Information technologies and construction sector: Why construction loses competition for innovations to other industries?

Abstract

Over the last 10 years investments into innovation made at the beginning of 2000s resulted in significant growth not only in separate industries but in global economy as a whole. The development of digital technologies significantly reduced the costs of advance technologies, which made them affordable to a wide range of consumers. Using new tools and methods for interaction of social and economic subjects became a real accelerator of rapid growth for some industries such as media, information and communication technologies or finances. However, no significant innovative changes occur in the construction sector despite a generally acknowledged important role in the economy of both separate countries and in global economic processes. The article considers the factors that have an effect on the digital transformation of construction industry, the peculiarities and problems of this process.