Why We’re Excited About the Construction Industry in 2020
Guest contributor – Tim Boyle, Co-CEO of Whip Around
The construction industry has always been a litmus test for broader economic performance, with residential and commercial building activity reflecting demand for the end product as well as the availability of capital to developers. Infrastructure spending underpins future sentiment and invests in the economy long term, improving the outlook for many industries that rely so heavily on improved facilities for road, rail, air and sea connectivity.
All of this is boding very well for the construction industry, with a recent survey undertaken by the Associated General Contractors of America (AGC) clearly pointing to widespread positive sentiment across the construction industry. With over 680,000 employers and 7,000,000 employees building over $1.3 trillion in structures each year, the industry plays an important role in the American economy.
However, growing pains always come with continued growth, and a shortage of skilled labor made it to the top of the list for 81% of survey respondents. Demand for raw materials pushing prices up, capacity for key suppliers and bureaucracy are all contributing to longer projected delivery timelines for the year 2020. Furthermore, the industry also has a higher sensitivity to health and safety with many interacting elements between vehicles, labor, equipment and busy worksites often in live environments such as highways or airports.
Operators in the sector are looking for ways to optimize process efficiency, minimize unnecessary costs and leverage technology to improve safety and performance of key areas of their business. Most survey respondents said they were looking to adopt labor-saving technologies, with 46% intending to increase their budgeted spend in technology this year.
This is an industry that’s growing fast, is focused on investing in technology to improve efficiency and has a foundation of safety at its core. Whip Around is a company focused on delivering efficiency to companies with dispersed assets, connecting teams, reducing downtime, and reducing unplanned maintenance and repair costs, all with a foundation of improving safety. That is why we are excited about the construction sector heading into 2020.
Over the last few years, we have worked with some household names in construction, and we are proud that this industry segment makes up a large portion of our customer base. We know the problems our customers face are the same as the wider industry’s, and we are solving them already. Technology can eliminate many of the handoff points currently sitting within daily processes. Whether it’s DVIR requirements for vehicles, or JSA documentation for OSHA, it all comes with a high cost when your processes are paper-based or reliant on inefficient technology.
We are setting about helping construction companies overcome some of these challenges, giving them back as many person-hours as we can by streamlining their inspection, compliance and maintenance processes with simple, intelligent mobile technology.
We hope to see you at next month’s World of Concrete in Las Vegas, CONEXPO-CON/AGG in March, and many of the other local association and chapter events we are supporting this year. We are excited about what 2020 will bring our customers and partners, and hopefully, we can be a part of it for you.
Why not get a feel for what it’s like to take control of fleet inspections and maintenance with Whip Around – get free access and check it out for yourself.