Global Construction Outlook 2022

Global Construction Outlook

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In 2022, the worldwide trend towards the ecosystem approach continued. Construction companies that have subcontractors and suppliers connected to the cloud are preparing for this major technological change in the industry. This vector of movement will only become even stronger this year.

There are two more types of significant technical means that will be developed and implemented – these are BIM and three-dimensional modeling. These tools help pre-assemble components more accurately.

Together with BIM, contractors, and subcontractors today strive to update their contracts, bid invites, and communication channels. This way, it is possible to get more profit and avoid poor efficiency of the approved orders. Additionally, all the remote and on-site processes will become safe. The security of the construction industry is a top priority in 2022.

How to Improve the Quality of Work

Among useful tools, it is also necessary to mention project bidding software. While reducing costs is an obvious purpose, there are also other purposes: to improve the quality of work and to minimize the number of rework. Whereas building companies can gain a significant competitive edge by using more technology and automation means, the investment needs to be made carefully and prudently.

It is worth noting that present-day contractors should understand that digitization of all the spheres of the construction industry is a key to the fast progress and improvements for more risk-free workforces, profitable contracts, and an increased number of available orders on the market.

Technology is a Tool

The tactics of single solutions that are not connected and not synchronized with computer programs, hardware, and economical processes of the company can negatively affect the results in the future. In many countries, technology is a tool that helps to make the construction better and the opportunity to earn a better reputation for the company.

Modern specialists, who have received their formation thanks to the knowledge of technology, are the first contenders for new positions in construction. For example, experts in 3D reality. At the same time, there is a significant shortage of manual workers. There is always a need for craftsmen who know how to build frame walls, for example, plumbers, electricians.

It is important for any construction company:

  • significant attention to the retention and enhancement of skilled workers;
  • digital friendliness for more flexibility and risk-free performance of the trusted building companies, reliable contractors, subcontractors, and suppliers;
  • consolidation – when the general contractor acquires other trading enterprises, he gets the opportunity to manage the labor resources of projects.

Supply Problems in 2022

The pandemic has multiplied the problems. Analysts in the US do not expect supply to improve any time soon. Supply chain issues have a big impact on how companies operate. It is also important to ensure sustainability through material storage and upfront funding. There are other ways and ideas to apply.

Future of the Industry: 2022 and Next 5 Years

As in any other industry, the construction business has great opportunities, some problems, and certain risks for participants in the construction and infrastructure sector. In 2022, we should attract more organizations that are ready to develop through the introduction of modern technologies.

In the construction industry, there may be a shift of actors towards technology and automation. More and more contractors understand that it is critically important to digitize their measuring, estimating, and accounting performance.

In addition, safety will be a top priority for the construction industry. It means that today’s building companies will pay more attention to the security of different spheres of their business. For example, the challenge of data loss can be solved with cloud data storage.

At the same time, the risk of human-factor errors decreases with fully automated on-site processes and improved risk management, budget planning, and bidding background of the construction market players.