Author: Laura Black

Continuing on with our blog series, today let’s look at the construction estimating software market and how it is evolving. Today, there is an increasing need for cloud-based applications and mobile access, which is driving advancements in the construction estimating software market. In fact, Persistence Market Research suggests the global construction estimating software market is expected to grow from $340 million in 2021 to $357.4 million in 2022. Looking forward, it will grow to $556 million, showing a 4.5% growth rate from 2022-2032. Integration is one big estimating trend to watch in the construction industry. As one example, in January,…

We are embarking on a blog series where we identify how technology are enabling business processes in construction such as project management. Up next: accounting and job costing. In construction, accounting is complex, but critical to business operations to ensure the company can operate on tight margins. Construction job costing tracks the company’s progress to help the business make informed decisions. If done well, the company will be able to create quotes that are low enough to compete, but still high enough to turn a profit. It is certainly a fine line. In this day and age, technology—more specifically data—is…

For the second half of our blog series on hot construction technology, we are looking at how technology can enable process, procedures, and business practices. Things like collaboration, project management, scheduling, accounting, estimating, and more. All of these have existed in construction before the dawn of technology but are now being enabled by technology in new and interesting ways. Last week we dove into the topic of project management and discovered AI (artificial intelligence) is playing a bigger role than ever before, as technology providers are also aiming to created integrated project management platforms for construction. Today, let’s look at…

“Operations keeps the lights on, strategy provides a light at the end of the tunnel, but project management is the train engine that moves the organization forward.” Joy Gumz once so astutely said these words, and they are so apropos for construction where project managers are tasked with managing time, cost, and quality of often billion-dollar projects. If project management is done well, then the project is often a success, but if even so much as one ball is dropped, then time, cost, or quality could be sacrificed. There is perhaps no greater area of a construction business that technology…

Collaboration is a buzzword that has been used in the construction industry for more than a decade, but what exactly does it mean for project teams—particularly as it relates to technology? We have some thoughts. The dictionary defines collaboration as the action of working with someone to produce or create something. At its core, collaboration isn’t new. It has been part of the construction industry since the dawn of time. However, when applied in the context of technology, it means tools and systems designed to better facilitate that group work. In the first half of this blog series, we looked…

We are in the middle of a blog series where we are looking at hot construction technology, digging into projected growth for these technologies, specific examples and case studies for construction, and opportunities for the future. Already having explored 5G, AI (artificial intelligence), digital twins, wearables, AR (augmented reality), VR (virtual reality), MR (mixed reality), and the metaverse, today let’s narrow in on robotics. Naturally, robots mean different things to different people. They might drum up images of a futuristic world of George Jetson, his robo-maid, and his career of manufacturing sprockets. This robotic world is often glamorized for the…

Although adoption may not be as wide as digital twins, AI (artificial intelligence), 5G, and AR (augmented reality) and VR (virtual reality), wearables pose an interesting opportunity to the construction industry and can be categorized as a hot construction technology to watch. The overall market is anticipated to grow as well—driven largely by consumer demand, although there are potential business applications as well. Consider this. The global wearable technology market size is expected to reach $118.16 billion by 2028, registering a growth of 13.8% from 2021 to 2028, according to ResearchandMarkets. This is in line with the fact internet penetration…

We are in the middle of a “Hot Construction Technology” series where we are uncovering some of the latest technologies to infiltrate the construction jobsite. So far, we have looked at 5G and AI (artificial intelligence). Today, let’s narrow in on AR (augmented reality), VR (virtual reality), MR (mixed reality), and the metaverse—all of which will change the way construction professionals do business in the years ahead. First, let’s define each, look at some growth projections, and then identify how these technologies will impact the construction industry specifically. Virtual reality is a computer-generated simulation of a 3D image or environment…

Construction technology is heating up, as the labor market and economy are cooling down. In this blog series, we have already looked at how 5G and AI (artificial intelligence) are directly impacting construction, with very specific examples. Today let’s narrow in on digital twins. Of course, we can’t really talk about digital twins without first talking a bit about BIM (building information modeling), which we have been covering here at Constructech for more than two decades. As we have always said, BIM is a process, which is enabled by technologies to plan, design, and construct homes and buildings. At a…

It can easily be said that AI (artificial intelligence) is one of the most disruptive technologies of this decade, as it is impacting nearly every vertical market—and construction is no exception. For today’s blog in our “Hot Construction Technology” series, let’s narrow deep into the wide world of AI, with very specific examples for construction. Broadly, AI is set to impact nearly every industry, with Gartner forecasting worldwide AI software revenue will total $62.5 billion this year, up 21.3% from 2021. The top five use cases across all industries include knowledge management, virtual assistants, autonomous vehicles, digital workplace, and crowdsourced…