By Martin Holmgren, General Manager, Trimble-Building Construction
Martin Holmgren
Focus on Complex Projects Requires High Accuracy for Construction Execution and QA/QC
The cost of capital increased throughout 2022, leading to longer decision times for both new projects and capital investment into new technologies. Parts of the construction industry are more heavily impacted by this, primarily residential and retail construction where we expect a slowdown in 2023 and 2024.
On the flip side, we see an opportunity for continued strong interest and investment into other areas of construction that are incentivized by the $1.2 Trillion infrastructure bill and the $280 Billion CHIPS and Science Act. These initiatives are driving building construction investment into areas like infrastructure, hospitals, and semiconductor processing facilities but we are also seeing strong economic indicators for areas related to electrical cars, batteries, and even if there is a bit of a slowdown, we see a continued strong investment in data center construction.
