Report looks at the geospatial market in the AEC industry

July 14th, 2019, Published in Articles: PositionIT

The “Geospatial Market in the AEC Industry” report presents a harmonised market of the global construction industry and the critical role of geospatial information and technology in enhancing the efficiency and productivity of the sector. The study presents a comprehensive market of the global architecture, engineering and construction (AEC) industry and its regional distribution for the 2014-2022 timeline under three key segments:

  • Transport infrastructure, including roads, railways, ports and airports;
  • Building infrastructure, including residential, commercial and social infrastructure,
  • Industrial infrastructure comprising oil and gas, mining and power, water and telecom (utilities).

While the AEC industry is known to be a laggard in the adoption of technology, it is one of the most information dependent sectors. There exists tremendous potential in the industry to use of innovative technologies to further efficiency, productivity and efficacy.

The past decade has witnessed a need for utilising integrated solutions such as building information modelling (BIM) and geospatial technologies (duly augmented by digital technologies such as IoT, cloud, AR/VR, and more) to intelligently model construction projects. The AEC industry on the whole is undergoing throes of major change with the onset of these integrated solutions to create operational efficiencies and additional business avenues, eliminate data redundancy and costs across planning, designing and engineering, construction and operations and maintenance continuum.

As the industry begins to embrace these technologies, investments in construction technology has started to rise. From 2011 to 2017, start-ups in construction technology attracted an investment of around $10-billion for BIM, data-gathering analytics, design and planning software, among others.

The increase in adoption of technology in the AEC industry coupled with the thrust provided by national governments to infrastructure and construction technology via budget, policies and initiatives, is going to result in the growth of the AEC market and the geospatial market in the AEC industry. In a way, the transformation in the AEC industry has also arrived in developed countries such as the UK, USA, Germany, the Netherlands, Norway and Sweden; but it still lags in developing countries, thus having a direct impact on the AEC industry market.

The AEC industry is ripe for disruption. From BIM to geospatial technologies to 3D printing and digital twins, the construction workflow is undergoing a massive transformation. Undoubtedly, geospatial technologies are fundamental to facilitate an incremental construction strategy for project efficiency and outcomes. In the near future, as more geospatial technology companies enter the AEC foray, the technology shall become crucial for the overall growth of the AEC market.

The report presents a view of the geospatial segment in the AEC industry. It further explores the scope, trends, opportunities and market size of geospatial industry solutions in the construction industry to establish the existing, as well as emerging directions and dimensions for the benefit of geospatial solution and service providers, construction industry players and decision makers.

The report is available online here: https://geobuiz.com/geospatial-aec-report/

Contact Geo Geospatial Media & Communications, info@geobuiz.com

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