5 Construction Technology Trends to Watch in 2020

Many construction companies have been hesitant to embrace new technology because they view it as an expense rather than a method to improve efficiency and cut costs overall. Companies that have been early to the new technology game have reaped the benefits of lower employee turnover, increased productivity, and fewer workplace accidents. Here are a few new technologies that began to take hold in 2019 and are expected to take off in 2020.

  1. Drones have been an increasingly valuable asset in the construction world for several years now. As their use increases, software companies are making programs specifically for contractors. Drones can be used to increase safety on job sites. For example, many contractors use drones to determine if a roof is safe for contractors rather than sending a human up to check. Drones are also used to collect data and ensure projects are being completed correctly and at the right speed. Builders License Training Institute offers an online Drones in Construction class. Choose your state below to get started.
  2. Construction Management Software is getting easier to use on the job site and more advanced by the year. Construction Management Software includes scheduling, project management, and timekeeping applications so you can keep track of all your job costs in one program.
  3. Project Management Solutions have come a long way. These programs are more user-friendly than ever and there are plenty of options to choose from. Project management software can provide a clear view of all activities and communications, as well as, the real-time progress of your projects.
  4. Building Information Modeling or BIM. BIM is a way of representing buildings, roads, and utilities through computer-generated images to help visualize the construction process before it begins. Architects and engineers use this software to determine how building materials will hold up over time. The ability to visualize projects before beginning work reduces wasted time, labor, and materials.
  5. Virtual Reality allows contractors to experience complex logistics first-hand and get an accurate gauge on a project. VR can help construction companies get a 360-degree view of the building before construction even starts.


Investors Are Pumping Billions Into Construction Technology

The construction industry has been always been slow to adopt new technologies.  However, investors are now pouring money into new construction startups, hoping the industry is on the brink of changes.

According to the Wall Street Journal, “ Venture investment in private construction-technology companies leaped to 6.1 billion in 2018, from $352.1 million in 2016. With $4.3 billion invested as of late June, 2019 is on track to be another record year.

Construction companies have been encountering labor shortages, pushing them to look for ways to build faster and cheaper.

New money being invested in these startups are businesses looking to automate parts of the construction process and make the industry less labor-intensive. For example, Katerra Inc., a company that builds components in a factory, has raised more than $1 billion from investors.

One challenge that won’t go away anytime soon is taking new construction-technology and incorporating it into affordable housing. Unlike developers who build luxury housing, affordable housing can’t charge more for rising building costs. As the industry adopts new technology, transitioning into a more economical budget range is important for changes in affordable housing to take effect.

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