Future of Construction, Global, 2030

Future of Construction, Global, 2030

Revolutionary Trends Impacting the State of Construction Industry

RELEASE DATE
04-Oct-2019
REGION
Global
Research Code: K3EE-01-00-00-00
SKU: CI00644-GL-MT_23568
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Description

The construction industry plays a major role in driving economic growth in major developed and developing countries and has a direct impact on world GDP. This makes it important to focus on some of the major shortfalls in the industry, such as its traditional ways of carrying out business and the shortage of skilled labor which has slowed down growth in this industry.

The construction industry is starting to evolve. Changing technological environment and evolving business models will bring about a major disruption in the construction industry.

Frost & Sullivan’s 'Future of Construction, Global, 2030' focuses on identifying the top trends that will shape the future of the construction industry. The study maps 6 trends and 20 subtrends that will directly /indirectly impact the global construction forum while mapping a 5-10-year trend horizon which includes the market status, predominant opportunities, and key milestones.

Technology is a primary disruptor—from IOT devices to innovative sensor technologies—for data collection. Novel business advances will be driven by data monetization and digital marketplaces. We will also see a shift toward new data-driven business models that will be focusing on sustainability. Gen Z will disrupt the workforce by their innovative entrepreneur mindset.

Digitization: Digitization will be driven by technologies, such as AI, 5D BIM, AR/VR, and electrification powered by 5G speed connectivity.

Autonomy: The construction industry will see a shift toward automation, with safety being one of the major challenges for the construction industry. Drones will play a major role in reducing the human presence on site and increasing the accuracy of data collection.

Sustainability: Sustainability will go beyond compliance to regulations and will become a people’s movement as greater awareness of limited resources is realized. Standard, prefabricated, modular concepts will enhance compatibility among building and infrastructure projects, improve economies of scale, enhance productivity, and accelerate the industrialization of the construction industry.

New Business Models: The construction industry is undergoing a significant criterion shift and is focusing on creating new business models which are technology and data driven; they also foster better collaboration between stakeholders and increase productivity which has been a pain point in the history of the construction industry.

Social Trends: With aging workforce and digitization, the construction industry will be forced to adapt better workforce management strategies to accommodate urbanization and Gen Z.

Economic Trends: Unstable economic trends will make it difficult to overcome age-old productivity challenges in the sector, leading to the adoption of unique solutions that will attract more investments.

RESEARCH: INFOGRAPHIC

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Table of Contents

Executive Summary—Key Findings of the Study

Introduction

Global Construction Industry Outlook 2018–2030

Global Construction Industry—Regional Overview

Regional Outlook—Asia-Pacific

Regional Outlook—Americas

Regional Outlook—European Union

Trend Overview—Investment Gap

Trend Overview—Investment Gap (continued)

Outlook for the Residential Construction Industry

Outlook for the Nonresidential Construction Industry

Outlook for the Infrastructure Construction Industry

Outlook for the Top Global Construction Companies

Role of China, India, and the US in Infrastructure Investments

The Big Bet on Mega Projects

Mega Projects—Blue Ocean Thinking

Trend Outlook

Future Outlook of the Construction Industry

Digitization

Digitization—Trend Overview

Digitization—Trend Overview (continued)

Digitization—Roadmap to 5G

Digitization—Evolution of BIM

Digitization—5D BIM End-to-end Value Chain Integration

Digitization—5D BIM for Lifecycle Management

Digitization—AR/VR Technology

Digitization—Artificial Intelligence

Digitization—Electrification

Autonomy

Automation—Trend Overview

Automation—Semi Autonomous Construction

Automation—Telematics

Automation—Drone Technology

Automation—Construction Robots

Sustainability

Sustainability—Trend Overview

Sustainability—Prefabrication and Rise of Modular Buildings

Sustainability—Sustainable Materials

Sustainability—Sustainable Materials (continued)

Sustainability—Circular buildings for a Sustainable Business

New Business Models

New Business Models—Trend Overview

New Business Models—Data Monetization in Construction

New Business Models—Blockchain-based Model

New Business Models—Smart Infrastructure

Social Trends

Social Trends—Trend Overview

Social Trends—Smart Hiring

Social Trends—Gen Z in Construction

Social Trends—Urbanization

Economic Trends

Economic Trends—Overview

Economic Impact—Brexit

Economic Trends—The US-China Trade War

Digitization—Trend Lever

Automation—Trend Lever

Sustainability—Trend Lever

New Business Models—Trend Levers

Social Trends

Economic Trends

5-10-Year Trend Opportunity Horizon

Construction Vision—2050

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Related Research
The construction industry plays a major role in driving economic growth in major developed and developing countries and has a direct impact on world GDP. This makes it important to focus on some of the major shortfalls in the industry, such as its traditional ways of carrying out business and the shortage of skilled labor which has slowed down growth in this industry. The construction industry is starting to evolve. Changing technological environment and evolving business models will bring about a major disruption in the construction industry. Frost & Sullivan’s 'Future of Construction, Global, 2030' focuses on identifying the top trends that will shape the future of the construction industry. The study maps 6 trends and 20 subtrends that will directly /indirectly impact the global construction forum while mapping a 5-10-year trend horizon which includes the market status, predominant opportunities, and key milestones. Technology is a primary disruptor—from IOT devices to innovative sensor technologies—for data collection. Novel business advances will be driven by data monetization and digital marketplaces. We will also see a shift toward new data-driven business models that will be focusing on sustainability. Gen Z will disrupt the workforce by their innovative entrepreneur mindset. Digitization: Digitization will be driven by technologies, such as AI, 5D BIM, AR/VR, and electrification powered by 5G speed connectivity. Autonomy: The construction industry will see a shift toward automation, with safety being one of the major challenges for the construction industry. Drones will play a major role in reducing the human presence on site and increasing the accuracy of data collection. Sustainability: Sustainability will go beyond compliance to regulations and will become a people’s movement as greater awareness of limited resources is realized. Standard, prefabricated, modular concepts will enhance compatibility among building and infrastructure projects, improve economies of scale, enhance productivity, and accelerate the industrialization of the construction industry. New Business Models: The construction industry is undergoing a significant criterion shift and is focusing on creating new business models which are technology and data driven; they also foster better collaboration between stakeholders and increase productivity which has been a pain point in the history of the construction industry. Social Trends: With aging workforce and digitization, the construction industry will be forced to adapt better workforce management strategies to accommodate urbanization and Gen Z. Economic Trends: Unstable economic trends will make it difficult to overcome age-old productivity challenges in the sector, leading to the adoption of unique solutions that will attract more investments.
More Information
No Index No
Podcast No
Author Chaitanya Habib
Industries Cross Industries
WIP Number K3EE-01-00-00-00
Is Prebook No
GPS Codes 9A3B