Why Procore Technologies Is a Top Investment for Forward-Thinking Investors
The construction industry is rapidly modernizing, and Procore Technologies (NYSE: PCOR) is at the forefront of this transformation with its cutting-edge software solutions. Its offerings are becoming increasingly indispensable as construction companies seek to streamline operations and improve efficiency. But what makes Procore such an attractive investment opportunity for savvy investors?
Here's why this company can achieve even greater success and why it is a wise choice for any investment portfolio.
Experts valued the global construction industry at $11 trillion in 2020, and it's projected to grow to $15 trillion by 2030. The growth is driven by increasing urbanization, infrastructure investment, population growth, and industrialization. So far, this massive industry has yet to embrace modern-day technology fully. Many construction companies are still stuck in the past, relying on outdated methods such as paper documents, email, fax, and spreadsheets. Even when construction companies adopt technology, it often has limited impact due to the use of outdated tools with limited functionality or construction stakeholders using multiple applications that fail to integrate properly. The highly fragmented and specialized construction industry is ripe for innovation with cloud-based solutions. As the chart below shows, construction is one of the last industries to enter the digital age.
Source Fool.com
