There is plenty of opportunity for contech firms, as $50 billion in investment since the pandemic shows. But a recent report from global consultancy McKinsey also found that the fragmented nature of construction is holding back potential for increased productivity in the sector.
Here’s a breakdown of how contech firms can overcome this hurdle, and help contractors succeed, according to the report.
The right tool for many jobs
To combat the issue of fragmentation, where dozens of smaller contractors and subs are working on the same project, contech companies should develop tools that help solve problems for multiple stakeholders instead of just targeting one-off, point solutions, the report said.
