Building Technology In Practice: Insights from the 2024 Annual Report

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As the United States hones its focus on sustainability, sparked by public pressures, corporate incentives, and government regulations and policies (at various levels), the construction industry finds itself at the frontlines of technology and innovation to meet these evolving standards. BuiltWorlds’ recently released 2024 Annual Building Tech Benchmarking Report sheds light on the accelerating transition towards sustainable practices, particularly emphasizing the adoption, implementation and satisfaction levels of various building technologies. Drawing from primary survey data, this report reveals key trends shaping the construction, design and operational landscapes of buildings.

High-Performance Materials: Pioneering Sustainability

One of the standout findings of the report is the significant interest in alternative and high-performance building materials, with 74% of participants either specifying or utilizing them on their projects in some capacity. Low-carbon concrete emerged as the most widely used high-performance material, closely followed by wood alternatives such as mass timber. This underscores a notable shift towards sustainable construction practices, driven by concerns over carbon emissions and environmental impact.

Despite considerable interest, frequency of use was notably variable among participants, indicating that these products are largely still in the early days and not yet ready for wide-scale use.

To dig into this topic further, John Schaefer, Director of Capital Investments with Graycor Capital, Chris Stanley, Senior Managing Director of Development of MDH Partners, Marty Brennan, Principal with ZGF Architects, and Les White, Infrastructure and Sustainability Engineer with Cemex are set to discuss "New and Advanced Materials" at the Buildings Conference in NYC this May 22 - 23. The panel will highlight the planning, design, and construction of leading-edge net zero carbon projects that are being delivered by developers and corporations to meet the Federal mandates and corporate goals for carbon reduction.

For more information on their panel, view our recently released Q&A with the speakers!

Planning & Design Solutions: Embracing Innovation

The adoption of a dedicated planning and design solution across projects remains high, with over 70% of respondents incorporating these tools in some capacity. Benchmarking data reveals respondents are leveraging over 16 unique solutions, reflecting a diverse landscape of tech aimed at enhancing efficiency and design precision in construction projects.

How often does your company utilize a Planning & Design Solution_

For more information on the specific solutions being leveraged by the industry, see the 2024 Annual Building Tech Report and Planning & Design Tech Specialty Report!

Energy Systems/HVAC Technology: Investing in Efficiency

Venture investment related to Energy Systems and HVAC Technology is on the rise, as indicated by BuiltWorlds' Venture Dashboard 2.0, which highlights all venture and investment activity across Construction Tech, Building Tech, and Infrastructure Tech.

Similar to the interest in alternative green building materials, this surge in investment emphasizes the industry's commitment to enhancing energy efficiency and carbon reduction.

Tenant Services/User Experience Solutions: A Growing Frontier

While Tenant Services and User Experience solutions lag behind other technology types inquired about in BuiltWorlds' 2023 Building Tech Survey, with just over 30% of respondents regularly utilizing them, there is potential for significant growth in this area. As buildings become more interconnected and user-centric, the demand for technologies enhancing tenant experience is expected to increase, presenting opportunities for innovative solutions to disrupt the industry.

As such, contractors who are tasked with erecting net-zero and smart buildings will presumably become increasingly familiar with the various solutions available to increase occupant experience.

For more information on the specific solutions being leveraged by the industry, see the 2024 Annual Building Tech Report and Tenant Services / User Experience Tech Specialty Report!

Empowering Industry Insights

The BuiltWorlds Benchmarking Program serves as a valuable resource for industry stakeholders, offering empirically gathered data and insights to inform strategic decision-making. By objectively comparing adoption rates, identifying emerging trends, and highlighting potential partners, this program equips companies with the tools needed to navigate the evolving landscape of building technology.

Looking ahead, the Buildings Conference in NYC, May 22-23, 2024, will dive deep into the latest trends and innovations in building technology, fueled by BuiltWorlds benchmarking data and conversations with industry professionals leveraging these technologies daily