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- 16 May 2019 14:38
Australian construction industry says new technologies will increase productivity and revenue
SYDNEY, Australia – 15 May 2019 – Procore Technologies, Inc., a leading provider of construction management software, in partnership with ACA Research, today released the findings of an Australian construction industry benchmark report, How We Build Now – Tracking Technology in Construction 2019. Highlights from the report show that 86 percent of respondents think increasing technology usage is an important means of improving productivity, but an existing skills gap could prove to be an issue with 92 percent of respondents stating that upskilling the workforce is equally important. The survey provides insights on technology, people, and outlook in the local construction sector.
The How We Build Now report found that construction companies with more than ten employees are generally optimistic, expecting continued growth and more lucrative projects throughout 2019. The rising cost of raw materials and equipment is the most significant challenge for this outlook, while other common pain points include project productivity, efficiency, and information technology.
Overall, small construction businesses (10-99 employees) have significant concerns relating to staff management, however, they are agile and adaptable when it comes to adopting technology and developing technical skills. Meanwhile, medium businesses (100-499 employees) have more confidence in the year ahead yet struggle with efficiencies and are somewhat complacent when it comes to technology adoption and skills development. Large businesses (500+ employees) will continue to lead the charge, adopting new technologies to drive productivity and revenue and seeking a broad range of skills including data analytics and comfort with digital technology to support this.
Key findings from the report include:
- Business outlook: 64% of respondents feel confident about building and construction industry business conditions in 2019, with 22% expecting an increase in the value of their projects.
- Efficiency and productivity: The Australian construction industry spends 12% of its time on re-work. Small (17%) and medium (16%) sized businesses spend more time on re-work than large (10%) businesses. Meanwhile, almost 50% of businesses believe improving project management skills is essential to increasing productivity.
- Technology impact: 69% of respondents feel prepared for the impact of new technologies on their business. Equally, 69% think new tech will increase productivity, while 62% of respondents say it will also increase revenue. 41% of businesses will use 6 or more new technologies in 2019.
- People and skills: 92% of respondents think that upskilling your workforce is an important means of improving productivity, yet in contrast 95% are also confident the skills of their current workforce will meet their business needs in 2019.
- Current and future tech usage: BIM/CAD is the most popular technology currently used in the industry (33%), followed by pre-fabricated parts (29%) and digital project management tools (25%). Respondents also see these technologies being the top three drivers of change over the next 3 years, with pre-fabricated parts (32%) leading the charge.
- Health and safety: Half of all construction companies are unaware of the targets set by ‘The Australian Work Health & Safety Strategy 2012-2022’.
- Diversity: 1 in 5 leadership positions are held by women, with large companies leading the way.
“Construction companies are constantly looking for ways to drive growth, reduce risk and delays, or simply to find that elusive work/life balance. At Procore, we believe that the right technology makes life easier, so we take every effort to learn how we can use it to make work easier in the construction industry,” said Tom Karemacher, Vice President APAC at Procore Technologies.
“Our customers tell us that, whilst they’re looking at ways to consolidate legacy technologies, they are also planning for the future. We invested in this research to shed light on technology adoption in construction, and how new technologies are influencing more efficient processes and better business outcomes,” Karemacher continues. “We hope the report will provide industry, government and the education sector with information about how technology is being adopted, the current and future skills required, and the role that technology plays in helping the construction industry meet its obligations.”
The ﬁrst in an annual ‘benchmark series’, the research behind How We Build Now – Tracking Technology in Construction 2019 was conducted by independent research company ACA Research, which surveyed 170 construction companies across Australia.
Download a copy of the How We Build Now – Tracking Technology in Construction 2019 report here.
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Procore is a leading provider of construction management software. Procore connects people, applications, and devices through a unified platform to help construction professionals manage risk and build quality projects—safely, on time, and within budget. Procore has a diversified business model with products for Project Management, Construction Financials, Quality & Safety, and Field Productivity. Headquartered in Carpinteria, California, with offices around the globe, Procore is used to manage billions of dollars in annual construction volume. For more information about Procore, visit procore.com.
India Bednall / Samantha Rosich
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