Construction sector in Canada
Construction is a major industry in Canada, employing more than 1.2 million men and women. The construction industry in Canada is experiencing a transformation. New technologies tailored to the space are creating greater efficiency.
Construction sector is an important contributor to the economy. Canada’s construction industry output value was estimated to be US$291.2B in 2019. This is expected to grow to US$304.6B in 2023 (measured at constant 2019 US dollar exchange rates), at a compound annual growth rate (CAGR) of 0.90%, according to Global Data.
Adoption of new technologies including robotics/automation, new materials and building methods results in boosting production of construction sector in Canada. Worker training initiatives are another factor. Emerging artificial intelligence is already used commercially for automated earned value tracking in concrete and steel construction. For mechanical, electrical and plumbing processes scan-to-BIM (building information modelling) and scan versus BIM technologies ensure that everything is routed where it is supposed to be.
Cloud based solutions technology is having a significant impact on the construction industry, and organizations move to the Cloud to boost productivity, efficiency, and safety. Cloud based solutions is a game changer with the power that helps to not only better manage contract workers, but also completely shift landscapes. Tracecost is also a cloud based management software allowing changes and updates to be made in real time, facilitating better communication and collaboration for work effectiveness and enhanced efficiencies.
Automated building to 3-D (building is constructed first in virtual reality and then built the way it was designed) is the next big thing. Motion sensor suits that track worker movements are another innovation that can help reduce injury and improve production output in construction sector in Canada. Other examples of new materials and technologies raising productivity levels include sustainable warm-mix asphalt and organic bricks and automated business process workflows for change requests.
The industry scenario-based approach to assess future labour market conditions provides a powerful planning tool for industry, government, and other stakeholders to better track labour market conditions and identify potential pressure points. The anticipated labour market conditions reflect the current long-term economic outlook and industry major project assumptions. Any changes to these assumptions present risks and potentially alters anticipated market conditions.
All in all construction sectors in Canada is accelerating its pace. Be it a large, small or medium construction firm, everyone is striving for modern technology. The most significant aspect associated with the industry is increased use of the latest technologies for pacing up the work. With the importance given on security and infrastructure, overseas job prospects in this industry are increasing day by day. Cutting edge technology is being adopted by Canada's construction sector for leveraging purposes and is mainly being used in raising the efficiency level of engineering and designing of construction industry.