Frost & Sullivan Reveals a Forecast for Global Construction


(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. 

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Written from Press Release
Registered Writer with
PR Newswire Association, LLC
R-Berumen28
12/13/2019

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