Leveraging New Construction Technology Trends for Maximum Impact

As far as modern technology goes, a major challenge that many construction companies are facing today is to keep up with the range of new construction technologies and find and implement the best ones that fit all business needs.

Adopting a new construction technology isn’t everything – construction companies or firms should make sure that the technology works together with accuracy. That’s why it is very crucial to find the best technology to make the process easier and faster.

If you would like to take your construction business to another level, this comprehensive guide will help you. In this blog, we are going to discuss 2024’s top new construction technology trends and aspects that will influence construction industries within the next few decades. Let’s get started.

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What is Construction Technology?

The term construction technology refers to the set of different tools, machinery, and software applications that are used in various stages of a construction project. These tools and machines allow construction firms to boost efficiency and streamline business operations.

Components that constitute modern and emerging technologies in construction include autonomous heavy equipment, automated & semi-automated equipment, bid management systems, different mobile applications, robots, artificial intelligence, machine learning, AR/VR, and more. Moreover, the latest construction technologies and trends help businesses accelerate digital transformations & move one step forward to achieve business goals.

The implementation of innovative construction software and tools covers every level of construction, from project ideation and planning to on-site activities. According to the report, the worldwide construction market is expected to grow up to $8 trillion by 2030. Studies done by a custom software development company also show that more than 23% of construction companies report that they’re planning to improve workflow performance with advanced technologies like BIM, prefabrication, etc.

Importance of New Construction Technology

The entire ecosystem of construction technology is rapidly shifting toward integrated platforms that better serve your needs. Significant importance of building construction technologies include:

1. Increases productivity:

In a construction site, every project has different perspectives and purposes. This makes process standardization quite difficult and impacts productivity. The application of modern technologies like artificial intelligence, the internet of things, and machine learning, helps to streamline and automate several processes. Therefore, overall productivity is also increased.Additionally, ensuring that these systems are properly set up and functioning as intended is crucial; utilizing an HVAC commissioning checklist can aid in verifying system performance and efficiency.

2. Improves workplace safety:

In a construction site, workplace safety is one of the major concerns. The applications of advanced tools like sensors, VR & wearables have a massive impact on enhancing workplace and labor safety. It also helps to minimize the risk of serious workplace injuries. Moreover, these technologies also allow construction companies to effectively train their employees & then track their health status for ensuring a very safe working environment. By integrating modern EHS solutions such as WorkAware’s construction safety management software, companies can improve site visibility, reduce risk, and maintain compliance more efficiently.

3. Helps to control labor shortages:

The labor shortage is one of the constant problems that many construction companies face recently. Fortunately, construction technologies help to manage this issue in a unique way. Through the application of drone technology, autonomous equipment, and robotics, construction companies ensure how many employees they need to complete a critical task. These technologies also help them by offering the latest available candidate database, which they can use to employ new employees or workers when required.

4. Ensures excellent collaboration:

Collaboration in any construction project may face major challenges, as the construction site is usually very large & the projects mainly involve a number of decision-makers. The usage of construction technologies specifically designed for communication and collaboration encourages faster and better decision-making. Such applications and technologies also ensure that new data & information reaches the different stakeholders so that the construction project runs properly.

5: Safety and Risk Management

Despite all Technological :- Advancements, construction remains one of the most hazardous industries. Safety tech like wearable sensors, AI-powered surveillance, and real-time site monitoring can reduce risks dramatically. 

However, when safety protocols are overlooked or tech isn’t implemented properly, it can lead to fatal consequences. This has led to an increase in wrongful death claims in construction, emphasizing the need for companies to invest not only in productivity tools but also in life-saving technologies. With platforms like Tenna, construction companies can leverage GPS, telematics, and IoT-connected devices to track equipment, monitor site conditions, and enforce safety protocols—all from a centralized platform.

2024’s Top Construction Technology Trends

Cutting-edge technologies and innovations are drastically changing business operations and workflows in construction. Here are 5 emerging trends that are strongly influencing construction technologies.

1. BIM (Building Information Modelling):

BIM stands for Building Information Modelling, the latest digital technology process that involves developing a three-dimensional model of a construction project & its components such as design & maintenance. BIM enables architects, contractors, and engineers to coordinate & collaborate their efforts efficiently, which improves efficiency and reduces errors. Moreover, it improves sustainability and gives a new shape to resource management.

