People’s choice for a lifestyle is every evolving. Especially, where they wish to stay at and what do they wish to purchase are two common behaviors that is linked to changing economic and social conditions. Both manufacturing and construction industry saw highs and lows in 2015, with landmark opportunities to scale new heights in 2016. There are several trends in these particular sectors, which could impact consumer behavior and the industry in itself this coming year.
These factors are based on changing customer preference, robotics & technology, security concerns, e-commerce & internet marketing, rise in commercial buildings, manufacturing plant construction, green initiatives, single-family apartments etc. Here are some key trends in real-estate building and manufacturing industries.
Greater Employment Facilities
Expenditure on non-residential buildings in 2015 was about $360 million, which may increase in 2016 to $390 billion. This trend has decreased unemployment in housing industry. As per construction reports, more employees are required to fight labor shortages in new building projects. Be it on the site, headquarters, or warehousing of raw materials, manual force is needed as much as robotics.
Advanced Robotics
Technology has implanted its seeds in every market segment, including manufacturing and housing. Especially in construction, where labor force is needed at a great strength, the growing need of robotics is manifold here. And successfully, software and mechanics are developed to replace human force in several small and big activities. This trend is also true in manufacturing and production sectors.
Better Security Online
E-commerce has caught up with housing and manufacturing sector. While it were just the developed nations which utilized internet marketing, now developing nations, especially from Asia and Africa are also using this technique. In such a measure, security online has become important to protect against cyber crimes. According to Indian construction industry spectrum, manufacturing and real-estate companies are deploying modern cyber security methods to safeguard from online theft and hacking.
Go Green Efforts
The green building materials in U.S. market was worth &43.8 billion in 2014, and $40.0 billion in 2013. The recent construction reports state annual growth for U.S in 2014-2019 is 9.5 percent, and shall top $69 billion in forecast period. Consumers prefer green materials as these consume low energy, are eco-friendly, and sustainable items for a healthier home or office environment. These items perhaps a way bit expensive, are useful for a better lifestyle in many ways.
Strengths and Threats
As we have discussed about the major trends in housing and manufacturing industry for 2015-2016, it is important to note the strengths and threats to both these sectors. A challenge to real-estate is roping in young customers, especially from developing nations. In the Indian construction industry and that of the world, the purchase of houses is done by people over 60 or after 30. Trend for home upgrades and renovations are also leading the housing market.
· With quality and facilities come greater spending. Thus, investment and money availability are both challenge and strength for real-estate and manufacturing segments. People are now ready to pay for class services, yet many find it difficult to pay for the same.
· Strengths in manufacturing and housing industry is greater outlets on the internet, making it easier to reach desired customers, more knowledgeable and skilled industrialists, use of technology in securing consumer needs, assisting the supply cycle.
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