry will invest in data collection, analytics, and decision-making processes to define and act upon key data insights.
“Technology companies are mining that data for insights that could boost the efficiency of both current and future projects by beaming actionable, real-time information directly to builders’ mobile devices.” – Fortune
Modular and Prefabricated Projects
Modular and prefabricated construction projects will continue in growth and popularity. They can be built more quickly and cost-effectively, yet still meet/exceed client expectations. Since the units are built at a factory offsite, weather becomes a non-issue. And post-production, any unused and excess material are recycled, so waste is greatly reduced.
“The increasing re-emergence of prefabrication was underlined when Google recently announced that its state of the art new European headquarters in London will use GBE Services London, an offsite MEP company, to assist in the design of the complex project.” – Constructibles
Technology and The Workforce
Three cheers for the workforce! Despite the rise in robotic technology, buildings will continue to be built by humans for the foreseeable future. Instead, 2019 will be about leveraging technology to empower the workforce to do their jobs more efficiently and productively.
“Technology is improving the construction industry in the office, through equipment and materials, on the jobsite and even with personal protective equipment.” – Construction Pros
Reduced Labor Force
With unemployment at near record lows, the U.S. construction industry is faced with the prospect of a reduced workforce. With the skilled labor shortage showing no signs of slowing down, companies will turn to technology to do more with fewer resources and will continue to hire and train employees to incorporate technology into their work.
“Seventy-nine percent of construction firms plan to expand their payrolls in 2019, but an almost equal percentage are worried about their ability to locate and hire qualified workers.” – Associated General Contractors of America and Sage Construction and Real Estate.
We know our customers are always looking for ways to improve their project success, labor productivity, and overall business success. And with so many technology changes on the horizon, companies must stay up-to-date if they want to remain competitive. Team up with Rhumbix today to help capture field data, measure labor productivity, and use data-driven decisions to improve project outcomes.