The future of infrastructure and construction will be shaped by the convergence of a number of key factors. These will include increased use of technology, digitalization, and automation; new materials and techniques; smarter, more sustainable infrastructure designs; greater collaboration among stakeholders in the industry; and evolving regulations.
To stay competitive and ensure success in their projects, decision makers must be able to anticipate these changes and leverage them to their advantage. This means taking a proactive approach to gathering insights from multiple sources, including government data, industry reports, market research and customer feedback, in order to gain a greater understanding of individual needs as well as wider system-level opportunities.
Equally important is the need for construction professionals to remain agile in response to changing trends. This means having the knowledge and skills to quickly adapt processes and technologies as needed, in order to take full advantage of new materials and techniques, more efficient design solutions, and other emerging innovations in the field.
By staying ahead of these key trends and learning how to proactively use them to their benefit, construction professionals can ensure they remain competitive while also contributing to a better future for infrastructure. Furthermore, by taking an agile approach to decision-making and implementation, they can help drive positive change throughout the industry. With the right strategies in place, the entire infrastructure sector has the potential to benefit from continued growth and success.
The shift to net zero infrastructure
This year, the industry’s focus on net zero will grow exponentially. It is anticipated that companies who don’t engage with this shift will be at a disadvantage. For example, suppliers may find themselves frozen-out of tenders if they cannot evidence their net zero efforts. Additionally, private capital is likely to flow into promising technology solutions, and businesses compete for climate talent.
As we work to achieve net zero, we must also focus on developing infrastructure that can withstand the effects of climate change. Not only is infrastructure a leading contributor to man-made climate change, but it will also be hit the hardest by its effects. The costs to fix, protect and relocate infrastructure will rise steadily through 2023 and beyond as governments try to keep essential services running.
Fortunately, there is evidence that making new assets more sustainable or old assets more resilient does not have to cost extra and can even improve bottom line results. However, it does need to be done differently than usual.
What’s changing in infrastructure for 2023?
A change in mindset is necessary, and it appears to be happening. In the next year or two, expect businesses to increase their investment and activity related to climate change. Businesses with a plan to reach net zero emissions will succeed while those who don’t address climate change will fail.
There is no doubt that infrastructure plays a vital role in our daily lives. It is the backbone of any economy and its importance will only continue to grow in the years to come. Here are three key trends that we think will shape infrastructure in the next five years:
1. An increase in spending on community social infrastructure
In recent years, there has been a growing focus on the importance of social infrastructure, such as healthcare and education facilities. This trend is set to continue, with governments around the world allocating more and more resources toward these types of infrastructure projects. As society evolves and becomes more interconnected, the need for quality community social infrastructure is becoming increasingly clear. This means that investments in public spaces, such as parks and playgrounds, libraries and cultural centres, are on the rise.
The construction industry has responded to this trend by making greater investments in these types of projects. Companies are now implementing new strategies to make sure they can effectively manage these complex and large-scale building initiatives. These strategies often involve cutting edge technology and materials, as well as collaboration between multiple stakeholders – from private companies to governments – to ensure high standards of construction quality and safety.
This increased focus on community social infrastructure has already had a huge impact on the construction industry as a whole. Not only are these investments leading to better public spaces and services but they are also providing much needed employment opportunities in the sector. With more jobs being created in this area, many communities across the world are now benefiting from improved access to quality housing and other amenities.
As investment in community social infrastructure continues to increase, it’s clear that the future of construction is changing rapidly. With new technologies being developed every day and dedicated funding sources becoming available, construction companies can now look forward to taking on more ambitious projects that will bring greater benefits to communities around the world. The future of construction is bright, and more investments in community social infrastructure are sure to be a pivotal part of this new landscape.
2. Increasing focus on making new infrastructure assets more sustainable, and existing infrastructure assets more resilient
Sustainability and resilience are two of the most important issues facing infrastructure today. With the effects of climate change becoming more and more evident, it is crucial that we find ways to make our infrastructure assets more resistant to extreme weather events. At the same time, we need to be able to reduce the environmental impact of infrastructure projects.
Advances in sustainability and resilience are ushering in a new era of construction. With an emphasis on environmentally friendly practices, recycled materials, renewable energy sources and durable building standards, this shift towards sustainable infrastructure is also benefiting future generations. As experts continue to develop innovative ways to reduce the environmental impact of construction projects and make existing infrastructure more resilient against environmental hazards, it’s clear that the industry is moving towards a greener future.
This movement has been made possible through increased technological investment from governments and private entities alike. Smart technologies like IoT-enabled sensors are being used to monitor conditions onsite and optimize construction processes for greater efficiency. Additionally, investments have been made in improving the sustainability of construction materials such as steel, concrete, timber, and plastics. By utilizing materials that minimize the waste of raw resources and are designed to last longer, construction companies can achieve their sustainability goals while reducing long-term costs.
The economic benefits of green infrastructure should not be overlooked either. When energy efficient buildings are built with renewable energy sources like solar or wind power, they become cost effective investments for businesses and homeowners alike. In addition, resilient infrastructure that is able to withstand natural disasters can help reduce insurance premiums for homeowners in risky areas. These economic incentives will continue to drive progress in sustainable construction practices as the industry moves towards a more environmentally conscious future.
3. Continued investment toward digitisation of resilient infrastructure
One of the most significant trends in infrastructure over the past few years has been the increased investment in digital technologies. This trend is set to continue, as digital infrastructure becomes more and more important in our increasingly connected world.
The move toward digitisation of resilient infrastructure is enabling a new level of efficiency and accuracy in the construction industry. By leveraging digital solutions, such as Building Information Modelling (BIM) and Computer Aided Design (CAD) software, projects can be completed faster, with less human labour required to manage them. This means that projects can be completed more quickly, saving both time and money. Additionally, these digital tools allow for greater precision in how things are built; this helps reduce errors during construction which can lead to significant cost savings down the road. Furthermore, with digital solutions come new opportunities for collaboration between teams on different project elements; this could further enhance project outcomes by allowing stakeholders to work together more effectively.
Ultimately, the continued investment toward digitisation of resilient infrastructure is helping to shape the future of construction. By leveraging digital solutions, projects can be completed faster and more efficiently than ever before. This means that there are more opportunities for savings on both time and money, while also providing improved accuracy in how things are built. Furthermore, collaborative working across teams will become easier with digital tools; this could further enhance project outcomes by allowing stakeholders to work together better. As a result, the move toward digitisation of resilient infrastructure is changing the construction industry for the better.
The future of infrastructure is likely to be one of greater collaboration between public and private entities. This increased collaboration could enable more efficient use of resources and enable the sharing of best practices across a variety of jurisdictions. Additionally, it will make possible the delivery of innovative solutions that can meet the needs of an ever-changing infrastructure landscape.
The increased utilization of technology has already had a positive impact on the construction sector, allowing for faster turnaround times and improved accuracy in project completion. As technology continues to evolve, so too will the potential applications within the industry. Automation, cloud computing and artificial intelligence are all expected to have far-reaching impacts on how construction projects are managed and delivered in the years ahead.