The Indian construction sector is witnessing a gradual shift towards advanced technologies, with the precast construction market growing steadily. As of 2022, precast construction accounted for only 2-3% of the market share, a figure significantly lower than conventional methods. However, with the government’s push for faster project completion, the adoption of precast technology is expected to rise. Developers are investing heavily in infrastructure to adopt these innovative solutions, offering greater flexibility and customization in meeting structural requirements.
In parallel, the integration of wearable technology and artificial intelligence (AI) is revolutionizing the sector. AI-driven platforms like Colliers’ in-house system “CoGence” are automating construction management tasks, improving project planning, and enhancing communication across teams. These technologies help streamline processes, leading to more efficient resource allocation and time management.
Additionally, drone technology is increasingly being used to monitor construction sites, conduct surveys, and inspect projects in real time. Drones improve visibility and accuracy, offering a cost-effective alternative to traditional methods of site inspection.
The combination of these technologies signals a promising future for India’s construction industry, with greater efficiency, reduced costs, and faster project timelines. Over the next decade, these innovations will drive substantial growth in both the real estate and construction sectors.
