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UCSP615 Orientation to Graduate Studies at UMUC, University of Maryland Global Campus, USA

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Construction Industry

1. Introduction: As per the report of Business Insider (2016) construction industry plays an important role in the overall development of the country. Top trends in the construction industry are helping companies in gaining more income. The main issue faced by construction companies is related to the lack of skilled labours. The construction industry is mainly dealing with three important aspects that are preparation, construction and alteration of structures and facilities. Most of the government authorities are supporting the construction industry for improving the national income and infrastructural facilities. In this paper, we are analyzing the various aspects related to the construction industry and we are also considering top trends in the field of construction

Question: Introduce the industry, the top trends, the issue that you have chosen.

Answer: 2.1 Construction Industry Overview: As per the report of Forbes (2018) the global construction market is showing a positive trend and most of the companies are gaining decent revenue. The US, China and India are the powerful players in the construction market. All these countries are making changes to the tools and methods for building quality structures and facilities (Ball et al 2018, p.71). In terms of revenue and overall income, Chinese companies are dominating the global construction market. According to Thomas (2017) constriction industry is mainly divided into classified in to two major categories that is residential and commercial (Francis et al 2018, p.155). Now we can analyze the top trends in the construction industry in a detailed way.

2.2 Top Trends in the Construction Industry

1. Adopting Green Technology in Construction: Most of the construction based companies are giving more importance to adopting green technology in construction. It helps for managing the environmental issues and it also helps for attracting the customers. Due to the expanding population, we required more building and facilities. With the help of green technology, the companies can construct eco-friendly and emission-free buildings (Shen et al 2018,p.69).

2. Decreased Labor Force: In order for reducing the cost and for improving the overall income the construction based companies are using technology-based tools for managing the operations. They reduced the manpower and they are giving more importance to machines and robots for completing the construction process. 

3. Use of Drones: Most of the US-based companies are using drones for checking and inspecting the building in a productive way. By using drones, the companies can save time and cost for surveying the construction site. 

4. Application of Cloud and Mobile Technology: Most of the construction based companies are also using cloud and mobile technology for completing the construction process in a speedy way. Application of cloud and mobile technology also helps in storing various information in a productive way. 

2.3 Issue Faced by the Construction Industry: Lack of skilled labors is the major issue faced by companies. Skilled and competent employees are required for implementing new changes and practices 

3. Conclusion: The construction based companies has to adopt quality improvement strategies for retaining the customers in a effective way.

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