Digitization Trends in the Construction Industry

The construction industry has been shifting paradigms for a very long time. With rapid digital transformation, technology has penetrated construction procedures in very sophisticated ways. With the correct technological innovation suited to different construction aspects, the companies can become more efficient, increase their revenue, and offer incentives to investors.

This blog highlights 3 current digitization trends in the construction industry.

Augmented Reality (AR)

It’s a view of the real world contemplated through computer-generated graphics and videos. Augmented reality can transform how builders and engineers use the information and other facts to make more feasible construction decisions. Through access to smartphones and tablets, construction workers can have access to simulations anywhere.

The best feature of AR in construction has been the invention of walkthroughs of logistically complex plans. AR enables engineers to imagine the complete project with exact dimensions before beginning. Based on that, the team can navigate through each stage of the project and omit errors.

This trend is expected to grow its scale in the years to come.

Cloud Technology

Just like other businesses, the construction industry is catching up on incorporating cloud technology in their practices. All smartphones and tablets can link to the cloud through stable internet, and people can use them from anywhere and anytime.

More and more construction businesses have begun to save money on expensive IT infrastructure and shift processing through powerful cloud servers. Cloud technology enables construction companies to store their data remotely in a secure manner and have access to it 24/7.

It enables contractors to work on the same data sets across locations. It has also lessened the burden of manual tasks and saved time, money, and risks, improving productivity and profitability.

Through cloud technology, builders can collaborate, share data, track inventory, and communicate logistics within and outside the team.

BIM Technology

Building Information Modelling is a technique of producing digital representations of buildings, roads, and utilities. These digital models can be used by engineers and shared among teams and different levels of management.

BIM technology is not limited to 3D renderings. It comprises of 4D (time), 5D (cost) and 6D (as-built operation) as well. It enhances collaboration and helps teams stay in touch throughout the project. It also reduces construction costs and ensures safer structures.

According to a report by NBS, construction companies have a favorable response towards BIM, where 80% of the people believed that BIM is the future of construction and project management.

Are you looking to upgrade your construction business through digitization? Global Capital Partners Fund can help you. We offer the best hard money loans, commercial real estate financing, construction financing, and bridge financing in Columbia, SC. Set up an appointment with our consultants today, and we’ll guide you.

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