The building and construction industry is currently undergoing rapid change. Some of these changes include the shortage of skilled labor spurring the innovation of pre-fabricated products on construction sites. The rise in demand of pre-fabricated products is creating a network of smaller “smart” factories where pre-fab products are assembled off-site. The use of drones on site for thermal imaging, gathering real time actionable data, and mapping large areas is significantly more prevalent. In addition to drones, smart technology is increasingly visible throughout a construction site like Autodesk’s BIM technology that speeds up quality control inspection times, or the use of video from 360 cameras which decreases site visits and enables troubleshooting of work problems off-site. Although green construction is still viewed as a luxury in many ways, the demand for it from renters, commercial tenants, and home buyers is making it the expected standard. Pressure from within the construction industry and new regulation will only ensure its growth in the industry. Finally, pricing confusion will continue to be a challenge as a result of uncertain demand, trade-war tariffs, and project mix.
Earlier this month, DuckerFrontier’s Nick Limb and Peter Domingos attended the AIA Conference on Architecture in Las Vegas, Nevada. The theme of this year’s show was “Blueprint for a Better Future” and focused on how to design a better future while taking on the critical challenges facing our cities today. This exclusive three-day event included over 650 exhibitors, 50 networking events, and 500+ educational sessions ranging from workshops, seminars, tours and more.
In this short video, DuckerFrontier’s Managing Principal, Nick Limb, shares key takeaways from the show and highlights trends we are seeing in the building and construction industry. Some of these trends include:
To learn more about DuckerFrontier’s Building and Construction practice, please click here.