For Paul WallettThis year is a pivotal year in the history of the construction industry in India and the world as a whole. Rapid social and economic changes have greatly increased India’s population and size of its cities, creating huge demand for construction industries. India’s construction sector is undergoing change, and necessity is the mother of innovation. While Prime Minister Modi has declared 2019-2020 the Year of Construction Technology, there is much to do – expected and necessary adoption of technology in construction by the Indian government.
We are witnessing the introduction of IoT – connected equipment, materials and machinery, technologies that will create a new job market for construction and real estate professionals in 2021.
We are witnessing the introduction of IoT – connected equipment, materials and machinery, technologies that will create a new job market for construction and real estate professionals in 2021. If the construction industry can take these steps, it will no longer be seen as a last resort for millennials.
The construction industry has enormous potential and abundant potential, but companies should focus on implementing the right policies to improve productivity and efficiency. Companies must be prepared to implement strategies to increase productivity, efficiency, and productivity in the construction and real estate industries.
Before we delve into the top trends in construction technology in India in 2021, we take a look at some of the top trends we can expect from the building technology influencers. What follows is a list of trends that the construction and real estate industry must keep in mind in 2020. Here we have gathered the most important trends, trends and top influencers for construction technology companies in the industry for 2020 and beyond.
Overall, these five trends are likely to push the Indian construction industry into a networked, collaborative, and data-driven construction industry in the future. All in all, we look forward to a promising future for construction technology in India in 2021 and beyond. India is on the verge of growth, and it is happening at a rapid pace, things are happening, India’s growth has been quite stable in recent years, when growth has been declining. With the right combination of technology, innovation, and a strong business model, the construction industry as a whole can lead the way in revitalizing India’s flagging and global economy.
In terms of the size of the global construction market, it is expected to decline from $11.2 billion in 2019 to $10.56 billion in 2020. The European construction industry, apart from the relative strength discussed for this market, is unlikely to drive growth from a global perspective.
But the construction industry is entering a new era of technological innovation and upheaval throughout the life cycle of projects. Construction practitioners have embraced a traditional approach to construction that presents new technologies with further challenges.
It is expected that in the next few years, more and more new technologies will be used in the construction industry, as companies recognise the importance of long-term competence in construction technology and its applications. It is also expected that it is a key factor for companies to realize the potential of the new technology in their business models and operations.
Another technology trend to watch out for in 2020 is the role of 3D printing in the construction industry, according to a recent report by the World Economic Forum (WEF).
Although the technology itself is not new, its application in civil construction is gaining popularity. One new technology that is attracting interest in the construction industry is the use of drones. An increasing focus on technological automation could create space for chemicals that are not traditionally used in the construction industry. This should be a great opportunity for companies to realise the potential of 3D printing and the use of drone technology.
The use of drones in the construction industry has grown by 239% year-on-year worldwide, more than any other commercial sector. In terms of value, the housing industry grew by 11.1% between 2015 and 2019. India’s construction industry recorded an annual growth rate of 7.5% from 2015 to 2019, the highest of any sector in India.
The logistics sector in India is growing at 10.5% per year and is expected to reach 215 billion US dollars by 2020. The construction industry contributed 8% to total GDP in 2015 and employed nearly 57.5 million people. Oxford predicts that, even after a sharp slowdown this year, global construction will rise by nearly 35% from 2019 to 2019, to $5.8 trillion over the next decade, with two-thirds of that growth coming from new roads, bridges, railways, airports, and other infrastructure. Moreover, India’s oil consumption growth rate is expected to surpass that of the People’s Republic of China by the mid-2020s, making India the world’s second-largest oil exporter after the United States and the third-largest in terms of oil production.