Investors are pumping in billions of dollars into the construction technology sector, according to a Wall Street Journal report and Construction Dive.
According to the report, research company CREtech found that venture capital investment in private construction technology firms increased from $352 million in 2016 to more than $6 billion in 2018. At the end of June, 2019 investments totaled more than $4 billion, signaling that capital investments into the sector this year could exceed those made in 2018.
Startups are poised to bring to market new technologies and techniques to raise construction efficiency. The products could help tame rising construction costs and address a persistent shortage of qualified trade workers.
Investors that make the right bets could reap big payoffs in an industry that experts say is ready for automation.
Related Stories
Movers+Shapers | Apr 19, 2019
AEC angel investor
Jesse Devitte is among the prescient venture capitalists who’ve bet on the AEC industry finally coming around to design and construction technology.
AEC Tech | Apr 17, 2019
4 fundamental relationships between buildings and machines
If and when AI drives the entire process of design, construction, and operation, buildings could become exponentially smarter with resources, money, time, and performance.
AEC Tech | Apr 12, 2019
NBBJ creates Design Performance Group whose goal is to connect building design with occupant wellbeing
The firm also wants to advance energy efficiency in its projects.
AEC Tech | Apr 10, 2019
Speaker Update! Accelerate AEC Innovation Conference, May 13-14, NYC
BD+C's third-annual Accelerate AEC Innovation Conference (May 13-14, NYC) will explore AI in architecture, offsite construction, smart buildings, AEC business innovations, big data in construction, and much more.
AEC Tech | Mar 26, 2019
Embracing collaboration tools from outside the AEC industry
Let's take a look at the available technologies from outside AEC that are seeing greater adoption within the industry.
AEC Tech | Mar 24, 2019
5 ways designers and builders can use business intelligence with data they already have
Tricky construction budgets, large project teams, and unique designs needing extensive coordination are all problems increasingly being handled with new software tools and data.
AEC Tech | Feb 8, 2019
BI(m): BIM data without models
A new breed of data tools creates a valuable opportunity for the next wave of BIM and facilities management, one where “pure data” is at the center, writes John Tobin of SMRT Architects.
AEC Tech | Jan 9, 2019
Our robotic future: Assessing AI's impact on the AEC profession and the built environment
This is the first in a series by Lance Hosey, FAIA, on how automation is disrupting design and construction.
3D Printing | Dec 7, 2018
Additive manufacturing heads to the jobsite
Prototype mobile 3D printing shop aims to identify additive manufacturing applications for construction jobsites.
AEC Tech | Sep 27, 2018
BD+C editors want your input on AEC technology
Please help us improve our editorial coverage by taking this brief survey.