Cloud technology has become an essential differentiator for many of the construction industry’s top firms, and it is no wonder: cloud solutions offer powerful flexibility when it comes to data storage and analysis. Specifically, the cloud makes it possible for construction firms to maintain a single, reliable database that is easy to access from both the field and the office. Considering that the construction industry remains one of the least digitized sectors, firms gain a major advantage with cloud adoption.
The benefits of cloud technology are not exclusive to construction, however. Across all industries, use of the cloud is widespread and on the rise, In fact, by 2020, it is expected that cloud spending will reach an estimated $200 billion, according to IDC. Contributor Louis Columbus rounds up an assortment of recent studies in his Forbes Roundup of Cloud Computing Forecasts. He points out one particularly impressive finding from a 2017 BDO Technology Outlook Survey, which found that 74% of CFOs said cloud computing will have the most measurable impact on their business in 2017. The Internet of Things (IoT) came in a close second, with AI, 3D printing, virtual reality and blockchain technology falling far behind. While all these technologies are promising, cloud computing is proving itself the most useful across industries.
In the construction industry, the cloud has helped firms store and manage the massive amounts of data that construction projects generate. In the past, there was no way for contractors to make use of all past and current project data.