3 Things Construction Firms Can Be Thankful For This Year
As Memphis construction attorneys, we often cover many of the most pressing and stressful issues plaguing contractors, construction firms, roofing companies, and other businesses within the construction sector. This includes topics like breach of contract, construction defect defense, OSHA defense, and litigation and arbitration. We discuss these important legal topics because we want to mitigate these issues for our clients and help them grow their businesses.
We are always thankful for every potential client that picks up the phone to call us. We’re also proud to offer our existing clients the opportunity to enjoy full access to an affordable monthly subscription plan. With the holiday season upon us, let's discuss a few more things a Memphis construction attorney is thankful for this year.
1) A Strong Economy
The Great Recession that hit us over a decade ago was devastating to the majority of roofing and construction businesses. Although a labor shortage is still a pressing issue, construction industry growth remains impressive through 2019. Here are a few areas of construction that are seeing impressive growth:
Renewable Energy: As the fastest-growing source of energy in the U.S., renewable energy has increased in use by over 60 percent since 2000. Some experts project that it will make up as much as 20 percent of U.S. electricity generated by the end of 2020.
Residential Construction: With the American population continuing to increase, the number of residential construction projects continues to grow in 2019. After six years of steady growth, the housing market continues to see an increase in demand in the majority of markets throughout the country.
Megaprojects: Large-scale development projects remain one of the most relevant storylines within the industry in 2019 with well over a dozen megaprojects taking place across the country. Several of the largest cities in America are seeing significant changes to their infrastructure.
With the industry booming, experts remain confident that construction opportunities will continue to grow at a rapid rate in 2020 as the construction sector’s output is set to topple the trillion-dollar mark.
2) Amazing New Technology
Along with amazing industry growth in the vast majority of construction sectors, we are also entering a fascinating new age of technology that will be utilized on projects now and into the future. Often stereotyped in the past as an industry that takes on projects in an antiquated way, construction industry practices are evolving with groundbreaking technology and innovation like never before. Some recent breakthroughs, include:
Autonomous Technology: One of the most fascinating areas of construction technology, this highly advanced form of robotics can meet the labor demand on the jobsite and perform work with precision at a record pace. Autonomous technology can also mitigate safety risks.
Cloud Technology and Revolutionary Software: The newest cloud technology allows all the key members of a project to access information anywhere at any time. Cloud systems also promote real-time collaboration to ensure seamless progress on projects. Cloud technology can be utilized for a variety of complex projects with intricate designs, including 3D printing technology, building design and building information modeling (BIM), computer-aided design (CAD) modeling, and more.
Superior Processes: Many of the above technologies are creating improved building processes, resulting in contractors taking on and completing projects faster than ever before. Whether it’s utilizing state-of-the-art materials or new building processes, such as accelerated bridge construction, the construction industry is entering a golden age that features amazing technology and innovation.
3) Impressive Safety Practices
Technology isn’t only meeting the labor demand, it’s also reducing safety risks and providing construction firms with more measurable data than ever before. Some common advancements in safety over the last few years, include:
Wearables: From body sensors to tracking devices and smartwatches, construction firms now have access to a myriad of amazing wearables that can monitor the productivity, health, and safety of their workers in real time. As this technology continues its rapid evolution, we will soon see bodysuits, exoskeleton suits, smart hard hats, and digital eyewear on jobsites.
Drones and Rovers: Whether it’s performing a safety inspection or assessing the progress of a project, drones and rovers are providing contractors with a bird’s-eye view of the jobsite and allowing them access to every nook and cranny. What’s truly impressive is that these technologies are doing a lot more than just capturing beautiful imagery. For example, “lidar-equipped” robots can scan an entire site with laser-based surveying technology and then send this data through cloud technology to be analyzed by contractors.
Virtual Reality: Of course, the above technology can contribute to utilizing virtual reality (VR) technology in construction for project planning and safety measures. Architects and contractors can take a tour through their own building plans digitally and determine if any adjustments are needed to the design before breaking ground. Similarly, workers can take a virtual tour of the project before they step foot on the jobsite and equipment operators can be trained on special machinery before accessing it.
Partner with a Construction Attorney in 2020
As we near 2020, construction firms and roofing companies should look forward to the opportunity to work on a variety of new and exciting projects utilizing the latest technologies and innovations of today. Of course, when you partner with a Memphis contractor lawyer, you know your best interests are protected. For OSHA defense, contract review, litigation defense, or valuable legal counsel, consult the Memphis contractor lawyers at Cotney Attorneys & Consultants.
If you would like to speak with a Memphis construction attorney, please contact us today.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.