KPMG’s 2023 Global Construction Survey provides insights from 267 people: professionals from engineering firms and construction companies (121) as well as project owners (146).
The survey includes topics such as innovation and technology. The following are some of the results from the technology section.
Trends in technology adoption
The 2017 Global Construction Survey showed that the industry has adopted technologies such as BIM, analytics, and project management information systems. Drones, smart sensors, and mobile were also included. Some explored 3D printing (ML), machine learning (VR), robotic process automation, and virtual reality.
In the survey of 2023, 83% of engineering and construction firms (EC) reported that they have adopted or are beginning to adopt PMIS. 90% of firms are either using basic data analytics or are about to start using it, while 21% already use advanced analytics. VR usage has increased from 28% up to 56%.
A lack of industry standards has led to only a small number of people using RPA, 3D Printing, ML, and AR regularly. Digital twins, modular/offsite production, and digital twins are becoming more popular.
AI adoption has grown significantly. 40% of respondents have adopted or are starting to use AI by 2023. However, only 4% of respondents apply AI to every project.
The following graph shows the breakdown of technology adoption rates among EC firms.
KPMG 2023: Technology adoption in the 121 surveyed EC companies (chart by AEC Business).
Technology ROI Potential
BIM and advanced data analytics, as well as integrated project management information systems(PMIS), are the technologies that offer the highest return on investment in capital projects.
According to the survey, digital twins, AI/VR/AR, 3D-printing, RPA, and modular manufacturing have untapped potential.
KPMG 2023: Tech ROI Potential in Capital Projects (chart by AEC Business).
Others struggle to leverage technology effectively. It is important to have experienced project managers and teams.
Download the entire report from the site of KPMG.
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Gonzalo has over 30 years of experience in the building material industry. He promotes the revolution in construction by working with Contech startups and entrepreneurs, as well as universities and other interested parties. He is focused on finding new business models in the construction industry, as well as helping to drive innovation, sustainability, and digitization within the built sector.
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