Though built industries, specifically construction and real estate, have been commonly categorized as slow to adopt new technologies, we’ve started to see glimpses of optimism in recent years. Early adopters entered the scene as point solutions came to market, from newer software systems solving the pitfalls of massive ERP suites to BIM-related services bringing 3D modeling onto the jobsite and into the building maintenance process. But with these smaller, more targeted solutions, it can be difficult to garner mainstream attention.
Broadly, the built industries have not received much attention when it comes to investment reporting, but this largely changed in 2017 and 2018. Let’s take a step back and think about where these industries sit within the broader economy to add some context. According to data collected from the Bureau of Economic Analysis (BEA), the built industry accounts for around 27% of GDP each year. In addition,…