Construction Industry Technology Trends in 2021
The construction industry is a powerhouse, adding more than $900 billion to the US economy in the first quarter of 2020, then disaster struck. COVID-19 caused a massive slowdown claiming almost a million jobs and over $60 billion of revenue. Obviously, companies exposed to COVID-19 affected segments were hit harder, but that wasn’t the only determination of weathering the storm. Companies that could react to the changing realities on the ground through capitalizing on advancements in technology to meet the needs of a diminished workforce and lower overhead costs seem to fair much better. While this wasn’t the only factor, there are significant trends occurring in the industry and much room for optimism.