[December 04, 2018] |
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Triax Technologies Predicts 2019 as the Year of Broad Digital Disruption in Construction Industry
Triax
Technologies, Inc., a leading provider of technology for the connected
jobsite, today shared its predictions for the key technology trends
that will shape the construction industry in 2019, impacting contractors
as well as their employees and industry partners.
"The construction industry has been making great strides in digitization
and we expect this to accelerate in 2019," said Pete Schermerhorn,
president and CEO, Triax Technologies. "Construction technology has
moved past the early-adopter stage, and in the new year, IoT technology
and analytics will become more firmly entrenched in construction
processes across the project lifecycle. As more data is collected, and
more resources are put in place to support it, IoT will become an
integral part of daily operations and strategic decision-making."
Below are the five technology trends that Triax expects to shape the
construction industry in 2019:
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IoT will embed itself across the project lifecycle. 2018 was
the year that practical IoT-based applications took hold at the
jobsite, and in the new year, contractors will continue to make
automatic data collection from resources on site (workers, equipment,
tools, etc.) a priority. As existing IoT solutions add new types of
sensors to enrich the types and quantity of data collected,
organizations will expand their use of data for real-time monitoring
and control. IoT will also become more embedded in existing
construction processes throughout the jobsite, in areas such as site
control and security, to achieve efficiency gains. The widespread
adoption of IoT and the groundswell of data will drive greater
adoption of visual data analytics tools and dashboards.
-
Data will become king. The past year represented only
the tip of the iceberg when it comes to achieving data-driven
insights, and while progress was made, there is still a long way to go.
According to research, 90
percent of the world's data was created in the past year, but only one
percent is being used effectively. In 2019, construction firms
will further invest in their internal data collection, analytics and
decision-making processes (e.g. hiring data specialists, integrating
new data sets into their own internal platforms) to act upon data
insights in a timely and effective manner. This will advance industry
digitization efforts, firmly moving technology from the hypothetical
to the practical in the new year.
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Point-solution fatigue will spark further integration. In 2019,
more contractors and technology providers will work together to build
truly integrated systems. Customers do not want to use multiple
platforms for similar functionality, and as they become more tech
savvy, and more solutions become available, they will increasingly
integrate third-party data sets with internal platforms and processes.
On the provider side, Application Programming Interfaces (APIs) will
become more sophisticated, as enterprise software players develop the
functionality to incorporate new data sets and tech start-ups collect
more data. This time next year, we expect there will be enhanced
cooperation - and meaningful integration - among key technology
players in the space.
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Tech will augment, not replace, workers. Despite advances in
automation, buildings will continue to be built by humans for the
foreseeable future. In 2019, the story will not be technology
replacing the workforce but technology empowering the workforce to do
their jobs better. Contractors will continue to search for solutions
that are employee-friendly and unobtrusive, prioritizing features such
as battery life, small form factor and worker privacy. With the
skilled labor shortage showing no signs of slowing down, companies
will turn to technology to do more with fewer resources and will
continue to hire and train employees to incorporate technology into
their work.
-
Insurers will further embrace IoT. Construction technology has
moved from a competitive advantage to an operational necessity, and in
2019, a growing number of insurance organizations are expected to make
IoT technology and data analytics a key part of their risk management
and mitigation practices. As early technologies, such as wearable
devices, improve injury response and hazard communication, more
insurance organizations will embrace innovation to deliver value to
their clients and prevent unnecessary losses. In 2019, we expect to
see more direct investment and partnership between insurance carriers
and tech providers.
About Triax Technologies, Inc.
Triax Technologies, Inc. is a Norwalk, Conn.-based technology company
that develops and delivers Internet of Things (IoT) solutions for the
construction industry. Its flagship Spot-r system connects workers,
equipment and managers through a proprietary, minimal infrastructure
network, sensors and a cloud-based dashboard. By providing real-time,
data-driven visibility into daily site operations and safety incidents,
Spot-r is changing the way construction companies manage resources,
information and risk. Triax develops intelligent, actionable solutions
that address the complexities of an active jobsite, and helps firms
streamline processes and build safer and smarter. More information can
be found at www.triaxtec.com.
LinkedIn
Twitter (News - Alert): @TriaxSpotr
View source version on businesswire.com: https://www.businesswire.com/news/home/20181204005246/en/
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