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
Big Data | May 5, 2016
Demand for data integration technologies for buildings is expected to soar over the next decade
A Navigant Research report takes a deeper dive to examine where demand will be strongest by region and building type.
BIM and Information Technology | May 2, 2016
How HDR used computational design tools to create Omaha's UNO Baxter Arena
Three years after writing a white paper about designing an arena for the University of Nebraska Omaha, HDR's Matt Goldsberry says it's time to cherry-pick the best problem-solving workflows.
Virtual Reality | Apr 29, 2016
NBBJ to develop virtual reality productivity platform
The Seattle design firm has partnered with Visual Vocal, a startup VR company.
Drones | Apr 25, 2016
The Tremco SkyBEAM UAV is the first to be approved by the FAA for nighttime commercial operation
The SkyBEAM UAV is used for identifying energy leaks, rooftop damage, deteriorating façades, and safety issues without requiring scaffolding or cranes.
AEC Tech | Apr 15, 2016
Should architects learn to code?
Even if learning to code does not personally interest you, the growing demand for having these capabilities in an architectural business cannot be overlooked, writes computational design expert Nathan Miller.
Building Tech | Apr 12, 2016
Should we be worried about a tech slowdown?
Is the U.S. in an innovative funk, or is this just the calm before the storm?
AEC Tech | Apr 12, 2016
Startup introduces PaperLight, an interactive projection screen for AEC pros
The device lets users edit sketches, plans, and images with a stylus or their fingers.
AEC Tech | Mar 31, 2016
Deep Learning + AI: How machines are becoming master problem solvers
Besides revolutionary changes to the world’s workforce, artificial intelligence could have a profound impact on the built environment and the AEC industry.
AEC Tech | Mar 17, 2016
Managing risks with laser scanning gives AEC firms an edge
The more that clients demand the service, the easier it is to justify the cost of laser scanning equipment and software.
AEC Tech | Mar 15, 2016
Two to tango: Project Tango isn’t just for entertainment, it also has a wide range of possibilities relating to the professional world
Making things like augmented reality, precise measurements of indoor spaces, and indoor wayfinding possible, Google’s Project Tango has all the makings to become a useful and ubiquitous tool in the AEC market.
