One thing is clear: Silicon Valley is high on the future of construction technology. Realizing there are potentially billions of dollars at stake, these tech titans are betting like never before on everything from user-friendly apps to virtual reality.
How big? Construction-technology firms grabbed up $10 billion in investment funding from 2011 through early 2017, according to the McKinsey Global Institute. Investors are showing strong interest in mobile and cloud-based collaboration platforms, online marketplaces for equipment and building materials, and solutions leveraging drones and AR/VR. Innovative start-ups are honing in on new applications and tools to radically change how construction companies design, plan and execute projects.