ConstructConnect Blog

When it comes to investing its hard-earned dollars in technology, you can’t say the construction industry hasn't been consistent. As in recent years, the 2018 JBKnowledge Construction Technology Report found that construction firms are still investing less than 1% of annual sales volume in technology.

In the next 20 years, it’s possible that all the backhoes, excavators, dozers, graders, and other heavy equipment we use on construction sites will move away from diesel engines to all-electric. For years, the Environmental Protection Agency (EPA) has been enacting stricter emissions standards for nonroad diesel engines like those used in construction.

A few months ago, The Economist referred to data as the oil of the modern times, underlining its immense importance for every aspect of society both on a professional and personal level.

If the construction industry is anything—it’s consistent. For roughly 20 straight years, the industry has racked up the “least improved” award for having the lowest annual productivity gains globally of any industry. This means construction is still way less productive now than it was in 1995, according to a 2017 McKinsey Global Institute (MGI) study.

Whether in the concrete or walls and ceilings trade, most small contractors are on the hunt for their next project. With razor-thin profit margins and competitors popping up overnight, it’s easy for contractors to lose sleep as they struggle to stay in the game and grow their business.

Netflix and Apple are not media companies. Tesla isn’t known as a manufacturer. They are tech companies.

“I can pull up by the curb. I can make it on the road. Goin' mobile. I can stop in any street and talk with people that we meet. Goin' mobile. Keep me movin'.” – The Who

Early last week, cybersecurity firm Trend Micro released a report based on a two-year research project exploiting vulnerabilities they found in radio frequency (RF) remote controllers used to operate construction equipment like cranes and excavators.

There is no denying that technology has altered our lives forever. From the powerful smartphones we carry with us everywhere we go to the satellite systems that guide us in the right direction as we navigate from one place to the next, technology is interwoven into virtually every part of our lives. Even our homes and other buildings are being constructed in revolutionary ways that make them sturdier and longer-lasting than ever before.

According to a recent post, the construction industry as a whole has seen little to no improvement in productivity over the past eight decades. While productivity plateaus and construction projects become more complex and time-intensive, construction companies also face tedious day-to-day management and inaccuracies that can tank a project’s profitability.