The construction industry experienced considerable turmoil during and after the COVID-19 pandemic, but things are starting to change for the better.
As the industry continues to recover, many new opportunities are emerging for young entrepreneurs and start-ups.
Here are eight interesting opportunities for newcomers looking to build their future in the construction industry.
1. CONTEC
Construction technology, “Contec” for short, has the greatest potential to revolutionize the world’s architectural strategy. The construction industry has always been one of the slowest adopters of new technology, but that trend is finally starting to change. Contec Estimated investment of $50 billion From 2020 to 2022 alone, it increased by 85% compared to the last three years.
The sudden demand for Contec can be attributed to several factors. The goal of building climate-resilient architectures requires more advanced technology, and businesses also need more tools to help bridge the global workforce shortages that will continue post-COVID-19. increase.industry Over 300,000 Jobs Available in the United States alone.
Additionally, digital standards are also changing to build a more connected industry.
In recent years, there have been a number of highly successful Contec startups in everything from sustainable materials production to supply chain logistics to advanced construction robotics.
2. Sustainability
The construction industry has long had a negative reputation for pollution, About 39% of global carbon emissions every year. Thanks to widespread efforts to reduce waste, move to more sustainable materials and invest in renewable energy sources, this long-standing trend is finally beginning to change again.
Startups can make a big difference in their communities by providing these services to local projects. For example, an environmentally focused start-up Zero emission energy storage systemcarbon capture technology and new organic materials help builders minimize resource consumption.
Social Video, IP Protection—Learn More About Verizon Small Business Digital Ready
3. Employee safety and productivity
Construction is by its very nature a dangerous profession and there is still much room for improvement. Startups can help make these improvements by providing new tools and insights to maximize workplace safety and productivity. In fact, small operations can focus on a few projects at a time, which can have a significant impact on construction safety.
Artificial intelligence is the most useful safety and productivity technology for start-ups, putting them on a level playing field with their larger competitors. Many start-up companies Develop your own software solution Monitor the site and each employee. Wearable devices like smart helmets will become mainstream on construction sites in the next few years.
4. Landscaping
Landscaping is an excellent option for start-ups wanting a more traditional path into the construction industry.The sector is always in high demand, but the demand is Steadily growing by about 5% in each of the last five years. Residential and commercial projects alike focus on pristine outdoor spaces.
By investing in working tools and running smart marketing campaigns, you can quickly build a successful landscaping business in your own community. For example, many landscaping startups focus on speed and sustainability to differentiate themselves from their big competitors. The landscaping industry has become the starting point for many construction companies to build their brand identity and reputation before expanding into other areas of the industry.
5. Building design
The pre-construction design phase is another area where startups can make a big impact. Improving collaboration and efficiency in the design process will make projects safer, more affordable and more sustainable. Startups can offer everything from basic workplace communication tools to advanced site planning technologies such as building information modeling.
Building Information Modeling (BIM) is a new way of converting blueprints into building plans. interactive 3D world A place where designers can immerse themselves in their projects. Startups such as Dusty Robotics, Buildstream, and ARUtility are leading the adoption of this new technology and could be your next startup.
6. Project management
Post-design project management is another world of opportunity for entrepreneurs interested in construction. With so many moving parts, this stage of construction is often the most hectic and confusing, but smart start-ups can simplify the job by offering new management apps, software and analytics tools.
Startup OpenSpace, for example, has made a big impact in just a few short years. Starting with the invention of an automated 360-degree photo surveillance and mapping system in 2017, and in 2021 $55 million investment round To make its tracking technology available to all customers.
7. Supply chain management
Supply chain disruptions have become a major problem for the construction industry, but start-ups are introducing new solutions to coordinate the movement of tools, equipment and materials. Companies such as Infra.Market and Madaster provide online marketplaces, registries and payment platforms that simplify transactions between businesses around the world.
While online trading becomes more efficient, companies’ centralized platforms such as Terane and BuildSort make it easier for industry professionals to track orders throughout the supply chain.Project manager Improved visibility We handle everything from the source of your order to international shipping and domestic shipping.
SuN takeout
The construction industry may be an integral part of our global infrastructure, but it has many deficiencies that need to be addressed. Your startup can make an immediate impact in these seven sectors of the industry by introducing new ideas and innovative technologies. Build your own legacy in the construction industry and start planning.