| 27th May 2004 - With an expected growth
in wireless data adoption and growing demand for
technology applications in the field, the construction
vertical is an upcoming opportunity for telecom,
IT and network services vendors, according to In-Stat/MDR
(http://www.instat.com). The high-tech market research
firm finds that this industry is transitioning from
a low-tech industry to one that is adopting wireless,
the Internet, and collaboration tools to improve
efficiencies, communications and overall project
management. |
|
This vertical, while not highly targeted in the near-term,
is expected to be a great opportunity for technology
vendors looking to expand their vertical market program
over the next several years or down the road. The major
opportunities lie around wireless data, Internet portal
services, and remote access to applications and project
scheduling programs at the main headquarters. However,
the construction industry will require cost justification
and return on investment on technology purchases because
of shifting priorities stemming from the sluggish recovery.
In targeting this specific vertical, telecom and IT
vendors must first understand the various parties involved
in major construction projects, then understand the
various operational and planning activities that are
required, and last be able to adapt solutions to meet
the varying challenges the construction industry is
faced with on a day-to-day basis.
A recent report by In-Stat/MDR also finds that:
- By year's end, the US construction market is expected
to support roughly 1.4 million firms and 6.5 million
employees.
- The most robust employment growth is expected
to occur in smaller firms.
- For the most part, decision-makers in the construction
industry are fairly optimistic about this year,
in terms of economic performance. In a recent In-Stat/MDR
survey, 61% of the decision-makers surveyed working
for construction providers indicated that they were
either "very positive" or "somewhat
positive" regarding their expectations for
the economy in 2004.
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