Photo courtesy Asite
Software company Asite has launched a new research report on the trends set to impact the construction industry globally in 2020. The report also examines the effect of the COVID-19 pandemic and considers how this will impact the industry in the coming 12 months.
Research was conducted on different regions—namely North America, United Kingdom, Europe, the Middle East, Asia-Pacific, and India—to examine key trends in those regions and their relatedness.
The snapshot report aims to provide the construction industry with a clear view of its future and determines what the industry needs to do to move forward, overcome current challenges, and build on the progress taking place.
“When we began our research, we could not have known how drastically the world would change in such a short time. This change and the impact of the COVID-19 outbreak has impacted our findings and will continue to shape our industry long after the pandemic has passed,” said Nathan Doughty, Asite CEO.
Key takeaways from the report in North America include:
- expected growth in United States of 2.22 percent by 2022 set to be impacted by COVID-19 pandemic despite government stimulus package;
- U.S. Airport improvement plan expected to set infrastructure precedent;
- U-turn in Canadian workforce growth expected for 2020; and
- North American smart city platform market is expected to register a CAGR of 18 percent between 2020 and 2025.
In its conclusion, the report demonstrates how shared trends and developments across regions might offer a solution to the current crisis. Digital engineering and the establishment of strategic operating models are suggested as key to building resilience and safeguarding the industry.
The report also calls on the industry to recognize their interdependence and develop a strategy that is both regionally engaged and globally responsive.
“Now more than ever, I believe our industry needs to come together and operate as the global industry it is to solve future challenges and build resilience,” Doughty added.
To read the report in full, click here.
