05 Jul Which traditional industry is Tech disrupting next in Europe?
According to Sifted, tech innovators have a growing interest in the construction industry in Europe – It helps that construction is a huge market of close to 2 Trillion Euros just in Europe. It accounts for 9% of Europe’s GDP, employs 18 million people and is also one of the least digitalized industries in Europe.
Apart from the market size, tech and digital transformation in this industry is relatively untapped and viewed by founders and their investors as a ‘sleeping giant’.
The prominent challenges faced by the construction industry are noted to be productivity, waste management and costs.
Venture funding in construction tech has just crossed the $10 Bn Euro mark, shared by Patric Hellermann, general partner at Foundamental (Construction Tech Investor), an indicator that it is likely to break beyond $50 Bn or more in the next 2 to 3 years.
At NAOS International, we have been actively recruiting for clients in the Tech industry in Europe to capitalize on these opportunities. Reach out to our Senior Consultants in France for advise on your talent strategy.