The construction industry is making headway in digitization. As one looks back through the industry’s history they can notice the amount of advancement this industry has witnessed; this year is expected to testify more of the same to occur. Below are a few noteworthy trends that one will see in the construction industry shortly.
1. Data is the King: Although last year had undergone significant technological advancements, yet it was only the tip of the iceberg in the context of achieving data-driven insights. In 2019, construction firms will be further focusing on the internal data collection procedure, analytics and decision-making process which includes- hiring data specialists, or integrating new data sets into their internal platforms.
2. Point-solution fatigue: Technology providers are coming together to build a truly integrated system as users do not prefer multiple platforms for similar functionality. On the providers' end, Application Programming Software (API) will become more convenient as the enterprise software players will develop the feature to incorporate new datasets and tech-startups will collect more data.
3. Technology isn’t replacing workers: In spite of the advances in technology, or automation there will be tasks that can be done by humans only. Technology is not here to replace the workforce; it is here to empower the workers. Contractors are in search of solutions that are employee-friendly therefore they are prioritizing features like battery life or worker privacy. Labor crunch is one primary reason that companies are training employees to incorporate technology into their daily tasks.
4. IoT is a significant link: The year 2018 has witnessed the IoT growth and this year as well contractors are looking forward to making automatic data collection from workers, equipment and other vital tools as their priority. IoT is all set to become more embedded in the existing construction processes, in areas such as site control and security to achieve efficiency gains.
5. Insurers are embracing IoT: In 2019, many insurance organizations will make their way in the IoT and data analytics domain, as a critical part of their risk management and mitigation practices. Insurers are embracing this technology as it helps to deliver value to their clients and prevent unnecessary losses.