Need of of Digitization
The construction industry has affected by COVID-19 pandemic. Construction companies are forced to reduce the skill workforce to COVID-19 safety requirements in the pandemic period. As a result, trained labour is overworked, projects are delayed, and expenses rise.
Digital transformation and AI is the need of construction industry to overcome the challenges of project. Digitalization is helps to reduces operational cost and human mistakes. Some of the top companies are developing strategies to improve their technological parameters in order to drive the business model along with increase efficiency and productivity.
Several technologies, such as small construction robots, are being more widely used in construction automation. Autonomous construction equipment are plays an key role in the mining, road constructions, building construction and other applications. As per study, The global Autonomous Construction Equipment Market is expected to reach USD 15,543.07 Million by the end of 2028, growing at a CAGR of 10.14% between 2023 and 2030. Morover, drones are used by several firms to monitor building projects and provide real-time updates to stakeholders. In 2019, University of Michigan researchers demonstrated an autonomous drone that can nail roof tiles. This might change job site safety because falls are one of the most prevalent causes of harm on construction sites.
Similarly, the sector is adopting technologies such as remote sensors and artificial intelligence (AI) paving the way for autonomous vehicles. Several businesses have already begun to use robotics. According to a 2017 survey, 12% of construction organizations are just getting started using robotics. Another 4% indicated they were using these technologies in all of their projects.
Some analysts predict that by 2026, the sector will have spent $4 billion on artificial intelligence (AI). Since AI is the underlying technology that enables autonomous driving, this investment is likely to result in construction robots that are safer and more precise.
Furthermore, developing cutting-edge vehicles that can do basic building site errands using a mix of LIDAR sensors, GPS, and other modern technologies are also paving the way for autonomous construction equipment.
As a result, an upsurge in the implementation of technologies will open up the enormous growth opportunities for the companies to strenthgen market position.
Kalyani Raje / Linkedin
With a work experience of over 8+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as report writing, content writing, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.