November CEO recap: Full speed ahead and hopes of a shift in the industry economy
We have entered December and it is time for another monthly CEO recap from me and the ScaffSense team. In this month’s recap, I talk about the encouraging shift toward economic stability in the construction sector, as well as positive developments in the final product verification. You also get a preview of our updated sensor design.
Signs of Economic Recovery
I heard some very encouraging news on the radio today, that capital lending have started to increase for both households and businesses. This is of course very positive for society as a whole, as well as for the construction sector. It is certainly a direct effect of central banks across Europe signaling a change in direction for interest rates, with some already starting to cut them at a brisk pace. Everyone in the industry knows that we are currently in quite a tough period business-wise, and I really hope this signals a shift toward a more “normal” business climate.
Going full speed ahead
At ScaffSense, we’re going full speed ahead with the final verification of our products. We have also begun final negotiations with our intended subcontractors. I have been pleased to note that Swedish subcontractors possess an extremely high degree of automation and have very strong expertise in both mechanical and electronic manufacturing, which makes things easier for us. As an innovative and high-tech company specializing in scaffolding safety, it’s essential that development and production works closely together. It certainly helps to work with local suppliers —especially now as the pre-series volume undergoes the process of final review and quality assurance.
ScaffSense aligned with industry trends
For fun, I recently asked ChatGPT to identify upcoming trends in the scaffolding industry. These are the strongest trends it came up with:
- Sustainability and Safety: There is a growing focus on sustainability and safety. Companies must comply with stricter safety regulations to ensure that scaffolding is not only functional but also safe for workers. Additionally, there is increasing demand for more sustainable and recyclable materials in the construction sector.
- Digitalization and IoT: There is an ongoing trend toward digitalization in the construction industry, and scaffolding companies are also starting to adopt technological solutions to streamline processes. This includes using sensors and drones to inspect scaffolding or digital platforms for rental and logistics.
I am happy to conclude that ScaffSense’s products and services are timely and perfectly aligns with what the scaffolding industry will need in the future. Should the industry also get a boost from a growing economy, 2025 could be an incredibly exciting year for ScaffSense.
Sincerely,
Martin Elovsson
CEO ScaffSense AB
Other news from ScaffSense
October recap: Clear market need and exciting advances for ScaffSense
Once again, reality shows that Scaffsense products are needed in the market to increase safety and drive efficiency on construction sites around the world. A few weeks ago, a scaffolding outside Bilbao, Spain collapsed because of the storm Kirk’s advance. Fortunately, no people were killed, but large capital values were lost, and the construction project was halted pending the accident investigation and the reconstruction of new scaffolding.
New CEO to bring ScaffSense to the market
After the successful first pilot test of ScaffSense, the world’s first smart stability alarm for scaffolding, the company is now intensifying its efforts by recruiting Martin Elovsson as the new CEO. Kebni and the scaffolding company Solideq are behind the initiative.
Kebni och Solideq startar joint venture för att erbjuda banbrytande säkerhetslösning
Teknikbolaget Kebni AB (publ) och det ledande byggnadsställningsföretaget Solideq Group AB har ingått ett joint venture-avtal för att producera och erbjuda en unik säkerhetsinnovation till den globala marknaden för byggnadsställningar. Tillsammans står de bakom det nya bolaget ScaffSense.
