Innovations in construction industry

New technologies are transforming the engineering and construction (E&C) sector at an accelerated pace, according to a new report compiled by the World Economic Forum in collaboration with The Boston Consulting Group (BCG). The report — Shaping the Future of Construction: Inspiring Innovators Redefine the Industry — analyses 10 innovation leaders, identifies key success factors, and makes policy recommendations for accelerating innovation in construction.

Transformative technological developments like 3D printing, building information modelling, wireless sensing, and autonomous equipment are changing the way this field is progressing now. 

The ten lighthouse innovation cases in the report illustrate the value of embracing innovations. Prominent flagship projects, such as Dubai’s Burj Khalifa, the world’s tallest building, and The Edge in Amsterdam, the world’s most sustainable office building, showcase state-of-the-art innovation. So too do the various pilot projects or start-ups that the report analyses, such as the 3D printing of houses by the Chinese company Winsun or the predictive analytics of construction data by the Chicago-based firm Uptake, Forbes’s hottest start-up of 2015. Jointly, their inspirational stories give a glimpse of the industry’s future.

“To paraphrase William Gibson: the future of construction is here now—it is just not evenly distributed. Innovative companies and projects, as described in the report, demonstrate the art of the possible and how to address the challenges involved,” says Philipp Gerbert, a BCG senior partner and co-author of the report. “The impact of these innovations on the traditional construction ecosystem will be interesting to follow. We see a widening gap between the innovation laggards and leaders, in particular with regards to their digital transformation.”                             — TNS