Overview
The projected size of the construction market is $15 trillion by 2030, up from $8 trillion today. A recent study expects that 75% of the infrastructure that will exist in 2050 does not exist today and expects that the design and expected outcomes will be transformative. We will have to double the current infrastructure and then double it again by 2050.
The industrialization of construction and the application of proven manufacturing technology and best practices will help companies drive reliable outcomes and improve margins by increasing productivity and eliminating waste and the impact of surprises with real time information. Existing business models will collapse as construction ready disruptive technologies like robotics, mobility, virtual design and 3D printing redefine design and construction processes.Construction companies will compete with each other as well as with other industries to secure and retain the best talent. Digital technologies will play a major role in attracting and retaining the brightest people capable of transforming the construction industry.
Challenges
Stringent rules and regulations
Consumer lifestyle and increasing demands
Unfavorable contract terms and project delays
Heavy competition and accelerate affordable new product
Shortage of skilled resources to manage complex project processes
Environment, health and safety issues
Solutions
- Opportunity and Proposal Management
- Pre-Manufacturing Operations
- Sourcing and Contract Management
- Virtual Design and Construction
- Maintenance and Facility Operations
- Intelligent Buildings
- Real Estate Management
- Logistics Networks
- Warehouse Management
- Transportation Management
- Response and Supply Planning
- Project Management and Collaboration
- Buy and Deliver Goods and Services
- Safety, Quality and Productivity
- Contract and Invoice Management