This year has presented the world with a variety of impacts that have changed not only our lives but the industries we work in. As we adapt and evolve with those changes, the trends in the construction industry have seen an interesting change. Below are the top five trends in the construction industry due to the current events of 2020.
Increased Technology Integration
Construction companies not only look for innovative solutions to increase the speed and efficiency of the building process but look for ways to implement innovations to specifically help save move while improving productivity. Technology is usually at the core, as more advancements help companies strive towards their goals faster and help their workers become more productive. These innovations, listed in our article Technology Changing the Construction Industry, already proved to be game-changers this year. But with COVID-19 implementing regulations and limitations to increase the safety of many, some of the operations have become remote. Evolving technology has proven to keep projects on track with new features such as virtual reality and upgraded software allowing users to collaborate remotely.
The integration of technology applications into one another also helps users manage almost every aspect of the construction project. This results in less lag time to master software programs and increased time and productivity of the user. An example of this includes drones, allowing workers to survey one or multiple job sites quickly, complete safety inspections, and more.
Increase in Off-Site Projects and Aspects
With the virus impacting material markets, pricing, and the labor markets, off-site and remote pre-construction methods are increasing as firms look to find flexibility in their budgets with the various changes. This assists in increased productivity by timelines for projects becoming shorter due to increased efficiency proven in this method. A controlled environment leads to improved construction safety by limiting hazards that can occur on-site of a project.
Increased Safety Equipment
While construction companies make it a top priority, safety in the workplace and its equipment has led to additional improvements in safety standards of equipment and personnel. By utilizing technology advancements, such as fitness or health trackers, wearables or work boots with GPS and BlueTooth technology can send alerts to supervisors if workers become too tired, experience certain symptoms, or may be injured.
Increase in Regulatory Burdens
A regulatory burden is defined to include all costs that result from mandatory obligations placed on businesses by public authorities on the basis of a law, decree, or similar act. This also includes costs that could be termed psychological costs or “irritation costs” as well as the total economic cost to society generated by a regulation. Regulatory burdens can impact the pricing on land and lot development and have increased pricing this year alone.
The Need for Labor
While there has always been a need for labor in the construction industry, but the impact of events this year has resulted in a more intense need as it affects other aspects such as housing and business affordability. The fewer personnel on the job, the more expensive a project becomes. As the coronavirus continues its impact on the general labor market, construction companies are vocalizing more than ever before for the need of workers. Some companies are implementing technological training software, making a wider range of applicants to apply.
Jerdon Enterprises, L.P. has over three decades of engineering and construction experience. View our portfolio to check out projects we’ve been involved in, as well as our services to see what we can do for you. Have a question regarding employment opportunities or to discuss a potential project, contact us today!
trends impacting construction industry 2020
trends impacting construction industry 2020
trends impacting construction industry 2020
trends impacting construction industry 2020
trends impacting construction industry 2020
trends impacting construction industry 2020