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Last edited 25 Mar 2022
Digital technology boost to construction industry
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.
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.
 Find out more
- Building Automation and Control System BACS.
- Building management systems.
- Digital 21st century - Ramboll.
- 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.
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