If ever there was a siren song calling the name of the construction industry, it’s urban sprawl. The industry is well-positioned to take on the challenge: according to StartupAUS’s recent report on ConstructionTech, “construction employs 1.1 million Australians — more than five times as many as the mining industry” and accounts for 8.1% of the nation’s GDP. And with innovations in safety, BIM, machine learning, and 3D printing, the ACE sector is creating the technological capability to capitalise on the opportunity.
The potential financial impact of technological innovation in construction is also enormous: StartupAUS notes that “BCG estimates that global full-scale digitisation in nonresidential construction could lead to annual cost savings of US$0.7-1.2 trillion (13% to 21%) in the engineering and construction phases … Extrapolating to the Australian construction sector, the potential added value increase could be $25 billion year on year within the next decade.”
It naturally follows that the fastest-scaling construction, engineering, and architecture companies are adopting technology to streamline their workflows, maximise resources, and capitalise on the rich opportunity generated by population growth. One such technology is achieving wide adoption across the ACE vertical: aerial imagery.
In particular, Nearmap’s aerial imagery has become an integral part of the workflow for 14 of Australia’s top 20 construction companies (by revenue), providing a reliable source of unbiased truth about what’s happening on site. With high-resolution captures of 88% of Australia’s population up to six times a year — covering more than 535,000 square kilometres — Nearmap allows ACE businesses to instantly understand what’s happening on their sites and make data-driven decisions that have a measurable impact on efficiency and outcomes.
Aerial imagery plays a specific role during each part of the building development lifecycle.