A Study on Advanced Trends in Construction Industry

Abstract

As a whole, the construction industry not only affects our lives on daily basis rather it also affects the economy and environment as well. As our quality of life in one way or another is directly related to the built environment surrounding us, the construction industry serves all the other businesses as their economic values are created by the means of the constructed assets. The construction industry accounts for 6% global GDP and construction industry being the largest consumer of raw materials also supports the survival of other businesses.Globally, a number of megatrends are actually shaping the future of the construction business such as, over 2,00,000 people moves to the worlds urban areas each single day, due to which the demand for affordable housing, social utility and transportation infrastructure also increases whereas on the other hand the contribution of construction industry in the overall emissions of green house gases is believed to be over 30% from the buildings only.Such trends on one side are challenging whereas the other side of such trends is that they offer multiple opportunities as compared to other industries. The construction industry as a whole has always been slow at technological development in the past years, but recently, there are a number of researches are going on for the betterment are going on.This study discuss an overview of various innovative trends and their solutions in the construction business, as these trends are mainly complied on the basis of previous researches and reports.