Periodic Reporting for period 1 - SmartBuild (A real-time adaptive projected augmented reality of 3D blueprints on top of the physical construction site that improves both productivity and safety)
Reporting period: 2019-02-01 to 2019-06-30
Superficially, the construction industry would seem healthy enough. The global market is worth more than $10 trillion. According to Euler Hermes, an insurer, a 3.5% growth is expected this year. Yet more than 90% of the world’s infrastructure projects are either late or over-budget, according to a 2017 paper by Prof. Bent Flyvbjerg of Saïd Business School at Oxford University. An example is Apple’s new headquarters in Silicon Valley that opened two years behind schedule and cost $2bn over budgeted. Smaller projects have similar woes. It is estimated that 60% of buildings and construction projects are late, with the main reason is rework of errors. That’s where LightYX technology comes into play.
Between the years 1945 and 2005, the productivity in the construction industry has grown a meagre 6%; only a small fraction of the growth that happened in similar industries, such as manufacturing. This is about to change as the market for the digitalization of the construction eco-system is growing exponentially from $24 Million in 2006 to $480 Million in 2017 at a growth rate of 31% per year and is expected to be over $5.8 Billion by 2025 according to Mckinsey. In addition, a recently published international standard (ISO 29481) for digital Building Information Modeling (BIM) is going to disrupt the construction industry as they will be mandatory by 2020 in several leading European countries.
The objective of the work presented, was to assess the needs and requirements of the market and to validate the suggested solution by Lightyx.
Between the years 1945 and 2005, the productivity in the construction industry has grown a meagre 6%; only a small fraction of the growth that happened in similar industries, such as manufacturing. This is about to change as the market for the digitalization of the construction eco-system is growing exponentially from $24 Million in 2006 to $480 Million in 2017 at a growth rate of 31% per year and is expected to be over $5.8 Billion by 2025 according to Mckinsey. In addition, a recently published international standard (ISO 29481) for digital Building Information Modeling (BIM) is going to disrupt the construction industry as they will be mandatory by 2020 in several leading European countries.
The objective of the work presented, was to assess the needs and requirements of the market and to validate the suggested solution by Lightyx.
LightYX has developed a prototype for a technology that communicates the construction blueprints to the field worker in a revolutionary visual way allowing the worker to follow it and work accordingly. The technology also monitors construction quality and progress compared to the virtual design plans. Its purpose is to ensure that construction workers can correctly implement 2D and 3D construction plans on the first go, whilst managers are able to continuously monitor the implementation process.
The goal of this project was a feasibility examination of a fully functional prototype, in a construction site alongside with a comprehensive business plan as detailed in the “Description of work section” of the approved proposal. To accomplish this goal, the company have established pilots with leading construction companies and tested the technology, while at the same time received real time feedback from key players in the industry.
The goal of this project was a feasibility examination of a fully functional prototype, in a construction site alongside with a comprehensive business plan as detailed in the “Description of work section” of the approved proposal. To accomplish this goal, the company have established pilots with leading construction companies and tested the technology, while at the same time received real time feedback from key players in the industry.
The goals of the project were achieved. LightYX demonstrated a full prototype to its strategic partner Bouygues, one of the largest construction companies in Europe during the period of the SME phase 1 project, and is already trialing it on site with great success.
In this feasibility report we have identified the characteristics of the existing solutions used today and the limitations of each one of them. Based on the needs of the market, we have formulated the specification of the add-on and have redesigned the initial prototype to meet said requirements. In addition, based on interviews with leading key-players in the market, LightYX has identified that the ideal customer for the company. The entry usecase, and the onsite requirement, are different than the one initially targeted and therefore precipitated technology improvements including additional sensors, components, slightly different product architecture and definition to achieve the same goals.
Based on the work done during the SME Instrument Phase 1, we believe that this is the perfect time to enter the market as the market for the digitalization of the construction eco-system is set to grow hyperbolically as mention in the Mckinsey report above.
In this feasibility report we have identified the characteristics of the existing solutions used today and the limitations of each one of them. Based on the needs of the market, we have formulated the specification of the add-on and have redesigned the initial prototype to meet said requirements. In addition, based on interviews with leading key-players in the market, LightYX has identified that the ideal customer for the company. The entry usecase, and the onsite requirement, are different than the one initially targeted and therefore precipitated technology improvements including additional sensors, components, slightly different product architecture and definition to achieve the same goals.
Based on the work done during the SME Instrument Phase 1, we believe that this is the perfect time to enter the market as the market for the digitalization of the construction eco-system is set to grow hyperbolically as mention in the Mckinsey report above.