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Digital technologies could unlock billions for construction

20 Mar 2018

Many construction companies have not transitioned to digital as the mainstay of their business. Moving to a digital model is essential for future survival and drone technology will play a big part in this.

 

A digitally enabled jobsite and workforce allow a construction site to be as productive as a connected factory. Accenture Strategy analysis identified 20 partial digitization initiatives that can unlock an additional 50% EBITDA across a typical construction company’s operations by 2020. Not surprisingly, 50 to 70% of the benefits these digital technologies unlock relate to connected worksites.

 

Some construction companies are already piloting connected worksite initiatives, and seeing a 15 to 30% impact. Wearables, drones, augmented reality, sensors and automation not only are essential to connected worksites they multiply the value you will unlock with BIM and 3D technologies.

 

Not only do digital technologies help a job site run better, they can get it up and running far faster than traditional methods. Using typical ground-based surveying, it is not unusual for two to three weeks to pass before a 60-acre site is fully documented. But, using drones to collect that same data, mapping a site can take four days or less.

 

To use digital technologies to fuel growth, increase productivity and kick-start innovation not to mention to meet growing consumer demand for connected building construction companies should invest now in the technology that is disrupting their business.

 

Recommendations:

 

1. Split focus: Winning in the new era of digital construction requires a two-pronged approach: change the way you operate by digitizing your existing business while simultaneously creating new business models that will counter the cannibalization of traditional core markets.

 

2. Invest in disruptive technology: From wearables to drones, upping your new tech IQ gives competitive advantage.

 

3. Grow digital partnerships: Focus on your core capabilities while helping to build digital expertise with partners who specialize in what you need.

 

Click here to view the report.

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