Autonomous technology could revolutionize a construction industry. The use of autonomous technology is increasing in the Mining industry. Large, autonomous haul trucks are currently used on mining sites in some of the countries. Some of the top players of autonomous construction equipment including Caterpillar and Komatsu are focusing on autonomous technology to accelerate construction industries. For instance, Caterpillar has the largest fleet of autonomous haul trucks and it achieves 2 billion tonnes hauled with autonomous trucks system in just over six years. Moreover, Caterpillar has done significant R&D investment in the market to boost its growth. Further, the company is involved in several strategic acquisitions of other market players to expand the product portfolio of the company.
The construction industry is one of the key sectors in the global economy, with around $9 trillion spent each year. Building and construction activities are on the rise, necessitating a highly competent staff on the job site. However, the construction sector is experiencing a labor shortage. The shortage of laborers at construction sites is expected to have positive impact on autonomous construction equipment market. According to the Associated General Contractors of America's (AGC) 2020 Construction Outlook Survey, 81 percent of construction firms are having problems filling both paid and hourly craft roles, and 72 percent expect labor shortages to be the main challenge in the coming year. The emergence of autonomous technology could help to alleviate some of the burdens caused by a manpower shortage in the construction sector.
Autonomous technology plays an important role in the construction industry. This technology bridges the gap between supply and demand, and it can speed up production schedules, boost accuracy, increase efficiency, lower prices, and free up trained human employees for other activities. Everything including soil compaction to asphalt rolling is done using autonomous heavy equipment. Overall, autonomous technology has the potential to shift people's perceptions of the construction sector and assist in addressing the labor crisis.
Author's Detail:
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.
Author's Detail:
Kalyani Raje /
LinkedIn
With a work experience of over 10+ 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 sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
