How Has COVID Affected Home Building
The construction industry is one of the most volatile industries, and it’s hard to predict what will happen in any given year.
However, 2021 seems like a turning point for this business as new challenges arise while old ones continue going strong due to rising costs on top of increasing labor shortages that have been plaguing them since before 2020 ended.
With innovative ideas born from necessity comes opportunity; these innovations can help you stand out among your competitors when bidding or developing projects which mean higher margins overall.
The COVID-19 pandemic has caused an increased reliance on construction technology, but it is not the only factor leading to a rise in inventions.
Two Benefits In The Construction Industry
With major innovations expected through 2021 and beyond, there are some types of tech that will become more popular than ever before, such as:
- The Use Of Construction Drones:
The construction industry has seen a huge increase in drone usage over the past year. Companies are using this technology for far more than just aerial photography. They’re finding that it offers an unbeatable solution to get closer views of their projects from every angle while reducing costs associated with traditional methods such as scaffolding or ladders.
The Benefits Of Using Construction Drones:
Drones are cutting-edge tools that provide a valuable service to the construction industry. They can be used for mapping large areas over long distances, producing real-time heat maps and thermal images, which will help with decision-making during an entire building process.
Drones are a cost-effective way of increasing worker safety on construction sites. Drones can also be used to prevent accidents, like when drones perform dangerous tasks that would otherwise cause injury or death for humans, such as scaling tall buildings with nothing else available.
So droning out there will not only save lives but it could keep projects running smoothly and quickly by reducing labor costs while minimizing risks from theft – all this without compromising quality.
- Smart Contracts:
The use of smart contracts will allow organizations to do business with one another more efficiently. For example, they can buy and sell services on an all-inclusive platform, where the blockchain enforces rules as well as deadlines for closing out trades or tracking progress throughout any given project.
In addition, this system would be faster than traditional methods because there is no need to go back and forth between separate parties involved in such transactions. Instead, everything gets done through this shared ledger which updates automatically.
Three Disadvantages In The Construction Industry
- Stricter Health and Safety Regulations and Higher Infection Risks
Construction sites are becoming dangerous places for construction workers as they face infection from COVID-19. The impact of this pandemic on-site guidelines has been felt in many ways.
For example, stricter cleanliness requirements and increased union influence on projects mean that building sites will need even more manpower than usual which could add cost or timeline to your project depending on how you work with these new restrictions.
- Price Increase For Construction Material
As per the Association of General Contractors, The Producer Price Index for construction goods rose 5% over the three years ending in November 2020. Costs are increasing due to rising interest rates, which will complicate all types of projects, even putting further pressure on total building output this year.
- Overall Price Increase and Labor Shortages
Construction industry trends are changing at a rapid pace. Skilled labor shortages, rising prices, and regulatory challenges are likely to continue in the coming decade with intense scrutiny on workplace safety as well as climate change adaptation expected from governments around the world; this may become more challenging for construction companies.