The latest version of this new construction technology 5D BIM is more powerful that offers project scope understanding, short project cycles & increased productivity.  2024’s top BIM software include Revit, Tekla, BIM Collab, Navisworks, Autodesk BIM 360, and Plannerly.

Key Benefits

2. Prefabrication:

Prefabrication refers to modular construction, which is the process of making building components, often using materials like high-strength steel, in locations other than the main site. This trend has become very popular as it increases quality control, eliminates construction time & minimizes waste. The prefabrication process is extensively used in several construction projects like offices, hospitals, schools, housing, etc. This process also eliminates the necessity for sourced construction materials that result in very low waste.

Key Benefits

3. Drone Technology

With 3D lidar scans and real-time aerial imagery, drones or UAVs are consistently revolutionizing several construction processes. As a powerful tool, industrial drones offer a vast range of applications such as structure inspection, site mapping, land surveying, project monitoring, etc. Drones make the surveying process more accurate and easier. Moreover, industrial drones are fitted with a number of sensors and features that can collect precise data on different environmental factors such as humidity, temperature, air quality, and more.

Key Benefits

4. 3D Printing

3D Printing offers an alternative method of construction that is more cost-effective, efficient, and sustainable. This technology helps to create large-scale objects with the help of layer-by-layer approaches. It gives the right solution for making complex geometric shapes and architectural designs.

In construction industries, 3D printing is extensively used to fabricate nodes for lightweight structures. It helps to streamline the construction process, reduce waste and save money on storage and transportation.

Key Benefits

5. Internet of Things (IoT)

Currently, the construction industries are undergoing essential adjustments that will enhance efficiency, the introduction of tools, and process improvement. In civil engineering, IoT or the Internet of Things considers the incorporation of lower control sensors that seamlessly transmit data at the lowest cost. According to the report, the market size of IoT in construction is predicted to reach approx 26.5 billion USD by 2027 worldwide.

Today’s construction companies consider IoT technology due to several reasons such as low profitability, increased challenge, schedule overruns, and reduced margins. The IoT technology collects data and information from different linked devices by using algorithms and sensors. This data and info help professionals and experts address safety concerns & make sure that the construction process is properly executed according to the project schedule. 

Key Benefits

6. AR/VR Technologies

In the world of construction, AR/VR technology has emerged as a revolutionary force that is extensively used for design visualization, on-site training, virtual walkthroughs, and so on. 

As modern buildings & construction sites are becoming complex, augmented reality and virtual reality facilitate error detection and design management. They also improve collaboration and streamline decision-making that leads to desired project outcomes. Apart from that, augmented reality also presents BIM data that can streamline coordination between construction designers, workers, and consultants.

Key Benefits

7. 4D Simulation

4D simulation helps to add an element to the spatial representation that allows stakeholders to properly visualize the whole process of construction over time. It can make a dynamic simulation to illustrate the whole construction progression and sequence. It works as an important tool in construction that offers a unique view of construction project management and helps in making strategic decisions during the project lifecycle. Apart from that, 4D simulation also improves collaboration, minimizes risks, and leads to successful construction project executions.

Key Benefits

8. Digital Twins

Digital twins refer to virtual creations of infrastructure, buildings, or construction sites. Unlike BIM diagrams that show many systems, digital twins only show a particular space. Digital twins are developed by several data sources and technologies such as the Internet of Things, Building Information Modeling, sensors, etc. The application of digital twins effectively improves efficiency, sustainability, and collaboration throughout the project lifecycle.

Key Benefits

9. Blockchain

Blockchain technology helps streamline the overall project management process in construction. It helps to enhance communication between vendors, builders, and laborers and allows them to address challenges. This leads to improved operational efficiency in the construction process. Moreover, blockchain technology also enhances the speed of payment and financial transaction operations.

Key Benefits

10. 3D Laser Scanning

3D laser scanning is a robust technology that allows technology firms to significantly save time & expenses on several projects. It helps to capture precise and detailed measurements. With detailed and accurate measurements, 3D laser scanning helps to quickly address challenges and ensure the entire project will be completed on time. In the construction industry, laser scanning is massively used for on-site surveying, project inspection, mapping, safety management, and other relevant tasks.

Key Benefits

Types of Construction Technologies

New construction technology industry mainly refers to software and hardware technology solutions that every construction company implements to boost their business processes, save money & time,  increase productivity, etc.

