Industry Background

Wide Spread Waste and Inefficiency

The nearly $600 billion US construction industry is riddled with inefficiency

  • 20%-50% waste in coordinating labor and in managing, moving and installing material
  • Losses of 15.6 billion per year to due to the lack of interoperability
  • Transactional costs of $4 – $12 billion per year to resolve disputes and claims

 

Little Innovation or Productivity Gains

  • There has been little innovation in the construction industry – most developers are still building brick-by-brick nail by nail.
  • The construction industry is dead last in IT spending vs. 19 other categories
  • The construction industry is plagued by lagging productivity over decades while other industries have increased productivity