Trend Insight – Emerging Technology in Construction

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

In the second quarter of 2016, GlobalData surveyed over 100 industry executives, including contractors, surveyors, civil engineers and architects, to obtain an understanding of the state engagement with new technology in construction.

The results of the survey reveal a rejection of the assertion that there is a culture of resistance twoards engaging with new technology, however the majority of respondents stated that their company is not at the forefront of it's industry interms of engaging with new technology. The most commonly cited barriers were financial and included the assertion that many new technologies are cost prohibative and that there is a lack of allocation within company budgets for investment in new technology. However those who had invested were extremely positive about the benefits of engaging with new innovations.

In terms of the technologies analyzed that had experienced the greatest levels of current and planned investment, the most popular was mobile applications followed by 3D modelling and then cloud technology. In comparison, autonomous vehicles received the lowest level of current and anticipated investment.

Given the number of benefits available following investment, greater levels of engagement with technological innovations are expected as their affordability and capability increases and as they are given higher priority by companies in terms of investment strategies.

Scope

The report provides detailed market analysis based on a survey of contractors, surveyors, architects and others involved in the construction industry worldwide to assess current engagement levels with a number of the newest technological innovations currently gaining popularity within construction.

Key Highlights

The ever-expanding range of new technology available to those working in the construction industry has created numerous opportunities for innovation and the implementation of new methods into existing processes.

When questioned on what was preventing high levels of engagement with new technology respondents stated that a key barrier related to cost, with 42% of respondents stating that new technology was cost-prohibitive. This was followed by 33% of respondents stating that there is a lack of financial resources within their budget allocated for technological innovation.

The most common driver of investment in new technology was to increase productivity and respondents were widely positive that they had experienced this after making an investment. The second-most-popular driver for investment was achieving greater competitiveness within their market and once again the majority of respondents confirmed they had experienced this following an investment in innovation.

Of all the technologies analyzed in the survey, mobile applications received the highest proportion of respondents confirming that they had already invested in the technology and had further investment planned within two years.

Reasons to Buy

Providing insight into the most popular new innovations within construction along with an analysis of barriers and potential benefits.

Table of Contents

1. Executive Summary

TABLE OF CONTENTS

LIST OF FIGURES

LIST OF TABLES

2. Key Findings

3. Technology Engagement

3.1. Company Engagement

3.2. Departmental Engagement

4. Barriers and Benefits

4.1. Barriers to Engagement

4.2. Benefits of Engagement

5. Current and Future Penetration of Key Technologies

5.1. Augmented Reality

5.2. Mobile Applications

5.3. Drones

5.4. 3D Printing

5.5. 3D Modelling

5.6. Cloud Technology

5.7. Virtual Engineering

5.8. The Internet of Things

5.9. Autonomous Vehicles

6. Conclusion

7. Appendix

Table

Table 1: Departments engaging most with new technology

Figures

Figure 1: Level of engagement with new forms of technology

Figure 2: Barriers to engagement with new technology

Figure 3: Key drivers that encouraged investment in new technologies

Figure 4: Level of improvement experienced for each driver following investment

Figure 5: Respondents’ future investment plans

Figure 6: Investment plans for Augmented Reality

Figure 7: Investment plans for mobile applications

Figure 8: Investment plans for drones

Figure 9: Investment plans for 3D printing

Figure 10: Investment plans for 3D modelling

Figure 11: Investment plans for cloud technology

Figure 12: Investment plans for virtual engineering

Figure 13: Investment plans for the internet of things

Figure 14: Investment plans for virtual engineering

Frequently asked questions

Trend Insight – Emerging Technology in Construction standard reports
Currency USD
$3,950

Can be used by individual purchaser only

$11,850

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Trend Insight – Emerging Technology in Construction was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Trend Insight – Emerging Technology in Construction in real time.

  • Access a live Trend Insight – Emerging Technology in Construction dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.