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Building Construction Software Technology

Delivered November 20, 2019. Contributor: Benjamin H.

Goals

To obtain information about the use of technology in building construction, including case studies, challenges/pain points, disruptions, and investments.

Early Findings

  • ConstructConnect reports that construction firms are underinvesting in technology; however, "venture capitalists are betting big on the future of [construction technology]".
  • According to a report released by James Long LaSalle, Inc., venture capital firms invested a total of "$1.05 billion in global contech startups during the first half of 2018". This represents an almost 30% increase from the amount invested throughout 2017.
  • Investors have successfully "closed 478 funding deals totaling $4.34 billion" since 2009.
  • Today, software and mobile solutions are available to help in managing all aspects of a construction project.
  • In terms of artificial intelligence (AI) and machine learning (ML), construction companies are now leveraging data to increase productivity, make better decisions, reduce risks, and improve job site safety.
  • The tools that bring virtual reality (VR) and augmented reality (AR) to the worksite are becoming increasingly widespread and more user-friendly.
  • Also, as AR and VR "technology becomes more integrated in the digital workflow, the possibilities that open up seem limitless".
  • In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.

Proposed next steps:

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