Claranet | Industry Report | Next Generation Technology

Issue link:

Contents of this Issue


Page 1 of 29

Claranet Industry Report Next Generation Technology In a world where everything is connected, finding a partner you can trust has never been so important... 1. Introduction The Architecture, Engineering, and Construction (AEC) sector is the key player in developing smart cities that are aligned to new styles of living and working. It has a broad responsibility to build a modern world, bolstering economic outlooks through infrastructure and it is consistently expected to solve urban problems. According to a 2017 McKinsey report 1 , The construction industry employs about 7 percent of the world's working-age population. The same report goes on to say the engineering and construction sectors are collectively worth more than $10 trillion a year. However, despite its economic clout, the report warns that the construction industry is severely under digitised. This is further supported by a report in 2016 which found that 70 percent of construction firms dedicated just 1 percent or less of their revenue to technology. The AEC sector in the UK is suffering the same challenges as its global counterparts. Industry leaders agree it is at a pivotal point in its lifecycle and must catch up with its already digitised peers, such as manufacturing. Fortunately, the UK's AEC sector is not all doom and gloom. Companies are joining the ecosystem economy and joint ventures are gaining ground as leaders see the vast benefits of a collaborative approach and letting go of blinkered thinking. In this ebook, we look at how the sector reached this point, but, more importantly, we examine what needs to be done for it to futureproof itself and take its place in the Fourth Industrial Revolution. To properly explore this, we engaged with some of the UK's most respected thought leaders, entrepreneurs and top-tier movers and shakers in the AEC sector. The following ebook contains their exclusive insight, curated by connectivity provider Claranet. 1 Reinventing construction through a productivity revolution McKinsey Global 1

Articles in this issue

view archives of Brochures - Claranet | Industry Report | Next Generation Technology