In my ongoing research as I work with my team here at DigiBuild each week, I spend time looking at trends in construction technology. It’s one of the highlights of my week, and rather than having to make myself be diligent to do it, I find that it is harder to pull myself away for other responsibilities once I am engrossed.
I love to see the advances in both the physical world such as new tools, smart materials, new techniques, robotics, manufactured construction - the list goes on.
Of course, because DigiBuild exists in the digital world, I am most interested in what is happening there.
And there is a lot!
Here are just a few new developments and figures I have come across recently. I share these to demonstrate just how prevalent digitization is becoming and how it is the future of AEC.
A leading provider of a supplier collaboration platform, and another leading provider of plant and business automation, are teaming up to bring their resources to heavy construction.
Here are just a few interesting stats I thought I’d share today:
Global Field Force Automation software is forecast to grow 750% by 2030
Engineering Software will hit $50+ Billion by 2026, 7.7% growth
Construction firms with annual revenue between $1 million and $50 million still have roughly 80% manual information processes. This is changing fast. It is quickly becoming an adapt-or-die situation.
Only 35% of construction firms with annual revenue of $50-$100 million have adopted CM software. This is changing fast as well.
Digital Time Cards will eliminate paperwork, increase accuracy and save hours weekly.
Investment in construction technology surged by 324 percent in one year, from $731 million to $3.1 billion, much of that in software.
Building Information Modeling (BIM) is projected to grow from $4.5 billion in 2020 to $8.8 billion by 2025, a growth rate of 14.%
30 of the top ENR 400 companies have expressed interest in exploring and implementing blockchain technology.
Here at DigiBuild we are excited to be on the forefront of this wave of technology implementation.
Click here to schedule a talk with one of our team members, or to be included in our feedback process that goes towards making DigiBuild the biggest and best blockchain enabled construction software on the market.