As we look ahead to 2020 and beyond, one thing is clear: The construction industry will continue to see high levels of growth.
In fact, analysts at Global Construction Perspectives and Oxford Economics predict that by 2025, the construction industry will have grown by 70% to $15 trillion.An even more amazing statistic is that, according to the World Economic Forum, 75% of the infrastructure that will exist in 2050 doesn’t exist today.
With so much potential for growth, it’s an exciting time for the industry. However, two significant challenges stand in the way of this growth. First, construction projects are getting more complex.
They’re bigger, taller and expected to be more efficient than ever before. In addition, the industry continues to face a lack of skilled workers.The good news is that construction firms can navigate this risky environment of more complex projects and less-experienced workers, and the key to doing that is technology.
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