By 2030, India will become the third-largest construction market globally, with up to 15% contribution to the GDP by the real estate industry. Amidst the growth, the Indian construction industry can make use of improved construction processes and productivity by implementing innovative solutions based on technology. Implementing the latest innovation in construction technology cuts cost, streamlines progressions and reduces turn-around-time of project delivery.
Builders can use diverse types of construction technology together to improve the user experience and offer a superior project quickly.
AI-based innovation is taking place in the real estate industry, and software algorithms are adapting to solve more complex problems. Primarily, AI is venturing into voice recognition and decision making. In the future, real estate developers can make use of AI reduce the occurrence of wrong decisions made due to lack of data.
High-definition surveying can cut down instances of geological surprises – one of the biggest reasons for the increased cost. Latest construction technology such as high-definition photography and photogrammetry can help in reducing surprises when the builder starts constructing. Technology such as 3D Laser Scanning and UAV are guiding real estate developers to showcase ground reality accurately.
Building Information Modelling will change how real estate developers manage, design, and develop a construction project. Innovation in construction technology is leading to next-generation 5D BIM that adds a project’s cost and schedule to the standard parameters already existing in 3D BIM. Latest construction technology such as 5D BIM will allow real estate developers to identify risks earlier and make better decisions.
Robotics are continuously growing more accurate and precise, which is leading to their use in construction projects. Since construction projects are often unpredictable and intrinsically unstructured, the use of robots can aid in the construction. The latest construction technology, when paired with the use of robots, can be used for predictable activities that are repetitive such as bricklaying, concrete recycling, spool fabrication, tiling and more.
Modular construction allows real estate developers to accelerate construction and reduce project delivery time. Through this latest construction technology, the building is constructed off-site in a controlled plant using the same material and standards but in reduced time. In this process, buildings are produced in modules and then put together on site allowing greater flexibility, reduced construction schedule, less material wastage and eliminating weather delays.
The use of wearable technology in the real estate industry is aimed at improving working conditions by boosting safety standards and monitoring project progress. Wearable technology will also support other types of construction technologies such as 5D BIM and Augmented Reality. For 5D BIM, wearable devices with a holographic display and advanced sensors can map physical environment. Next- generation wearable devices will also send alerts if operators or workers are falling asleep or if an asset is non-operational.
Augmented reality is transforming the real estate industry in terms of construction, maintenance, operations and user experience. The primary focus is on task analysis, repair and building. Furthermore, augmented reality has a strong provision for third- party applications and tools that can be used in numerous ways. AR has both on-site and off-site use-cases and works on solving problems that align with business goals.
Innovation in construction technology is happening across different verticals. Real-time process management software will be the digital backbone for all construction processes from the initial stage to the finish. Software solutions such as a domain focussed ERP is changing the way real estate industry functions. A construction software solution helps automate construction project lifecycle and allows developers to capitalise on data sources, tools and Manpower.
Self-healing concrete is the next revolution in the construction industry. It will be used in both public and private spaces, including roads, buildings, and homes. Self- healing concrete can heal cracks on its own and will change the way construction works. Making use of polymer capsules, bacteria, and sodium silicate; self-healing concrete is the latest in construction technology.
Without a doubt, the real estate sector is all set for disruption through the latest in construction technology and adoption of this rapid technological progress is critical for real estate developers from all standpoints. Not only will technology be favourable economically for the developer, but also deliver a superior product to the end- consumer.