Construction Industry overview- 2020
As we have entered 2020, it is time to take a look at construction industry trends over the past decade and keep up with new and emerging trends in the industry. Keeping on top of trends in the construction industry not only helps keep your company from falling behind, but it helps you prepare for the future. With the continuing growth and evolution of the construction industry, companies must stay up-to-date if they want to remain competitive.
As these project management solutions get more advanced, they will continue to be a rising trend in the industry in 2020. Construction project management software is getting increasingly more advanced and easy to integrate on the job site. Many project management solutions are bundling scheduling, project management, and timekeeping in order to better serve construction companies.
Technological advancements in the construction industry are not limited to just software. Drone usage is becoming increasingly popular with construction companies as the technology advances and becomes more affordable. Drone usage is increasing safety, accuracy, and efficiency on the job site and has the additional benefit of gathering information for survey data. Technological advancements and integrations are a rising construction industry trend that will definitely carry over to the next year.
Prefabricated and modular construction is another rising trend because of the time, energy, and cost savings it provides. Modular construction saves companies a significant amount of time and money and the companies do not have to deal with usual barriers to construction such as weather or limited working hours. The units also recycle material that ends up being unused or excess. This helps cut back on waste and make the building process more sustainable, which is another rising trend in the industry.
Along with the countless technological advances being made, construction project management software is a trend that will surely carry into 2020. The number of companies producing their own modules for current project management solutions has increased within the last couple of years. Not only are the user interfaces designed to be more user-friendly, but there are a plethora of options to choose from. Cloud based project management solutions now have features such as real time solutions, equipment rentals, and change orders in addition to traditional project management options. The software can keep all documents related to the project in one location, which can help subcontractors and contractors get paid at the end of a project. In fact, most mobile devices can leverage cloud technology from anywhere, at any time. Tracecost uses cloud based management software for real time management and use of precise data and reporting.
Building information modelling is another growing construction industry trend that will carry over into 2020. A construction project designed with BIM helps subcontractors identify areas for energy improvement and usage throughout the building. This helps the planners optimize energy levels to reduce long term costs of running the building. BIM technology is both economically and environmentally beneficial to the construction industry. Using BIM technology helps subcontractors analyze their current building methods and gives them the tools to develop new, more sustainable practices that are tailor-made to each building design to optimize building efficiency.
To summarize, 2020 is expected to be a breakthrough year for the construction industry. There has been a rise in several new trends in the construction industry. As the construction industry is constantly evolving, it is essential to stay up to date with these trends to stay competitive.