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Finnish companies can offer innovative solutions for the construction market in the US

04.01.2019
It is not exaggeration to say that we are on the edge of a revolution, especially in the engineering and construction market. Construction resources in smart construction – materials, machinery, and devices – will experience massive growth in digitization of processes and applications.

The construction industry has traditionally been very conservative — slow to innovate and unsuccessful at boosting productivity. However, many companies have recently embarked on a new makeover, specifically by exploiting digital technologies.

Key drivers in this trend is growth in both the global smart cities and smart building markets. As far as future construction in the USA, forecasts predict sharp upward trends in both residential and nonresidential construction markets all the way through 2022, thus presenting potential growth areas for smart construction technologies. 

The Finnish 'Proptech' (property technology) ecosystem is proactively supporting the digitization of construction industry processes and applications, and Finnish companies can offer innovative solutions to the USA's construction market.

Companies and sectors benefiting from this opportunity

The new strategy is extremely interesting for Finnish companies in the following sectors:

  • Building Information Modeling (BIM)
  • Green Building
  • Advanced Building Materials
  • Wireless Monitoring Companies
  • 3D Printing & Additive Manufacturing Companies
  • Autonomous Equipment Systems; Drones and Robotics

Team Finland activities available for Finnish companies

Team Finland USA will organize workshops in Finland as well as webinars to introduce Finnish Companies to the US 'Proptech' cluster, primarily in the states of California and New York.

There will also be funded Nordic Smart Cities Delegations to Houston, Texas, and Greater Minniapolis, Minnesota, Metro Area during 2019.

Other activities available:

  • Nordic Countries booth at NYC Real Estate Tech Week 2019 (November)
  • Advice cases introducing select Finnish companies to accelerators and evaluated consultants in select markets - e.g., California, New York, etc.

Contacts

For more information, please contact michael.lovejoy@businessfinland.fi and veijo.komulainen@mfa.fi .

Read more about this opportunity

The innovations so far have occurred mainly in the early and late phases — design and engineering, and operations and maintenance — rather than in the actual construction phase. But that phase too will soon see some drastic changes. The elusive productivity boost will finally happen, thanks to building information modeling (BIM) and other collaboration tools, and construction sites will be modernized dramatically by digital fabrication technologies — brick-laying and tile-laying robots, for example; automated cutting, milling, and assembly of timbers; a digitized supply chain; automated prefabrication, and 3D printing."

The US provides great potential for foreign companies entering the [BIM} market because it is expected to continue its growth path over the next years.

 

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