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
Adaptive Reuse | Apr 15, 2021
The Weekly Show, Apr 15, 2021: The ins and outs of adaptive reuse, and sensors for real-time construction monitoring
This week on The Weekly show, BD+C editors speak with AEC industry leaders from PBDW Architects and Wohlsen Construction about what makes adaptive reuse projects successful, and sensors for real-time monitoring of concrete construction.
AEC Tech | Apr 8, 2021
The Weekly Show, April 8, 2021: SPOT the autonomous robot, and Woods Bagot's in-house 'futurist'
This week on The Weekly show, BD+C editors speak with AEC industry leaders from Procon Consulting, Virginia Tech, and Woods Bagot about SPOT, the autonomous robot for construction progress monitoring applications, and how Woods Bagot's new "futurist" is promoting innovation at the international design firm.
Coronavirus | Mar 11, 2021
The Weekly show, March 11, 2021: 5 building products for COVID-related conditions, and AI for MEP design
This week on The Weekly show, BD+C editors speak with AEC industry leaders about building products and systems that support COVID-related conditions, and an AI tool that automates the design of MEP systems.
AEC Tech | Mar 4, 2021
The Weekly show, March 4, 2021: Bringing AI to the masses, and Central Station Memphis hotel
This week on The Weekly show, BD+C editors speak with AEC industry leaders about the award-winning Central Station Memphis hotel reconstruction project, and how Autodesk aims to bring generative design and AI tools to the AEC masses.
AEC Tech | Jan 28, 2021
The Weekly show, Jan 28, 2021: Generative design tools for feasibility studies, and landscape design trends in the built environment
This week on The Weekly show, BD+C editors speak with AEC industry leaders from Studio-MLA and TestFit about landscape design trends in the built environment, and how AEC teams and real estate developers can improve real estate feasibility studies with real-time generative design.
AEC Tech | Dec 21, 2020
GIS benefits are widely accepted, but measurements of importance vary among AEC firms
Future usage might boil down to competitive pressure, according to a Dodge Data & Analytics survey.
AEC Tech | Dec 17, 2020
The Weekly show: The future of eSports facilities, meet the National Institute for AI in Construction
The December 17 episode of BD+C's The Weekly is available for viewing on demand.
AEC Tech | Dec 15, 2020
DLR Group launches intelligent air quality analytics platform
sonrai IAQ™ by DLR Group delivers actionable intelligence to optimize facility operations and enhance occupant comfort.
AEC Tech | Dec 8, 2020
COVID-19 affects the industry’s adoption of ConTech in different ways
A new JLL report assesses which tech options got a pandemic “boost.”
Contractors | Dec 4, 2020
‘Speed to market’ defines general contractor activities in 2020
Contractors are more receptive than ever to ways that help get projects done faster.