Hardware solutions help to manage machinery, tools & other equipment. On the other hand, software solutions usually include sales systems, project management systems, CAD systems, and much more. Both solutions are used for specific needs and to streamline the project workflow.

Construction Technology Solutions Can Also be Split Into Two Major Types:

1. New construction technology for business
2. Construction technology for execution

New Construction Technology for Business

Construction tech tools and software for business help to enhance sales, bidding processes, estimation, marketing efforts, resource planning, accounting, and other tasks. Some of the popular construction technology examples include:

1. Estimating Software

In any construction project, estimation plays a very significant role. It mainly contains detailed cost estimation, scheduling, construction planning, etc. Estimating software solutions help to expedite these processes. These software solutions specifically focus on line-by-line cost development & quantity estimations for labor and materials. Some tools include formulas & calculations, cost summary templates & material cost databases. Top estimating software for construction projects includes:

Stack: All-in-one estimating software solution that works anytime and anywhere.

PlanSwift: PlanSwift is a powerful estimating software designed for industrial, institutional, residential, and commercial subcontractors and GCs and in every construction trade.

Trimble Accubid: This is a classic, flexible, and fully featured estimating tool that offers accurate estimations.

Proest: It combines bid day analysis, cost estimation, and digital takeoffs in a single solution that assures accurate estimations.

Clear Estimates: Clear Estimates offers an easy-to-use solution that enables you to smoothly determine the project cost. It has 160+ project templates to create estimates within a minute.

Sage Estimating: This software solution helps to make accurate estimates, boost the bid-to-win ratio, and provide a cost database, project scheduling, electronic takeoff, job costing & so on.

Sigma Estimates: This is an easy-to-use & advanced estimating software that is a great choice for contractors, construction engineers, and architects in building industries.

Stratosphere: This is a completely cloud-based estimation tool that allows construction professionals and estimators to measure digital blueprints.

2. Construction Sales Management Software or Sales CRM

From managing relationships with clients to turning opportunities into deals, customer relationship management is one of the major keys to business success. There are several sales management software & tools used for construction sectors. They are used to automate follow-up processes and proposals. Moreover, they also help to store important client information & contacts. Some key examples of high-end construction CRM tools include:

iDeal CRM: This is a popular project management software (PMS) designed for residential and commercial construction sectors of all sizes

Pipedrive: This is a very unique CRM tool used for managing & tracking deals, leads, and contacts. It also allows businesses to plan several sales activities.

Unanet: This is a single-source cloud-based CRM that combines Project Portfolio Management & Professional Services Automation that allows businesses to plan, manage and track projects.

3. Marketing CRM Software

Marketing CRM & sales management software solutions are confused. However, there are significant differences between them. Tools like marketing CRMs provide leads through email campaigns, website visitors, and social media. Top examples of marketing CRM tools include:

HubSpot: This is an easy-to-use CRM tool for customer support & marketing that comes with smart features like meeting scheduling, live chat, email tracking, etc.

Mailchimp: This is an email marketing tool with automation capabilities that helps you manage your customers, clients & other interested parties. A Mailchimp features comparison can help determine whether it’s the right fit compared to other marketing CRM options

Constant Contact: This is a marketing tool that helps businesses build branded emails, online stores, websites, and more in one platform.

OnePageCRM: This is a contact management tool with follow-up automation to manage the company’s relationships & interactions within a business.

4. Bidding Platforms

The bidding process in construction is complex. Top construction firms get projects from several bidding sites. Therefore, finding the best online platform for a construction project is highly important. Take a look at the top construction bidding platforms:

PlanHub: This is a top-notch construction bidding software used to post projects, expand networks, and win bids.

iSqFt: This tool allows contractors to manage the bid process, monitor project information, and quickly share information.

BuildCentral: It builds & markets construction databases & analytics to help suppliers, manufacturers, and builders.

Construction Bid Source: This is another popular tool that helps contractors explore local projects to bid by county and state.

Building Connected: This is the largest construction network that effectively connects builders and owners through an innovative platform for streamlining risk management processes.

5. Accounting Software

Accounting software offers several firms financial management tools to construction companies to effectively manage business finances in construction. This may include payroll, job costing, accounts receivable, accounts payable, cash management, audit reporting, general ledger, financial reporting, etc. Key benefits of using construction accounting software include:

Here are the top three examples of construction accounting software: 

CMiC: This tool offers unified and complete project management and financial software solutions for several construction firms.

