The construction industry is a powerhouse, adding
more than $900 billion to the US economy in the
first quarter of 2020, then disaster struck.
COVID-19 caused a massive slowdown claiming
almost a million jobs and over $60 billion of revenue.
Obviously, companies exposed to COVID-19 affected
segments were hit harder, but that wasn’t the only
determination of weathering the storm. Companies
that could react to the changing realities on the ground
through capitalizing on advancements in technology to
meet the needs of a diminished workforce and lower overhead
costs seem to fair much better. While this wasn’t the only
factor, there are significant trends occurring in the
industry and much room for optimism.