In the last few months, a number of interesting studies have been published on the subject of digitalization in the construction industry.
KPMG has as a result of your Global Construction Survey a report under the name Future-Ready Index - Leaders and followers in the engineering & construction industry published.
The study surveyed 223 companies (31 of which operate in Europe) from the construction industry and clients from all sectors and divided them into three groups:
- Innovative Leaders (20%) - the leading edge
- Followers (60%) - the following
- Behind the curve (20%) - the tail light
As the study shows, the Innovative Leaders from the construction industry are characterized by the following points:
- A clear vision and digitalization strategy
- Own innovation teams with support from the management
- Willingness to invest in pilot projects and learn from mistakes
- Investment in technologies such as BIM, drones, VR/AR, sensors, etc.
- Employee development and flexible career opportunities, continuous recruitment of new talent
- Strong focus on growth in all areas paired with visionary future goals
The following trends are emerging among building owners:
- Market-leading technology companies and manufacturers (usually ranked among the top international Fortune 100 or Fortune 500 company listed)
- Competitive sectors in which the construction industry plays a key role
- Innovation is part of the corporate culture
- Technology also plays an important role in recruitment and attracting new talent
- Clear formulation and communication of the vision for the future
- Cross-company departments (test labs) for new technologies
In addition, the case studies repeatedly emphasize the importance of corporate management for the status of the company. Innovative Leader are also crucial. Factors such as the implementation of new technologies, employee training and diversity within the teams are also decisive for the leadership role.
The Study concludes with a self-test that can be used to determine your own Future-Ready Index.