Feeling the pressure of 9 straight quarters with a decline in total revenue, Caterpillar has acquired the equipment sharing startup, Yard Club, to get help dig themselves out of the dirt. Their most recent quarter was the company’s first positive revenue quarter since November of 2012.
Yard Club is one of a few companies that have taken advantage of the rise of the “sharing economy,” allowing users to rent their idle heavy construction equipment to other peers. It’s truly a great concept, equipment is extremely expensive and any idle time greatly impacts the return on investment. Using web and mobile apps, the system gives companies an easy way to monetize and manage their fleet of equipment. For renters, it gives them more availability and competitive pricing for the equipment they need in a hurry.
Back in 2015, Caterpillar strategically financed Yard Club, for an undisclosed amount. The equipment giant needed only 2 short years for proof of concept before diving in head first. Caterpillar will now be able to profit off of one of the concepts that has led to a decline in new equipment sales in the past few years and it’s a step in the right direction in terms of technological advancement. According to Yard Club’s website, they helped manage over $120 million worth of equipment transactions across 2,500 construction professionals in 2016.
Full Story: Caterpillar acquired Yard Club, a marketplace for construction equipment | Tech Crunch
After a round of nominations, the stage has been set for the 5th annual Best Construction Podcast Competition presented by Construction Junkie. This year we have several familiar faces, as well as a couple new ones.
Even with the comprehensive collaborative environment that project management software, like Procore, provide, email is still a necessary evil for even the most technologically advanced contractor. Recently Procore announced new integrations with one of the biggest email providers, Microsoft Outlook, to help reduce redundancies and get all your information into one place.
[sponsored] In a world where construction is desperately seeking young people to fill the gaps of an aging workforce, it seems pretty obvious that someone should have come up with a way to incorporate video games into the construction process. Well, thanks to Buildfore’s CtrlWiz, someone finally has, and it allows users to manipulate 3D models within Navisworks with an Xbox controller.
Augmented Reality (AR) is often thought of as an interesting new twist on video games, but, in reality, it has some great potential for solving some common problems in construction. BigRentz, a construction equipment rental company, recently shared an infographic of 6 applications of AR in construction.
It’s that time again to begin Construction Junkie’s annual search for the best construction podcast! Now in our 4th year of the competition, it’s very clear that construction podcasts are gaining in popularity.
In November of 2018, Autodesk announced that it had acquired field productivity software, PlanGrid, for $875 Million. It was huge news for an industry that is finally starting to warm up to the use of technology on the jobsite. This morning, PlanGrid officially released their first integration into the Autodesk platform: PlanGrid BIM.
As smartphones and tablets are slowly becoming one of the most prominent and powerful tools on construction site, construction technology companies are still largely focusing on construction management firms and general contractors. What’s lost on many is the fact that there are dozens of subcontractors on every jobsite that also need to manage their projects.
Late last year, CAT Phones released their first ever smartphone on a US carrier network, the S48c. The phone is currently available on both the Sprint and Verizon Networks and I was recently able to test out the phone to get some better insight into how it operates. Overall, it offers the toughness to hold up to a jobsite at a reasonable price, but continue reading to hear about all of the details.
Tracking progress on any construction progress is an extremely vital step. Artificial intelligence is gaining popularity in the industry, as it can make sense of thousands of images or videos and place them into context. Before the AI can work its magic, though, all of those pictures and videos must be collected. That’s where robotics masters Boston Dynamics thinks they can step in with a robot they’ve been developing for years.
Fatigue on the jobsite is real, so much so that many technology companies have developed products to reduce fatigue and also sense when a worker is experiencing fatigue. There are other wearable devices, like exoskeletons, that can enhance a workers strength and stamina, but when you need to add more than a little punch, Construction Robotic’s MULE 135 may do the trick.