The construction industry is poised to benefit from technologies being implemented currently as well as additional advances that hold potential for future evolution, according to a NAIOP Research Foundation report, An Overview of Emerging Construction Technologies.
One challenge for the construction industry is most construction projects' unique requirements also have limited the opportunities to create economies of scale that support investment in technologies. “However, recent advances are increasing the efficiency, flexibility and adaptability of many emerging construction technologies, making them more cost-effective for firms to adopt,” the report noted. “A significant and protracted labor shortage in the construction trades is also increasing the costs of conventional construction methods, making labor- and time-saving technologies more attrac