Despite significant investments and innovations in tech, one gap remains – bridging field data to the office.
Construction tech continues to thrive. In fact, $50 billion was invested in architecture, engineering and construction (AEC) between 2020-2022, an 85 percent boost over the previous three years, according to data from Pitchbook. This makes sense when you consider the global AEC sector is on track to reach nearly $14 trillion by 2037, according to Oxford Economics. The flywheel gains even more momentum as contractors report technology adoption is leading to double-digit profit increases, according to JB Knowledge’s latest Construction Tech Report.