Predictions for the construction industry in 2021
Quick Serve Restaurants and Retail Outlets Revamp
Operational costs play a role, as businesses evaluate how things are being sold. Why pay for lights and air conditioning for a 40,000 square foot building, when a 10,000 square foot building and a single, centralized warehouse boasts the same revenue? This requires physical changes to buildings – in both location and size. To pivot quickly, traditional approaches to building won’t suffice. Already major food chains and retail outlets have begun shifting to a prefabricated/modular approach to building, using technology platforms and an industrialized approach to manufacturing and building. You’ll see continued growth in companies that develop and embrace technology in the modular world.
A Surge in Smaller Health Care Outlets
A New Approach to Recruiting Skilled Labor
It is quite possible New Deal-esque programs will emerge to stimulate the economy, and if so, would have a drastic impact on the availability of skilled labor we require. It will be critical to put a new “sexy” face on our industry to recruit new talent. We have an incredible opportunity to refocus, emphasizing opportunities for computer and digital experts, in both design and manufacturing. The prefab/modular approach to construction will demand those skills, not just in CAD-like architectural solutions, but in robotics and factory automation.
New job creation in construction, robotics, and manufacturing will be critical to lure students to our industry, as will offering training for skills transferable to other industries. The more we close that gap, the more we create a level of experience that will deliver quality products, moving the industry forward in so many practical ways.
The Renovation Explosion Will Continue
Embracing the Work From Home Model
We have all been forced to embrace this new paradigm, but, like car manufacturers, we depend on physical bodies being present in the design studio, the factory floor, and the construction site. The need to develop and deliver digital content and services remotely will accelerate, forcing architects, engineers, and labor to embrace technology to deliver their services.
Drew A Buechley, CEO of Project Frog
Drew brings more than 25 years of extensive strategic advisory, financing, and operational experience, in a wide variety of industries, including the manufacturing, technology, and retail sectors. His expertise lies in directing companies through high growth and transitional periods. Follow Drew on LinkedIn & Twitter.