Tech startups today are setting the pace for the next great innovation in construction. In some cases, this could even impact how equipment is operated and managed on jobsites in the future.
Consider the case of ThingTech. The company is one of eight to participate in a spring accelerator program and combines devices, network connectivity and software applications. The end goal is to help its customers own and operate high-value assets.
Predicting Equipment Failure
Here’s where it really impacts construction: Assets, such as heavy equipment, that aren’t maintained properly will result in costly breakdowns and put the safety of workers at risk, according to the company.
However, with the Internet of Things (IoT), technology such as this can help with asset and maintenance management, preventing and predicting equipment failure using data analytics.
While this is only one example, many analysts are predicting that the IoT will be a disruptive force in many industries. For instance, ABI Research suggests that identity and management of things will surge in the year ahead. This includes technologies such as telematics, fleet management, and more.
For the construction industry, innovation such as this could help improve business processes and worker safety. Much of the technology is already here, although some tech-savvy startups are still thinking up the next great big idea.
