- Economic uncertainty has been cited as the top challenge for Australian construction businesses, even though government infrastructure and private commercial construction spend has increased across the country
- 66 per cent of construction firms found that digital technology had a high or very high impact on improving business performance
These are some of the latest findings from the new research report on the State of Digital Adoption in Construction 2023 jointly released by Deloitte and Autodesk.
The State of Digital Adoption in Construction Report 2023 surveyed executives in the architecture, engineering and construction (AEC) sectors across Australia, Singapore and Japan on emerging trends and the state of technology adoption in these markets.
“The construction sector has unfortunately seen a number of collapses, with at least 20 construction companies in Australia folding in 2022. There are multiple factors involved such as a challenging procurement environment, labour and material shortages, extreme weather and supply chain disruptions,” Sumit Oberoi, Autodesk APAC Industry Strategy Manager said.
And yet, a total of $255 billion in Australian Government expenditure has been allocated to infrastructure over the four years between 2022-23 and 2025-26 – a three per cent increase over last year’s allocations. Additionally, in the October 2022-23 budget, the Australian Government announced an investment of almost $1.4 billion for vital land transport infrastructure projects in New South Wales alone to improve safety and reduce travel times.
“The industry is at a crossroad, and greater operational efficiencies are required to maintain competitiveness. We have found that when a company adopts technology there is a direct positive impact on their revenue,” Mr Oberoi said.
“The survey showed nearly nine in ten AEC businesses are investing in new technologies, and businesses with higher levels of digital adoption are more optimistic about the future and more likely to have international operations,” David Rumbens, Deloitte Access Economics Partner said.
“Additionally, 61 per cent of AEC businesses see using new technology to deliver projects as a key source of growth.”
The joint report also shared insights on:
- Industry benchmarks of how technology usage and investments impact business performance
- Overcoming top barriers to digital adoption
- Five priorities recommended by Deloitte for successful digitalisation
- Real-world examples of how construction firms achieved greater business results and uncovered new revenue opportunities through a robust digitalisation roadmap
For more research findings, download the full complimentary industry report – State of Digital Adoption in Construction 2023.
This sponsored editorial was brought to you by Autodesk.
