Deloitte has launched a report, “The Future of Construction: Key Trends Shaping Engineering and Construction,” which discusses advancements in a changing industry. The global firm identifies five key trends that will shape construction’s future as contractors evolve post-pandemic.
The trends are:
- Smart Operations
- Prefabrication and Modular Construction (a topic contractors can read more about in the September 2021 issue of Construction Executive)
- Data and Advanced Analytics
- Future of Work
- Strategic Sourcing
The report also includes findings, such as:
- 76% of construction executives are investing in digital technologies to address cost and margin challenges;
- 24% of industry executives are investing in drones and robotics at jobsites to increase worker productivity and efficiency; and
- 26% of executives in the industry are increasing their use of prefabrication and modular products.
Current concerns, such as customer demand, economics, supply chain and others, will lead drastic shifts in the way structures are created. Contractors can best prepare by gaining as much information as possible.
A second report, “The Future of Construction: The Fundamental Capability Shifts Needed for Long-Term Success,” notes that companies are faced with customer pressures, challenging projects, dispersed operations and unpredictable market behaviors, all adding to the growing complexity and ambiguity within the industry. Connected, integrated and automated operations are increasingly the main value drivers for future construction firms.
The major shifts these companies will need to make to achieve long-term success include:
- Engineering design to configuration and structural design, using digital twins
- Procurement to strategic sourcing and procurement
- On-site building and construction to on-site installation, including permanent manufacturing operations
- Project management to smart portfolio management, by driving visibility with construction command centers.
Download the first report here or access Deloitte’s 2021 construction industry outlook here. The second report is available here.
