Global Digital Transformation on the Building and Construction Market to reach 1117.26 million US$ by the end of 2025

Digital transformation is the Process of Transforming business and organizational activities and business models That changes the business environment with a mix of digital technologies. Digital transformation is a journey with multiple connected intermediary goals, in the end, striving towards continuous optimization across processes, divisions and the business ecosystem. The building and construction industry is way behind other industries in terms of Digital Transformation Factors like. Dependency on manual workflow, shortcomings in proper planning procedures, inefficient Supply chain process are the major factors that have Hampered the growth of Building and Construction Sector
The need to improve productivity and minimize dependence on project overtime and minimized labour are the drivers of IT adoption in the construction industry. Adoption of digital transformation will be fruitful for organizations
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.

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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, our 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 labour 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 the types of threats and interruptions that can affect manual labour. 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.

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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 the incompatibility of technology. Working in synchronicity with partner companies helps to overcome these barriers.

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Contact:

Mr. A Naidu

Research for Markets

Tel: +44 8000-4182-37 (UK)

Email: alan.naidu@researchformarkets.com

This release was published on openPR.