(Santa Clara, CA) The research consultant firm, Frost & Sullivan, attempts a unique
approach to industry and market research.
In order to be unique, Frost & Sullivan, does attempt depth and
breadth to the information that it releases.
In other words, the aforementioned is also called a 360° research based
composite view. This research based
composite view includes comprehensive industry coverage, on the ground analysis
and analysis from the world’s regions.
One way this 360° research based composite view is released, is through,
the Frost & Sullivan Growth Partnership Service Program. Under the latter, is the Visionary Innovation
Group. Specifically, Visionary
Innovation as part of the Growth Partnership Service Program, attempts the
following. It attempts to provide
foresight and understanding to 13 mega trends.
These 13 mega trends are global forces that; define the future of the
world in relationship to business, societies, economies, cultures and personal
lives. Recently, Frost & Sullivan
announced that, it has completed another round of research. Additionally, this 360° research based
composite view is Visionary Innovation as part of the Growth Partnership
Service Program. Specifically, the
aforementioned business and research consultant firm revealed that, it has
released a research report. The research
report is entitled; Future of
Construction, Global, 2030. In; Future of Construction, Global, 2030,
Frost & Sullivan states that the construction industry is in the middle of
a transition.
This
transition, which the construction industry is in the middle of, is towards new
business models. These new business
models, and according to Frost & Sullivan, are technology and data
driven. Therefore, better collaboration
between stakeholders, and, higher productivity are expected. Continuing with this line of thought; the highlight
of Frost & Sullivan’s report is that, by the year 2030 global construction
spending is expected to reach, $17.5 trillion USD. The $17.5 trillion dollars are expected to be
fueled by global growth. First, the
global growth is expected to become initiated through, investments. The revealed investments are workforce management,
and, digital solutions. The latter, are
due to an aging workforce and digitization issues. Therefore and second, the global growth is
expected to be led by the U.S.A., China and India.
These three countries are expected to account for 57% of all global
construction growth. In relation to
construction as infrastructure investment, emerging economies are expected to
account for more than 60%, of the global infrastructure investment. Of those emerging economies, Asia, is expected to contribute the majority. Interestingly; and still talking about the
same thing, the U.S.A. and Canada are expected to account for 20%, of the global infrastructure
investment.
Continuing
with, the forecasted global construction growth, the aforementioned is expected
to be characterized by a greater adoption of technologies. Therefore, Frost & Sullivan predicts the
following seven growth opportunities in; Future
of Construction, Global, 2030. The
first growth opportunity is, building information modeling (B.I.M.) systems. The second growth opportunity is; low cost
sustainable building materials, and, autonomous construction equipment. The third growth opportunity is, drones and
wearable devices at the construction site.
The fourth growth opportunity is; augmented reality, virtual reality and
mixed reality devices. The fifth growth
opportunity is; smart signaling systems, and, predictive monitoring
systems. The sixth growth opportunity
is, blockchain. Finally the seventh
growth opportunity is, nanotechnology to be able to develop smart materials,
for water treatment.
However
and returning to; mega trends, the aforementioned are also under the name,
Frost & Sullivan’s Visionary Innovation Service. The latter, provides actionable and value
focused insights. In turn, these
insights provide an understanding of how transformative developments, will
impact future markets. The insights and
under the banner mega trends, then, attempt to go one step forward. The one step forward, according to Frost
& Sullivan, is providing expertise.
This expertise is then translated into early warning signals, and,
contingency planning. One of those 13
mega trends is entitled, Future of Infrastructure. Additionally and as a good example, Frost
& Sullivan reports that, global infrastructure needs will increase by 50%
over the next decade. Roads and power
infrastructure will leave behind a wide gap.
However and by the year 2030; advancements in cyber physical systems,
advanced computing, mobile, analytics and internet cloud technologies will
become manifested. Also by the year
2030, a global shift to sustainable development could save $26 trillion
USD.
To end, Frost & Sullivan did
release press statements. Chaitanya
Habib is a Visionary Innovation Research Consultant at Frost & Sullivan. Through a press statement, Mr. Habib said the
following. “Technological advancements
in Artificial Intelligence (AI), cloud software, drones,
and pre-fab construction will be
leveraged to reduce cost and improve quality and speed of construction. Smart infrastructure technologies embedded
with telematics, too, will
influence the future of the industry by creating an intelligent and on-demand
system that reduces operational costs and augments productivity.” Chaitanya Habib also said. “Safety,
which currently is a major concern in the industry, will also push the use case
for automation in the industry.
Autonomous machines, VR assistance and wearable safety are key
technologies that are expected to see increasing adoption in the
industry.” Vinay Venkatesh is a
Visionary Innovation Research Analyst at Frost & Sullivan. Through a press statement, Mr. Venkatesh said
the following. “Buildings and civil infrastructure will be the fastest-growing
segments in emerging economies from 2018 to 2030. Meanwhile, infrastructure investments in
electricity and roads are forecast to be the highest among all sectors due to
market need. By 2030, the construction
industry will account for 14.7% of all global economic output, with China,
India, and the US
being the biggest investors.” As
previously stated, Frost & Sullivan
recently announced that, it has completed another round of research. Additionally, this 360° research based
composite view is Visionary Innovation as part of the Growth Partnership
Service Program. Specifically, the
aforementioned business and research consultant firm revealed that, it has
released a research report. The research
report is entitled; Future of
Construction, Global, 2030. In; Future of Construction, Global, 2030,
Frost & Sullivan states that the construction industry is in the middle of
a transition. Lastly this transition,
which the construction industry is in the middle of, is towards new business
models.
###
Written
from Press Release
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PR
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R-Berumen28
12/13/2019
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