Is Your Construction Company Ready for the Big Data Revolution?
The construction industries of the UAE and other Middle Eastern nations are experiencing a notable transformation driven by the increasing adoption of advanced technologies by the leading companies in the sector. The latest 2022 PwC Middle East CP&I survey marks a significant turning point for the region’s construction industry, with technology adoption crossing the 50% threshold for the first time in 2022. Applications of Big Data (41%), Drones (33%), and Digital Twins (17%) emerged as the most widely used modern technologies, delivering substantial improvements in efficiency, error reduction, safety, project planning, and execution.
In today’s post, we will discuss the role of big data in transforming the UAE’s construction industry and beyond. Meanwhile, you will also learn about the leading data analysis platform that you can use to leverage the power of big data in construction and outmanoeuvre the competition.
The Big Data Revolution in the Construction Industry
The collection of datasets is known as big data, which is enormous in volume and also keeps growing exponentially in the horizon of time. Big data in the construction sector allows the analysis of vast datasets to understand key market issues, assess growth potential, make data-driven decisions, solve problems with the power of data, etc. Companies of all types and sizes can benefit from big data. For example, contractors can use the power of data to bid more accurately. Builders can use data to mitigate risk and complete projects on time. Suppliers, on the other hand, can leverage the power of data to generate sales leads and get new customers ahead of their rivals.
Construction Boom and Wide Adoption of Cutting-Edge Technologies in the UAE
COVID-19 affected the construction market’s growth in the UAE, particularly in Dubai. However, the ambitious vision and collaborative efforts of government, policymakers, and business tycoons ensured that the interruption in growth didn’t last long. The market eventually took an upside trend in 2022, and now it is estimated at USD 40.88 billion in 2024, expected to reach USD 51.80 billion by 2029. UAE’s construction market is likely to grow at a CAGR of 4.85% during the forecast period from 2024 to 2029.
Along with growing the construction market, the UAE also uses modern technologies to fuel and sustain its growth in this sector. One prime example of it is Dubai’s Museum of the Future, a landmark devoted to revolutionary ideologies and hi-tech innovations.
The construction sector, encompassing developers, contractors, and suppliers, actively embraces advanced technologies to tackle diverse challenges and manage various tasks. PROJECT INTEL is one such technology-driven, cutting-edge tool you can use to make the most of big data in construction in the UAE. Using our real-time construction data analysis platform, you can track over 6,275 UAE projects worth over $580 Bn.
UAE’s every major construction project is listed in our platform and segmented by sectors and sub-sectors to help users quickly find their niche of interest. From commercial to residential and industrial to institutional, you will find all types of construction intelligence data on our platform.
Request your free trial now and get access to data for ten construction projects or companies for one month. You are only a few clicks away from unlocking your full potential.