1.Building Information Modeling (BIM)
BIM software use is projected to grow across the construction industry. A 2019 report by MarketsandMarkets shows that the BIM software market value will increase from $4.9 billion in 2019 to $8.9 billion by 2024.
The introduction of building information modeling (BIM) software allows building engineers, architects, and construction designers to generate a digital design of their project building or structure on a computer before constructing it on the actual site.
This allows them to test out the viability of plans and blueprints based on the information they have and against several factors such as materials used, weather, foundation types, and more. This helps them discover potential issues in the design, spot discrepancies, and make the necessary changes to the overall design to meet functionality requirements, industry standards, regulations, and compliance.
Corrected/adjusted designs can be converted into plans, drawings, blueprints, and PDFs in a flash and can be shared in just a few clicks, complete with technical descriptions, layers, references, and comments.
In addition to BIM software, check out FinancesOnline.com list of construction management tools to fully complement and add to your BIM’s functionality and value.
Augmented/virtual reality is not new but its perceived applications in the construction sector are quite novel. Combined with BIM, augmented/virtual reality has the potential to change the way architects, engineers, industrial designers, and other players in the construction field perform their work.
Using AR/VR headsets, construction professionals can immerse themselves in 3D environments that are constructed based on their design. They can walk through virtual rooms and sections and perform thorough inspections of their structure. It enables them to spot potential flaws in their work, make the necessary changes to prevent expensive change orders, and streamline the actual construction process.
AR/VR technology has the potential to increase project efficiency and improve profitability. It provides engineers and architects a clear picture of their buildings before they physically exist, helping them make more intelligent and precise design decisions.
AR/VR is not yet a staple feature even in the best construction management software. But its applications in the construction field will make it an extremely popular functionality in the near future.
3.Internet of Things
Construction is a massive endeavor that requires a huge investment in equipment, gear, vehicles, and other assets. Monitoring a large inventory of assets with a construction project management software for small business will not cut it.
With the Internet of Things (IoT), construction firms have a new way to track their assets. On top of that, interconnectivity among assets makes it possible for devices to transmit, receive, and share data, which can be used and analyzed for a variety of purposes.
IoT enables construction companies to monitor their assets in real-time and schedule construction activities as well as repair and maintenance to further improve performance and prolong their service lives. Each asset generates a wealth of data that is analyzed and dissected thoroughly, providing users with actionable insights that they can use to further improve overall efficiency and maximize their investment.
Construction equipment theft is a major problem for many construction firms in the United States. According to the LoJack Corporation Study on Construction Equipment Theft, the construction industry loses approximately $300 million to $1 billion annually due to stolen heavy equipment, including loaders, generators, light towers, and excavators.
IoT also empowers accountability as each device or equipment automatically logs the name of its users. This helps create a reliable audit trail while preventing construction equipment theft.
The Lack of Skilled Workers
There is an ongoing crisis in the global construction sector and it is not the absence of jobs. In fact, there’s too much work going on as urbanization continues to soar in many developing areas. The problem lies in the lack of skilled construction workers.
Many construction firms are not keen on adopting new technologies and those that do struggle with their digital initiatives. As many construction workers from the older generations retire, a new breed of construction professionals enters the scene. These young workers are increasingly more sophisticated and tech-savvy than their older counterparts, but their numbers don’t exactly fill the void left by the latter.
The construction industry is one of the least technologically advanced sectors in the world and the slow digitalization is making it unappealing to many young and new members of the workforce. Firms must recognize this and up their ante if they are to nab the best talent and remain competitive in this ultra-competitive market.