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Global Digital Transformation on the Building and Construction Market Size, Status and Forecast 2025
Pages: 148
Tables and Figures: 176
Executive Summary
This report studies the Digital Transformation on the Building and Construction market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions, and splits the Digital Transformation on the Building and Construction market by product and Application/end industries.
In 2017, the global Digital Transformation on the Building and Construction market size was 745.59 million US$ and it is expected to reach 1117.26 million US$ by the end of 2025, with a CAGR of 5.08% during 2018-2025.
As to what constitutes the important elements of digital transformation in construction, out report draws out three main areas.
Big data management
The first is the need for big data: management of bulk data. This allows for information sharing on transparent and accountable platforms and processes. This enables a company to work with materials, equipment and labor suppliers in collaborative and inclusive decision-making ways. Moreover, big data capture allows for improved better analysis and prediction. An example is with Malaysia’s Mass Rapid Transit Corporation which has begun leveraging cloud-based collaboration on a common data environment, in partnership with Microsoft’s Global ISV and Bentley Systems to enable better big data analysis as major transportation projects develop.
Automation
The second area is with automation. The use of machines, whether programmed diggers or drones, facilitates competitiveness and reduces unpredictability. In turn this helps to minimize time wastage and helps to keep control over cost overruns. Furthermore, robotics can improve resiliency to they types of threats and interruptions that can affect manual labor. With automation, drone technology is one of the tools a construction company can employ to produce digital data, such as ground-based scanning. Such data can produce 3D modelling and merging images to form a seamless mosaic. Additionally, drone technology can be deployed rapidly, safely and cost-effectively.
Standardization
The third area is with standardization. This generates efficient resource management and it simplifies operations and the supply chain. Furthermore, the use of computers to set appropriate quality attributes helps to minimize waste and it can boost efficiency. An example of a standardization package comes from Katerra. The software brings Building Information Modeling tools and computational design and integrates these with global supply chain infrastructures, which enables efficient material ordering, manufacturing, tracking, and delivery.
Barriers to progress
The barriers to digital transformation, according to our analysts, and less often with the core construction form and more so with subsectors, and stakeholders who have yet to go digital. Issues can also exist within firms where there are multiple sites and communication breakdowns occur due to incompatibility of technology. Working in synchronicity with partner companies helps to overcome these barriers.
This report focuses on the global top players, covered
Pages: 148
Tables and Figures: 176
Executive Summary
This report studies the Digital Transformation on the Building and Construction market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions, and splits the Digital Transformation on the Building and Construction market by product and Application/end industries.
In 2017, the global Digital Transformation on the Building and Construction market size was 745.59 million US$ and it is expected to reach 1117.26 million US$ by the end of 2025, with a CAGR of 5.08% during 2018-2025.
As to what constitutes the important elements of digital transformation in construction, out report draws out three main areas.
Big data management
The first is the need for big data: management of bulk data. This allows for information sharing on transparent and accountable platforms and processes. This enables a company to work with materials, equipment and labor suppliers in collaborative and inclusive decision-making ways. Moreover, big data capture allows for improved better analysis and prediction. An example is with Malaysia’s Mass Rapid Transit Corporation which has begun leveraging cloud-based collaboration on a common data environment, in partnership with Microsoft’s Global ISV and Bentley Systems to enable better big data analysis as major transportation projects develop.
Automation
The second area is with automation. The use of machines, whether programmed diggers or drones, facilitates competitiveness and reduces unpredictability. In turn this helps to minimize time wastage and helps to keep control over cost overruns. Furthermore, robotics can improve resiliency to they types of threats and interruptions that can affect manual labor. With automation, drone technology is one of the tools a construction company can employ to produce digital data, such as ground-based scanning. Such data can produce 3D modelling and merging images to form a seamless mosaic. Additionally, drone technology can be deployed rapidly, safely and cost-effectively.
Standardization
The third area is with standardization. This generates efficient resource management and it simplifies operations and the supply chain. Furthermore, the use of computers to set appropriate quality attributes helps to minimize waste and it can boost efficiency. An example of a standardization package comes from Katerra. The software brings Building Information Modeling tools and computational design and integrates these with global supply chain infrastructures, which enables efficient material ordering, manufacturing, tracking, and delivery.
Barriers to progress
The barriers to digital transformation, according to our analysts, and less often with the core construction form and more so with subsectors, and stakeholders who have yet to go digital. Issues can also exist within firms where there are multiple sites and communication breakdowns occur due to incompatibility of technology. Working in synchronicity with partner companies helps to overcome these barriers.
This report focuses on the global top players, covered
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
