the importance of technological innovation in construction

Technological innovation is fundamental in all sectors of activity and also in the construction sector. However, there are still few companies in this sector that invest in innovation. Why should we be concerned about this and how can we solve this problem?

It is common knowledge that the construction sector represents for the national GDP about 4.5%. Real estate contributes to the national GDP 12.6 % (2019 data, Source Pordata).

However, those who work in these two sectors (real estate and construction) know that, despite its importance to the national economy, the construction sector continues to lag far behind when it comes to the adoption of new technologies.

In fact, according to McKinsey, civil construction is the second worst sector in digitalization and innovation. It is second only to agriculture and hunting.

The sector is behind both in terms of worker training and equipment used. And it is also obsolete in terms of equipment and various resources. However, there is technology in the market capable of changing this picture and creating disruption in the sector.

what can be done to encourage technological innovation?

As such, it is necessary to create constructechs (construction startups) to develop technological solutions for the different phases of the value chain in construction. Whether in the planning phase, project development, and even in the management of the property or its commercialization, there must be room for innovation.

Innovation not only in terms of production technology, but also in the technical training of professionals.

In fact, the sector is traditional, however it needs to evolve. It has to evolve to meet the expectations of today’s buyers. Real estate promoters suffer with increasing construction costs. Technology must also contribute to the reduction of these costs. But not only that: make the real estate of the future ecofriendly. It is essential that the construction sector causes as little impact as possible to our planet should be the focus of technology.