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.
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Accelerate Live! | Jul 6, 2017
Watch all 20 Accelerate Live! talks on demand
BD+C’s inaugural AEC innovation conference, Accelerate Live! (May 11, Chicago), featured talks on machine learning, AI, gaming in construction, maker culture, and health-generating buildings.
| Jun 13, 2017
Accelerate Live! talk: Is the road to the future the path of least resistance? Sasha Reed, Bluebeam (sponsored)
Bluebeam’s Sasha Reed discusses why AEC leaders should give their teams permission to responsibly break things and create ecosystems of people, process, and technology.
| Jun 13, 2017
Accelerate Live! talk: 3D laser scanning for the project lifecycle, FARO Technologies (sponsored)
Brent Slawnikowski of FARO Technologies and Jennifer Suerth of Pepper Construction discuss how implementation of laser scanning has helped Pepper become more successful in the completion of their projects.
| Jun 13, 2017
Accelerate Live! talk: Incubating innovation through R&D and product development, Jonatan Schumacher, Thornton Tomasetti
Thornton Tomasetti’s Jonatan Schumacher presents the firm’s business model for developing, incubating, and delivering cutting-edge tools and solutions for the firm, and the greater AEC market.
| Jun 13, 2017
Accelerate Live! talk: The future of computational design, Ben Juckes, Yazdani Studio of CannonDesign
Yazdani’s Ben Juckes discusses the firm’s tech-centric culture, where scripting has become an every-project occurrence and each designer regularly works with computational tools as part of their basic toolset.
| Jun 13, 2017
Accelerate Live! talk: A case for Big Data in construction, Graham Cranston, Simpson Gumpertz & Heger
Graham Cranston shares SGH’s efforts to take hold of its project data using mathematical optimization techniques and information-rich interactive visual graphics.
| Jun 13, 2017
Accelerate Live! talk: Scaling change in a changing industry, Chris Mayer, Suffolk Construction
Suffolk’s CIO Chris Mayer talks about the firm’s framework for vetting and implementing new technologies and processes.
