One of the remarkable changes that Indian real estate has witnessed in recent years has been the growing thrust toward technology. While technology in the form of Proptech has greatly impacted the demand side, there is a visible shift in the supply side as well.
From project planning to construction mapping to site safety, technology is reshaping the Indian construction industry. Interestingly contractors and developers are not accessing the role of technology with a purely ROI-driven approach. Rather they are eyeing long-term sustainability and this indeed is a positive sign.
Multiple factors are driving technology adoption in real estate. The client’s requirements are evolving, transforming, and increasing. They need more modularized and custom-built designs, which require recalibrating existing technology. Other factors such as improved technology bandwidth, lowered prices of hardware and software, and availability of better manpower are also dovetailing the tech adoption in the construction space.
Upgraded software in construction industry
An industry that once remained callous to the adoption of technology and innovation is now aggressively upgrading to the latest versions of software tools, CRM, ERP solutions, project management software, automated HR packages, workflow management tools, etc.
IT had a backseat in the construction world in the past. Nevertheless, now it is moving to the core and becoming a critical driver of productivity. In the past, 30% of the projects generally do not get completed on time, resulting in cost overruns. However, now developers are understanding the role of IT and technology and how it enforces productivity at an individual as well as project level, streamlines operational cycles, and enhances overall efficiency in the system.
Far & wider use of BIM software
Building Information Modelling (BIM) Software is used in the planning and drawing phases. However, with the advent of advanced 3-D tools, their scope is now far and wide in the construction world. It can help in generating an automated project cost-sheet thereby saving developers from tedious manual cost sheet preparation.
They can also help in sequencing complex projects, access granular insights, and calculate time and resources for each project step. BIM tools can be supplemented with VR devices, which can further multiply its implication. With the aid of a VR tool, one can digitally visualize an under-construction project in a phased manner and accordingly make better decisions.
The growing popularity of drones
Drones are increasingly becoming popular in construction management and are widely used for a range of activities including site surveys, construction monitoring, topographical mapping, land surveys, etc. It offers a relatively cheaper alternative to aerial mapping.
Similarly, it can be used to track progress in large construction sites and also ensure whether the construction is going as per plan. They can also be applied for site safety surveillance.
Workers have to sometimes visit hazardous positions and locations for taking measurements. With drones, such cumbersome and risky tasks can be accomplished in a simplified and risk-free manner, making them very popular in the construction world.
Pivot to IoT in future
There will be a growing pivot to the Internet of Things in the future, with the advent of 5 G internet. Like other spheres of life and business, futuristic technologies such as IoT are set to play a transforming role in the construction industry. IoT will seamlessly connect devices, machines, sensors, and individual human resources through a server and facilitate cohesive sharing of data, inputs, and insights.
This will be instrumental in the real-time monitoring of machines and devices, tracking downtimes, making better estimates, resource planning, etc. Likewise, IoT can be used as a wearable for laborers and can apprise them about any potential danger on the site. This can be very useful in enforcing site safety.
IoT devices can also help in the remote tracking of the workforce and enable management to get real-time data on how construction is taking place.
