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What is ConTech?

12/05/2020

Studio Victoria

1 minutes

In our last article, we covered the topic of PropTech, part of an ever-growing list of buzzwords. Today we will talk about another word within that list: ConTech. With this article, we will answer the following questions: what is ConTech? and are ConTech and PropTech the same? If you are in the Construction sector, technology will help you to #ONEUPYOURBUSINESS.

WHAT IS CONTECH?

ConTech is an acronym for Construction Technology and means the use of Technology to increase efficiency in planning and building, reduce costs, and eliminate risks in the Construction sector. In the same way as Property Technology, most people use the term ConTech to refer to the startup companies that operate within this sector, but Construction Technology is more suitable for the technologies themselves.

Some of the technologies most frequently used are: 3D scanning, 3D Modelling, 3D Printing, Augmented Reality, Virtual Reality, Prefabrication, Data Analytics, Intercommunication between construction sites, Smart sensors, etc.

ARE CONSTRUCTION TECHNOLOGY AND PROPERTY TECHNOLOGY THE SAME?

This topic is always highly contentious and there are two schools of thought:

  • Those people that believe that Construction Technology and Property Technology are totally separate
  • Those who believe that they are the part of the same thing, with Property Technology encompassing Construction Technology

We believe the latter, that both are part of the same thing, and we consider Construction Technology to be a subset of Property Technology. It could be said that Property Technology would not exist without Construction Technology, since the latter makes the houses that the former will sell.

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