Sage 300 CRE: This is a popular ERP system that helps real estate and construction industries with certified payroll, compliance paperwork, and generating accurate construction WIP reports to monitor project progress and financial health.

Foundation: It comes with cloud-based deployment and on-premise options that help construction firms of all sizes. It contains several modules like scheduling tools, executive dashboards, project oversight, etc.

6. Resource Planning

Resource management in construction is a process of allocating, planning & managing resources including finances, materials, and equipment to seamlessly and successfully finish construction projects.

It also helps to implement every critical task with high accuracy & meet all project objectives within a specific time frame. It also helps managers successfully deliver projects by achieving project resource demands. In addition, the resource management process also boosts productive utilization. With the resource planning approach, construction companies avoid mistakes like project delays. Some crucial benefits of using resource management software include

Here are some key examples of resource management software include: 

Smartsheet: This tool empowers better accountability, collaboration, real-time visibility, and innovation to make faster decisions.

Wrike: This is a powerful project management tool that offers 360° visibility to the team and helps to control critical projects and tasks.

VIZZN: This tool mainly focuses on dispatching, estimating, job-site logistics, scheduling & construction management.

Construction Technology for Execution

Technology solutions for execution mainly support every stage of construction processes such as project management, design, execution, and documentation. Key examples of new construction technologies for execution include:

1. Construction Management Technology

To make a construction project profitable, it should be on the budget, on the scope, and on time. Whether it’s through an Excel sheet or dedicated software, construction management technology makes the process easier and streamlined. Some of the best examples of management technology software in construction include:

Plangrid: This is a construction productivity tool that helps owners, subcontractors, and general contractors benefit from access to plans, photos, forms, issues & more.

Procore: This is an all-in-one management software designed and developed for connecting stakeholders throughout the entire construction lifecycle.

Buildertrend: This is a management software for specialty contractors, home remodelers & home builders. It helps to collaborate with stakeholders by making purchase orders & progress invoices.

AutoDesk Construction Cloud: It helps to connect workflows & data of construction for minimizing risks, improving efficiency, and increasing more predictability & profits.

ViewPoint: This is a construction software that effectively supports project management, construction accounting & field teams.

2. Design & Modeling Technology in Construction

Design & modeling construction technology tools help to make three-dimensional models to properly communicate & visualize critical site conditions, building systems, and structural connections. Design software in construction may include architectural CAD, 3D tools, and drawing tools for construction plans.

3D modeling tools and software are important for architecture sectors. They are also used by interior designers, architects, and engineers to accurately visualize their projects. Top examples of design & modeling construction technology software include:

AutoCAD: This is a very popular design & drafting software application designed to make 2D & 3D drawings and diagrams accurately.

ArchiCAD: ArchiCAD is a powerful architectural BIM CAD visualization software used to manage all major aspects of aesthetics & engineering during the design process.

Sketchup: This is an excellent design software that helps to create three-dimensional modeling. This is an easy-to-use tool that comes with simple interfaces and plenty of functionalities.

Vectorworks: This is a fully-integrated 3D design software that offers a collaborative and flexible design process to engineers, architects, and landscaping professionals.

Allplan: This is an interdisciplinary 3D BIM software that integrates & supports construction processes throughout several project phases. Allplan is ideal for structural engineers & architects.

SkyCiv Structural 3D: This is a three-dimensional frame analysis software that helps to analyze & design a number of steel, concrete, timber & general structures.

Rhino 3D: Rhino 3D also known as Rhinoceros 3D is a popular design software specially used in industrial design, architectural trades, and jewelry design.

IntelliCAD: This is a professional-grade CAD software mainly used to evaluate CAD drawings.

ActCAD: This is a native DXF and DWG CAD software used to make as well as edit drawings. It’s ideal for structural engineers, consultants, and civil engineers.

ArcSite: This is a robust and easy-to-use CAD software that is used to make precise drawings within a minute from anywhere.

Houzz Pro: This software helps design experts and contractors with accurate project management & marketing solutions in a single platform. It contains individual insights and lead management with dashboards.

3. Construction Document Management Technology

Document management in construction is a process that is mainly concerned with organizing the flow of essential documents. This system applies to both digital and physical documents, though many companies are moving toward digital documentation to manage a variety of processes for construction projects. Document management systems usually offer the following benefits to the stakeholders:

Key examples of construction document management tools include:

Dropbox: Dropbox Business helps to manage construction projects effectively. It allows users to access & organize plans in real-time.

