Impact of industry revolution in the construction industry
For the past years industry demands on man and his/ her programing, but now each and everything transforming depends on the digital transforming, these major changes give arise to an impact named as Fourth Industrial Revolution. Streaming services like Facebook,Instagram, YouTube have transformed the major source acquiring knowledge rather than educational Institution.A Famous E commerce giant like Amazon and Alibaba have started distribute the construction material like brick,cement, etc.….
Digital Mobility based companies challenge automotive industry.
The best part of the development of companies always satisfies the customer needs, produce the products based on the demand and those demands are surplus. At present other than the Primary and secondary producer, territory producer i.e., service-based rating brings up the company to higher level. During this Pandemic period most of the essentials are easy reached the consumer all this development indirectly or directly makes an impact in the construction field also.
These innovations redefine the skills that required for competence that needed to thrive. Anyway, the construction industry has continued to operate the same as it has been in past 5 decade. It still relies on manual labour, mechanical technology and business models. Consequence of this products are deteriorated.
Only thing constant in the life is Change, digital technologies begun to enter the industry, gradually changing how infrastructure, real estate and other built assets are designed, constructed, operated and maintained. These technologies, including building information modeling (BIM), prefabrication, wireless sensors, 3D printing and automated and robotic equipment, are affecting the entire industry. Their economic and social impact could be substantial, given that the construction industry accounts for 6% of global GDP.
These megatrends should motivate the business people to rethink about the industry practices those who not advanced. Climate changes, resource depletion, a widening lack of knowledge about the updates, and rapid urbanization.
These amid changes in the construction industry led to high ambiguity and make it impossible to predict what lies ahead. Anyway, with these scenario planning, makes the stakeholder to prepare variety of possible future.