One constant through centuries of business history is construction, the world’s largest industry. It’s little wonder that construction continues attracting men and women who want a career in a stable, highly valued industry that impacts everything from the local job market to how people function at home and work.
While construction has remained a thriving industry, it’s also constantly evolving. Innovations in technology, regulatory changes, and market demand drive construction industry trends. In recent times, these trends are reshaping the industry and have the potential to improve efficiency, sustainability, and safety.
Those who aspire to earn a college degree in construction management can play a vital role in creating the built environment. Part of that education is learning about the construction industry trends driving change.
Construction is the World’s Largest Industry
Construction, which includes real estate, infrastructure, and industrial structures, ranks as the largest industry in the global economy. The industry accounts for 13% of global Gross Domestic Product (GDP), according to McKinsey & Co.
The industry involves various activities, including architectural design, engineering, project management, procurement of materials, construction site operations, construction management, and post-construction services.
It’s difficult to overstate the importance of the construction industry, which one expert in the field called “one of the most important activities for economic and social development.” Construction involves the creation of residential buildings, commercial complexes, industrial facilities, bridges, roads, dams, airports, and facilities that support energy generation, basic sanitation, and communications.
Construction also employs a diverse workforce, including skilled tradespeople, architects, engineers, construction managers, and laborers.
The Latest Construction Industry Trends
Sustainable Construction Takes Center Stage
The construction industry is rapidly adopting sustainable and “green building” practices. This shift focuses on using energy-efficient materials, renewable energy sources, and environmentally friendly techniques to address climate change and environmental sustainability.
Technology Innovation Drives Efficiency
Technological advancements are significantly impacting construction. Sites are now integrating the Internet of Things (IoT) to enhance equipment tracking and improve the efficient use of machinery. IoT also supports predictive maintenance for vehicles and generators, with experts predicting a surge in adoption rates.
AI and Automation: The New Norm
Artificial intelligence (AI) is revolutionizing construction management through the use of robotics, drones, 3D printing, and autonomous vehicles. These tools are crucial for improving the precision of construction projects and enhancing operational efficiency. Building Information Modeling (BIM) systems, which leverage AI for better project management, are expanding due to their proven benefits in fostering effective collaboration and improving design accuracy.
The Rise of Cloud Computing
Cloud computing is gaining traction within the construction industry as it embraces a more data-driven approach. This technology enhances the flexibility and accessibility of project data, allowing firms to make informed decisions quickly and efficiently. The continued growth of cloud computing underscores its importance in providing scalable solutions that support a range of construction activities.
NMU Global Campus BS in Construction Management
NMU Global Campus offers a Bachelor of Science in Construction Management designed to provide students with the knowledge and skills necessary for a successful career in the construction industry.
The 100% online degree program allows students to pursue their education remotely. It also enables working professionals the flexibility to earn a degree while balancing their personal and professional lives. NMU encourages women to enroll for a degree in the once male-dominated field, becoming part of a change that has seen the number of women in construction continues to grow.
The degree program aims to equip students with the practical skills required in the construction industry. Through coursework and hands-on learning experiences, students develop construction project management, cost control, quality assurance, and risk management skills. They gain proficiency in using industry-standard software and tools for project planning, estimating, and scheduling.
Students also reap the benefits of learning from experienced faculty with industry expertise and academic qualifications. The faculty members bring real-world perspectives to the virtual classroom, giving students valuable insights into the construction industry and its best practices.
