What’s Hot Right Now: Construction Industry Trends

//What’s Hot Right Now: Construction Industry Trends

What’s Hot Right Now: Construction Industry Trends

Construction technology, along with building and design approaches, are just some of the different aspects of our industry that continually evolve. Staying up to date with the current trends in commercial construction can help build your brand, and could even be a difference-maker for winning new projects. Here are some hot construction industry trends right now.

Target-Value Design

Target-Value Design (TV-Design) is growing in popularity as a type of lean construction principle that integrates customer value as a key factor. Construction firms endeavor to save time, labor, and materials without compromising quality. Target-Value Design is one way to achieve those goals. The traditional design process is undergoing a transformation as target-value design and delivery become more popular. TV-Design allows you to review benchmarking studies to determine the project’s budget range. A growing number of construction estimators are implementing this approach because value dictates cost and budget dictates design. The fundamentals of TV-Design include: forming cross-functional teams or clusters, setting value targets, and set based design.

Optimistic Outlook Continues

A number of construction careers are still in high demand in most regions around the country. Surveys indicate that many contractors still have a backlog of projects yet to be built. They are also optimistic about future demand. A number of firms have even suggested that the current trade war with China hasn’t impacted their projects. Branch Builds, a general contractor based on the East Coast, estimated that they will see $400 million in new contracts in 2019 alone, where finding enough skilled labor seems to be a shared concern among business owners.

Digital Twins

The use of digital twins is gaining popularity in commercial construction. A digital twin is a computerized model of a construction project which collects data about the new structure using things such as sensors and wireless tech and drones. Construction firms are taking the concept of using digital twins from the manufacturing and aviation sectors. This allows owners to gain valuable insights about the performance, operation or profitability of a project, whether built or in progress. Here are some of the additional ways this technology is helping the industry:

  • Accident prevention – You can use digital twins to predict potential flaws in electrical, HVAC and water systems.
  • Building efficiencies – Informs facilities managers how a building is performing in real-time.
  • Increase profits – Provides data on retailer busy times and optimal temperatures during these times to increase sales. Also indicates the best locations for in store queues.

From Target-Value Design to digital twins, the demand for candidates trained in using this technology is predicted to grow in the foreseeable future. An optimistic outlook throughout the industry should also continue to boost construction starts and salaries. Be sure to check back soon for additional construction industry trends.

 

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By | 2019-09-17T11:35:52-04:00 September 19th, 2019|Construction Blog|

About the Author:

The Birmingham Group has been serving the construction industry since 1967. Brian Binke took over the firm in 1995 and since that time, he has personally placed over 1200 construction managers and senior leaders, with company revenues ranging from $10 million dollars to the largest ENR 400 companies in the industry. Brian is an industry innovator, with a specialized skillset in construction. His keen understanding of business, the construction industry, and ability to effectively match and recruit top leaders has led to many accolades. He was ranked the #1 International Billing Owner in the construction industry for his own personal production and has been consistently recognized as one of the Top 10 International Billing Owners out of 800 owners worldwide. This includes owners across every industry. In 2013, Brian was awarded the #1 International Billing Owner within the entire network. For over two decades, Brian has been considered one of the most influential thought leaders in the construction industry. His business and construction knowledge are used as a resource for some of the nation’s most prominent publications. In the past year alone, Brian has been quoted in or authored articles for The Wall Street Journal, CBS News, MoneyWatch, Construction Today, ConstructionDive, United Rentals, Fast Company, Entrepreneur Magazine, American Express, Builder Magazine, and Human Resource Executive, among others. "I believe companies are a lot like sports teams. The team with the best players usually wins. It is my passion to deliver the absolute best talent to my client companies – the market’s top performers, the talent that every company wants to hire but which seldom seems available. To put it simply, I thrive on helping my clients build their Dream Team." - Brian Binke, The Birmingham Group
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