Global Digital Transformation on the Building and Construction Sector, Forecast to 2025

Global Digital Transformation on the Building and Construction Sector, Forecast to 2025

Digitalization, Analytics, Smart Assets, and Materials Key Toward Smart Construction

RELEASE DATE
05-Jan-2018
REGION
North America
Research Code: P997-01-00-00-00
SKU: EN01040-NA-MO_21422
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Description

Digital transformation journey has to be adopted in order to stay competitive. The building and construction industry productivity in general is largely left behind, compared to other industries, due to the slow digital transformation movement. Poor planning, lack of automation, insufficient communication, inadequate risk management, and unsophisticated supply chain practices are the major factors hampering productivity and causing significant cost and time overruns. The need to boost productivity, coupled with the need to minimize project overruns and the reliance on unskilled labor, is the top driver for IT adoption in the construction industry. In addition, the combination of new mega trends like urbanization, connectivity & convergence, smart is the new green, artificial intelligence, and other social trends are driving transformational changes in the industry. Ultimately, the move toward digital transformation will be inevitable for the building and construction industry.


Research Highlights

Digital transformation in the construction industry focuses on three key areas: i) Big data: management of bulk data, allowing information sharing on transparent and accountable platforms and processes, encouraging a collaborative and inclusive decision-making process, as well as better analysis and prediction; ii) Automation: facilitates competitiveness, reduces unpredictability that contributes to time and cost overruns, and improves resiliency to threats and interruptions; and iii) Standardization: leads to efficient resource management, simplifies operations and supply chain, minimizes waste and boost efficiency, and facilitates innovation and sustainability. Despite the increasing availability of digital solutions, the industry has to overcome the challenge of rolling out technology across multiple sites, subsectors, and stakeholders. The way forward will be a platform that promotes interoperability. The regulatory framework has to be strengthened as well and the overall perception of industry stakeholders has to be debunked to enhance awareness and the willingness to invest in this digital transformation journey.

This analysis on current building and construction industry journey towards digital transformation shows the fundamental issues in the industry and identify achievable digital transformation opportunities. Case studies and examples of current digital transformation implementations are provided to showcase possible applications.

Key Issues Addressed

  • What are the industry challenges that can to be solved with digital transformation?
  • What will happen to companies that cannot keep up with digital transformation? Who will win? Who will be threatened by them?
  • What are the customer values by adopting digital transformation in the building and construction sector?
  • What are the growth opportunities? Who are the key providers of digital transformation within the building and construction sector?
  • Why must digital transformation be a part of the company's corporate strategy? What are the innovative business models that can be mirrored?

RESEARCH: INFOGRAPHIC

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Table of Contents

Benefits of this Analysis for the Building and Construction Sector

Frost & Sullivan Digital Transformation Framework

Digital Transformation Framework—Digital Ecosystem

Strategic Imperatives for Success and Growth in the Building and Construction Sector

Tackling Challenges in the Building and Construction Sector

Digital Transformation Aspects in the Building and Construction Sector

Key Digital Solutions in Building and Construction Sector

Phases of Digital Technology Implementation in the Building and Construction Sector—2017 and 2020

Phases of Digital Technology Implementation in the Building and Construction Sector—By Region

Definitions

Definitions (continued)

Definitions and Scope—Building and Construction

Typical Life Cycle of a Building Project

Global Construction Sector Overview

Building and Construction Sector Challenges—Overview

Industry Challenge—Construction Productivity

Industry Challenge—Construction Productivity: Possible Solutions

Industry Challenge—Construction Productivity: Regulatory Framework

Industry Challenge—Slow Adoption of Technology Innovation

Industry Challenge—Slow Adoption of Technology Innovation: Possible Solutions

Industry Challenge—Labour Market Issue

Industry Challenge—Burdensome Process and Performance Management

Digital Transformation for the Building and Construction Sector—Overcoming Industry Challenges

Digital Transformation for the Building and Construction Sector—Case Study

Digital Transformation in the Building and Construction Sector

Digitalization—Overview

Digitalization—Technologies

Digitalization—Technologies (continued)

Digitalization—Case Studies

Mapping—Overview

Mapping—Technologies

Mapping—Case Studies

BIM—Overview

BIM—Overview (continued)

BIM—Overview (continued)

BIM—Technologies

BIM—Case Studies

Materials—Overview

Materials—Technologies

Materials—Case Studies

Materials—Circular Building

Materials—Circular Building (continued)

Smart Assets—Overview

Smart Assets—Overview (continued)

Smart Assets—Technologies

Smart Assets—Case Studies

Digital Transformation Ecosystem

Digital Transformation Ecosystem (continued)

Digital Transformation Ecosystem (continued)

5 Major Growth Opportunities in the Digital Transformation on the Buildings and Construction Sector

Digital Ecosystem

GAP Analysis

Digital Strategy Self-Diagnostic

Digital Strategy Self-Diagnostic (continued)

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
Digital transformation journey has to be adopted in order to stay competitive. The building and construction industry productivity in general is largely left behind, compared to other industries, due to the slow digital transformation movement. Poor planning, lack of automation, insufficient communication, inadequate risk management, and unsophisticated supply chain practices are the major factors hampering productivity and causing significant cost and time overruns. The need to boost productivity, coupled with the need to minimize project overruns and the reliance on unskilled labor, is the top driver for IT adoption in the construction industry. In addition, the combination of new mega trends like urbanization, connectivity & convergence, smart is the new green, artificial intelligence, and other social trends are driving transformational changes in the industry. Ultimately, the move toward digital transformation will be inevitable for the building and construction industry.--BEGIN PROMO--

Research Highlights

Digital transformation in the construction industry focuses on three key areas: i) Big data: management of bulk data, allowing information sharing on transparent and accountable platforms and processes, encouraging a collaborative and inclusive decision-making process, as well as better analysis and prediction; ii) Automation: facilitates competitiveness, reduces unpredictability that contributes to time and cost overruns, and improves resiliency to threats and interruptions; and iii) Standardization: leads to efficient resource management, simplifies operations and supply chain, minimizes waste and boost efficiency, and facilitates innovation and sustainability. Despite the increasing availability of digital solutions, the industry has to overcome the challenge of rolling out technology across multiple sites, subsectors, and stakeholders. The way forward will be a platform that promotes interoperability. The regulatory framework ha

More Information
No Index No
Podcast No
Author Janice Wung
Industries Environment
WIP Number P997-01-00-00-00
Is Prebook No
GPS Codes 9343-A4,9596,9AA5-C1,GETE