Author: Laura Black
Perhaps one of the biggest trends we have faced in the past few years—and will continue to face in 2024—is the evolving workplace. The construction industry is certainly unique, as much work is still required to be done in the field. Still, many evolving workplace trends will impact construction just as it will any other industry. In fact, Gartner points to nine workplace predictions to watch in 2024. Let’s unpack each one of these general trends—and identify how it might relate to the construction industry specifically. Consider the cost-of-work crisis. Many companies are coming out of a remote or hybrid…
We are currently in the middle of a blog series, closing out 2023 and opening up 2024, that explores some of the most grandiose predictions from analyst firms, and we are dissecting what this all means for the construction industry. We have already explored sustainability, scheduling and project management, wearables, and generative AI (artificial intelligence), just to name a few. Now, let’s turn our attention to our technology infrastructure and operations and what is to come in the years ahead. Gartner recently unveiled the six trends that will have a significant impact on infrastructure and operations in the next 12-18…
As we inch closer to 2024, one area where we can expect more development and spending is with our nation’s infrastructure. Dodge Construction Network suggests following rapid growth in the past two years, nonbuilding/infrastructure construction will increase by 7% overall and some sub-sectors will even grow by double digits—but what role will technology play? Let’s take a closer look. Due to IIJA (Infrastructure Investment and Jobs Act), and other federal initiatives, most public works will continue to expand in 2024. Dodge predicts all but dams and flood control will rise, since this area already saw spending more than double from…
As we near the end of 2023, it is important to keep an eye on what is coming in 2024. Many organizations study trends in the market and place their wages on whether the construction industry is going to contract or grow in the year ahead. Taking a close look at many of these reports will help companies prepare for business in the year ahead. Consider the example of JLL’s U.S. and Canada Construction Trends 2024 report, which details a positive outlook for the construction industry. The report suggests 2023 has been a year of stabilization and 2024 will be…
As the end of 2023 approaches and the beginning of 2024 nears, we are taking some time to look at some of the most ambitious predictions to have a better idea of where we are headed in the years ahead. Let’s look at one specific report, as it relates to sustainability in many vertical markets including the construction and real estate sector, which comes on the heels of the U.S. Inflation Reduction Act passage roughly a year ago, which was meant to kickstart the economy with investments in critical infrastructure, with a special focus on initiatives that will help meet…
One area of construction that is critical to project success is scheduling and project management. As we are on a journey to identify predictions for 2024 and beyond, let’s spend some time at the jobsite to identify some of the biggest trends to recognize what is to come next for the project team. Here’s the reality. We all know technology can help make project sites more efficient and create greater opportunities for all, but is technology being used to the fullest? Unfortunately, the answer is often no, and we have multiple reports that point to this trend. Consider the first…
We know the labor shortage is a challenge for many industries, including construction. Perhaps the question we should begin asking is what are the reasons for staying and what are the reasons for leaving. At the end of the day, we need to identify how to best retain talent, and there are a few new predictions that point to big trends. Perhaps one of the best places to start is with pay. The 2023 ASCE (American Society of Civil Engineers) Civil Engineering Salary Report cites an average annual salary of $128,000. Base salaries have risen by approximately 7% from 2022…
How will the residential remodeling markets fair in 2024 and beyond? That is the question many in the residential construction community might be considering, and the recent LIRA (Leading Indicator of Remodeling Activity) points to what is to come specifically for the remodeling market in 2024. Released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, the LIRA provides an outlook of the national home improvement and repair spending to owner-occupied homes. It is designed to project the annual rate of change in spending for the current quarter and the subsequent four quarters. Additionally,…
In our current blog series, we are looking at predictions for 2024 and beyond, identifying what technologies will be hot—like generative AI (artificial intelligence)—and what technologies will not. Today, let’s look at the top 10 strategic predictions from one analyst firm. Every year, Gartner analysts present the top 10 strategic predictions. This is perhaps one of my favorite crystal balls to look into each year because the predictions are, well, grand, and while some of them stick and some of them do not, it does give an interesting picture of what the future will hold. Let’s take a look at…
We are currently in the middle of a blog series where we are looking at predictions for 2024 and beyond. We have already looked at the general construction market, the risks that exist, the worker shortage, and one of the hottest technologies of the year: generative AI (artificial intelligence). Today, let’s turn our attention to a technology that is not quite as popular, but still offers quite a bit of benefits: wearables. Let’s start by looking at the state of wearables today. In the second quarter of this year, wearables bounced back a bit, reversing two previous quarters of decline,…