Construction and Engineering Industry Trends to Watch
The engineering and construction industry has undergone a significant transformation in recent years, driven by technological advancements, changing customer expectations, and a shifting workforce. There are many trends that are shaping the industry, but these five construction and engineering industry trends to watch are some of the most important to keep an eye on.
Reconsideration of Workforce Strategies
Talent pressures and shifting talent models have forced the industry to rethink workforce strategies. One of the most significant challenges facing the engineering and construction industry is the shortage of skilled workers. As baby boomers retire, there is a growing talent gap that must be filled. To address this challenge, companies are rethinking their workforce strategies. This includes hiring and training more diverse candidates, leveraging gig economy workers, and investing in technology to augment human labor.
Investment in Emerging Technology for Greater Efficiency
Developers and contractors across the board are showing a greater commitment and further investment in emerging technologies to drive efficiency on the job site.
The engineering and construction industry is no stranger to technology. From Building Information Modeling (BIM) to drones and virtual reality, developers and contractors are using a wide range of technologies to drive efficiencies and reduce costs. As technology continues to advance, we can expect to see further investment in areas such as artificial intelligence, Internet of Things (IoT), and robotics.
Significant Growth in Virtual Construction
Along the same lines, we’re also seeing rapid growth in the use of virtual technology in the construction space. Virtual construction involves the use of technology to create virtual models of buildings and structures before construction begins. This allows developers and contractors to identify potential problems early on and make adjustments before construction begins. As the technology continues to advance, we can expect to see rapid growth in the virtual construction market.
3D Printing Use Increases
3D printing is another technology that is transforming the engineering and construction industry. This specific market is growing at a substanial rate. Reports show a CAGR of 100.7% through 2030.This technology allows developers and contractors to create complex designs quickly and efficiently, reducing the time and cost associated with traditional construction methods. 3D printing is also more sustainable, as it reduces waste and requires fewer materials.
Enhanced Productivity Due to Robotics and Automation
From autonomous construction vehicles to brick-laying robots, these technologies are reducing the need for human labor and increasing efficiency. In fact, about half of all construction companies are already using robots in their work and 81% report they plan to implement them over the next decade. As these technologies continue to evolve, we can expect to see further adoption in the construction and engineering industry.
Staying on Top of Construction and Engineering Industry Trends
By keeping an eye on these five trends, companies can stay ahead of the curve and ensure long-term success. At ARC, we are committed to doing just that. We are constantly learning and discovering ways we can implement new and emerging technologies in order to increase safety, efficiency, and our client’s bottom line.
If you’re looking for a mechanical engineering partner that can help you meet the demands of a rapidly changing industry, we’re ready to help.