In our previous part, we outlined the impact of the COVID-19 pandemic on the construction industry. In this part, we’ll explore more about the effect of the Coronavirus on the various domains of the construction industry, including project sales leads generation in construction industry and construction material supplier businesses.
Let us study some of the long term effects of COVID-19 on a fragmented yet billion-dollar ecosystem.
Apart from some immediate trends, the crisis would ink/characterize some long-term effects on the construction industry that would be adopted as modern versions of operations after the crisis ends.
- Stability would be the New Need
The fragmented ecosystem is now coordinating with IT, R&D, and technological or digitization expertise to strengthen its Achilles heels.
The pandemic would give a new mindset and the need for resilience would be constant post-crisis.
- Augmented Adoption of Off-Site Construction
Off-site construction has the potential to prove its distinctive scope in the crisis phase when construction businesses could only continue on-site construction with well-planned measures to monitor the movement and interaction of workforces. Off-site supervision through wearable technology, sensors, drones, etc. can also contribute in establishing a well-monitored environment where necessary steps could be taken to combat the spread of the Coronavirus and operations could continue regardless of the situation.
However, such building practices have long-lasting benefits related to speed, efficiency, and more. Therefore, an increased adoption of off-site components is expected in the post-crisis world.
- Green Building and Sustainability would become more Significant than Ever:
The government would be integrating sustainability plans in the pandemic recovery plans to strengthen the economy and ecology for the next crisis.
Activities and investments in this direction are expected to increase in the long-term, eyeing the situation of current economical and ecological imbalance scenarios.
The construction industry had been anticipating upcoming disruptions for the past many years. Yet it couldn’t catch the momentum gained by the massive turbulences characterized by the Coronavirus, which is why it faced a downfall. Now, the industry can only emerge stronger if it devises suitable plans for recovery and beyond.
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