Document 360: This is a knowledge management platform that helps users across different industries to build and collaborate on self-service knowledge for the products.

Procore: This is an all-in-one construction management platform that allows you to upload documents and finish projects on time & within budget.

4. Progress Tracking Technology

Progress tracking in construction mainly involves a number of tracking aspects that affect labor, tasks, materials, change orders, time and cost, equipment, RFIs, submittals & more. In addition, progress tracking helps to focus efforts,  ensure all resources are utilized efficiently, and maximize the chances of achieving the core objectives of the company. Key benefits of using construction progress tracking include:

Some popular examples of construction progress-tracking technology include

Knowify: This is a project management software designed for trade contractors. It helps businesses to keep their construction project & organized properly monitored and managed.

ConstructionOnline: This is a fully web-based platform that allows construction businesses to streamline projects, track updates, schedule & client communications.

Priority Matrix: This is a popular project management software that enables businesses to track all project activities, manage critical tasks & coordinate with other members in real time.

5. Fleet Management and Construction Equipment Technology

Fleet and equipment management technology in construction is crucial for larger organizations with highly expensive assets. This technology helps businesses track all field assets, and get notifications on maintenance. Major benefits of construction equipment & fleet technologies include:

Progress tracking in construction mainly involves a number of tracking aspects that affect

How to Invest in Construction Software Development?

The process of Investing in custom software development for construction involves a number of steps and activities. Here is a quick guide to investing in construction software development:

1. Market Research: Conduct deep market research and analysis to find the market demands and trends in construction sectors. Study your competitors and evaluate the market needs for your software.

2. Identify Your Niche: Focus on a particular niche in the construction field, such as Building Information Modeling, scheduling, project management, cost estimation, safety management, etc. Specialization helps to make your software application more appealing and feature-rich.

3. Know Industry Trends: Study the market and stay updated with the latest construction technology. This mainly includes new industrial innovations like IoT, and AI that are being integrated into the construction industry.

4. Collaborations & Partnerships: Explore collaborations and partnerships with industry experts, technology firms, and contractors. Their insights can be helpful in reshaping your software development solution & ensuring its relevance in the construction field.

5. Regulatory Compliance: Focus on regulatory compliance and other legal aspects of construction. Compliance with industry regulations is essential for the success of your construction software.

6. Set Up a Business Plan: Set up a proper business plan that outlines your software features, revenue model, target audience, projected financials, marketing strategy, projected financials, and so on. This plan is crucial to attract investors & guide your software development efforts.

7. Build Prototype & Conduct Testing: Build a quick prototype of your software to demonstrate the core features. Conduct proper testing methods to address major issues before publishing the final product.

How Much Does it Cost to Develop a Construction Software System?

The average cost of developing a sophisticated software system for construction ranges from $50,000 to $2,50,000. Technically, this cost varies depending on the complexity of software features and functionalities. Apart from features and functionalities, many elements highly influence the total cost of construction software development such as:

1. Design Requirements: Costs: ~10% of The Total Cost

A detailed understanding of the custom construction software design requirements is crucial for accurate development cost estimation. Essential design requirements such as user interface, adaptability & responsiveness, user experience complexity, and other functionalities play a big role in determining the total cost of construction software.

2. Tech Stacks: Costs: ~20 to 30% of The Total Cost

The tech stacks refer to essential programming languages, frameworks, and tools used for building the software application. Understanding the fundamentals of the technology stack will help to determine the overall cost of construction software application development.

3. Collaboration Models: Costs: ~ 15 to 20% of The Total Cost

The collaboration model is one of the important factors that strongly determine software development costs. For any software application-related projects, three options are mostly available:

4. Support and Maintenance: Costs: ~10 to 15% of The Total Cost

Once the software application is published, ongoing maintenance and support services are required to improve software performance and gather user feedback. Maintenance costs include bug fixing, software optimization, managing the changing requirements, addressing software security gaps, and so on. 

Here is a table that shows average construction software costs based on different software elements and features:

Final Words

New technologies and trends in construction industry are consistently fueling growth in all sectors. Technologies help construction companies reduce long-standing inefficacies & boost productivity. However, despite all these implications, there are still some challenges in executing digital norms in the construction sector. Want to know more about construction technologies? Talk to our experts. We will also help you incorporate comprehensive tech solutions to stay on top of the competition and take your business to another height of success.

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