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
Green | Mar 9, 2020
BuroHappold commits to all new building projects achieving net-zero carbon by 2030
The engineering firm also launched a long-term partnership with ILFI.
Architects | Mar 2, 2020
Two ‘firsts’ for Sasaki and LEO A DALY
Following an industry trend, the firms hire chiefs of technology and sustainability, respectively.
AEC Tech | Feb 22, 2020
Investor interest in the built environment not quite as avid in 2019
Builtworlds’ annual list of venture deals led by workspace providers.
AEC Tech | Feb 13, 2020
Exclusive research: Download the final report for BD+C's Giants 300 Technology and Innovation Study
This survey of 130 of the nation's largest architecture, engineering, and construction firms tracks the state of AEC technology adoption and innovation initiatives at the AEC Giants.
AEC Tech | Feb 5, 2020
BIM London: A glimpse of BIM discussions across the pond
Digital twin, ISO standards, blockchain, and data were the hot topics at the recent The Digital World: BIM event.
AEC Tech | Jan 16, 2020
EC firms with a clear ‘digital roadmap’ should excel in 2020
Deloitte, in new report, lays out a risk mitigation strategy that relies on tech.
Green | Jan 10, 2020
How the new EC3 tool raises the bar on collective action
Nearly 50 AEC industry organizations partnered to develop the groundbreaking Embodied Carbon in Construction Calculator.
AEC Tech | Jan 8, 2020
Thornton Tomasetti launches open-source embodied carbon measurement tool
Beacon is a Revit plugin that generates a comprehensive data visualization of a project’s embodied carbon.
| Dec 18, 2019
Reconsidering construction robotics
After decades when experts predicted that robots would become more prevalent on construction sites, it would appear that the industry has finally reached that point where necessity, aspiration, and investment are colliding.
Big Data | Dec 4, 2019
AEC data's coming out party
AEC firms are finally putting to use project information they’ve been storing in their computers for years.
