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A Study on the Competitiveness for the Diffusion of Smart Technology of Construction Industry in the Era of 4th Industrial Revolution

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  • Baul Lee

    (Department of Civil and Environmental Engineering, Yonsei University, Seoul 03722, Korea
    Construction Industry Innovation Division, Korea Research Institute for Construction Policy, Construction Financial Building, 15, Seoul 07071, Korea)

  • Seung-Kook Park

    (Construction Industry Innovation Division, Korea Research Institute for Construction Policy, Construction Financial Building, 15, Seoul 07071, Korea)

Abstract

The fourth industrial revolution (4IR) is bringing about enormous changes in various aspects of the construction industry. This influence is emerging as a smart technology and is regarded as a productivity innovation in the construction industry. In addition, several countries are attempting policies to diffuse technological innovation into various industries, such as those related to legal systems, investments, and additional markets. These policies commonly have the intention to encourage various industrial factors that are related to smart-construction competitiveness. Therefore, this study analyzed the competitiveness from an industrial perspective to revitalize smart technologies in the construction industry. For this purpose, the acceptance of innovation within the Korean construction industry (KCI) was reviewed through diffusion-innovation theory, and then competitiveness factors were driven by the literature, based on Porter’s diamond model. Factors are measured by the contractors who utilize smart technologies, analyzing the competitiveness priority and differences between them. The main finding is that the “Demand Condition” is the most important industrial competitiveness for embedding smart technology in the early stage of construction industry. Moreover, to reduce the risks related to developing technologies, it suggested that distinct policies are required in accordance with the contractors. These findings are going to be helpful for policy makers as references for developing policies to embed smart technology in the construction industry.

Suggested Citation

  • Baul Lee & Seung-Kook Park, 2022. "A Study on the Competitiveness for the Diffusion of Smart Technology of Construction Industry in the Era of 4th Industrial Revolution," Sustainability, MDPI, vol. 14(14), pages 1-20, July.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:14:p:8348-:d:858015
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    2. Deng, Wenyueyang & Zhang, Zenglian & Guo, Borui, 2024. "Firm-level carbon risk awareness and Green transformation: A research on the motivation and consequences from government regulation and regional development perspective," International Review of Financial Analysis, Elsevier, vol. 91(C).

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