Digital technology boost to construction industry
The UK’s ‘Digital Leaders’ could unlock up to £92 bn-worth of economic growth and hire 70,000 more people by gaining access to the best digital technology available.
This is the claim presented by a new cross-industry report from Oxford Economics for Virgin Media Business that analysed 1,000 companies employing 470,000 people. It found that the UK economy could see an increase of 2.5% in GDP (£92bn) and create more than a million new jobs over the next two years.
The report suggests that construction is at the forefront in terms of how much could potentially be gained. Their analysis revealed that construction firms that have embraced digital technology have grown their revenue by 5.9% and are optimistic about being able to drive growth further still.
Volker Buscher, director of digital at Arup said, "Engineering and construction is traditionally perceived as a manual industry but digital technology is reshaping the sector. We use five dimensional modelling techniques to visualise buildings and structures before they are built, looking not only at a 3D design but also predicting economic and environmental impact.
All of these areas require skills in data analysis, coding and project management, making Arup Digital one of the fasting growing areas of our business."
It may not be all positive development however, as the further adoption of digital technology is projected to result in job losses of some 24,000, a trend reflected across the other industries surveyed such as retail services and manufacturing. Despite this, 39% of construction firms said they do not expect any jobs to become obsolete from increasing their digital use and the overall finding of the report was that expected job losses are outweighed by the number of new hires that are anticipated.
“Companies tend to be somewhat over-optimistic when forecasting, but this figure nevertheless demonstrates a level of confidence in the potential of digital to create jobs,” the research said.
The report also found that SMEs with fewer than 250 employees have the most to gain from investing in digital technologies and are in a strong position to catch up with larger companies.
 Related articles on Designing Buildings Wiki
- Building Automation and Control System BACS.
- Building management systems.
- Engineering Smart Cities.
- European connected and smart home market.
- In-building wireless.
- Internet of things.
- Internet of things market.
- Local area network.
- Mean lean green.
- Open data.
- Open data - how can it aid the development of the construction industry?
- PAS 180:2014 Smart cities – Vocabulary.
- PAS 181:2014 Smart city Framework. Guide to establishing strategies for smart.
- PAS 182 Smart city data concept model.
- Power over ethernet.
- Smart buildings.
- Smart cities design timeframe.
- Smart cities.
- Smart construction.
- Smart home.
- Smart technology.
- The smart buildings market.
Featured articles and news
An introductory article on the different types of cladding systems for buildings.
UK-GBC green paper proposes more powers for cities on new-build housing.
The Pompidou Centre – not a monument but an event.
The Chartered Institute of Building restructures and launches 29 new local hubs.
Designing Buildings Wiki talks to the founder of the world's first indoor biophilic gym, now open in London.
£1.3bn Swansea Bay project to be backed as a 'pathfinder' for other tidal lagoon projects.
Designs released for a proposed Las Vegas stadium to entice the Oakland Raiders.
Have a look at these award-winning concept designs for a thermal bath in Latvia.
Flagship project no longer "a going concern" according to the Garden Bridge Trust as funding slows.
How the work of 20th century urbanist Jane Jacobs continues to resonate in light of the government's garden village plans.
New landmark for the Ecuadorean capital of Quito utilises a sinuous facade mold system.
Have a look at this glass piano and violin building in China.