Technological Advancement Applications in the Real Estate and Construction Industry: Bibliometric Analysis

Abstract

This study examines the influence of technological advancement on the real estate and construction industry. Research articles published between 2006 and 2023 on advanced technological advancements in the construction industry and real estate sector were obtained from the Web of Science analysis. A total of 155 research articles were eventually explored using the VOSviewer application. Bibliometric coupling and co-occurrence networks were employed. The findings revealed that most advanced technological applications are suitable for improving the construction industry and real estate sector. Digital transformation, artificial intelligence, smart contracts, blockchain technology, industry 4.0, and the Internet of Things positively influence the construction and real estate sectors. Advanced technology innovations revolutionised both industries and provided solutions to their long-standing problems. Most of the huge problems facing the real estate sector and construction industry are rectified with the adoption of advanced technological innovations. However, the construction and real estate industries were among the least in adopting the technology despite their huge challenges in operational functionality. This is the first paper on bibliometric analysis that draws the readers’ attention to link the strength of the relationship established among variables rather than focusing mainly on citations. The study carefully incorporates necessary bibliometric normality analysis to prevent misleading findings that could lead to unreliable investment decisions of the stakeholders in real estate and the construction industry.