Innovation in technologies and in processes has the potential to dramatically transform the landscape of the building industry in the short term. Here are some of the top technologies that present opportunities for change.
According to Mckinsey, the construction sector has the lowest productivity gains of any industry.
For a sector with a global turnover of $10 trillion, productivity concerns are a harbinger of doom, and it doesn't help that we are overwhelmed with information about the likelihood for disruption in the industry – new technologies that will fundamentally change the way the market evolves.
A recent report by the consulting firm on construction’s digital future indicated R&D spending in construction was, to its detriment, well behind that of other industries. McKinsey predicts that the industry is overdue in embracing newer technologies: “ripe for disruption”.
So, what are the next wave of technologies that are likely to enhance efficiency, mitigate risk and disrupt the construction industry?
1. Robot Automation
2. New Building Materials
3. 3D Printing
4. Prefabricated & Modular Homes
5. Augmented Reality
