This report identifies key demand-side trends in the engineering and construction (E&C) industry that can help enterprises fine-tune their digital strategies. It also provides an overview of enterprise challenges in this space based on Avasant’s assessment.
Why read this Market Insights?
In the face of challenges such as cost pressures, climate compliance needs, labor shortages, and supply chain disruptions, the engineering and construction industry is aggressively pouring digital investments and adopting cutting-edge technologies — generative AI, advanced analytics, digital twin, and virtual reality — to address these challenges. Leveraging connected construction platforms, project management solutions, drone-based inspections, and modular construction, they aim to enhance project efficiency, reduce costs, and prioritize worker safety and technology usability. As this requires strong technological expertise and delivery capabilities, E&C enterprises are collaborating with service providers for digital transformation.
The Engineering and Construction Digital Services 2024 Market Insights™ aids enterprises in this sector in identifying important market trends and challenges for any digital project they participate in.
Methodology
The industry insights presented in this report are based on our ongoing interactions with enterprise CXOs and other key executives; targeted discussions with service providers, subject matter experts, and Avasant Fellows; analyst insights from primary and secondary research; and lessons learned from consulting engagements.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–7)
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- Scope of coverage
- Key market drivers and enterprise response
- Avasant recognizes 10 top-tier service providers supporting the engineering and construction industry in digital transformation
Demand-side trends (Pages 8–13)
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- The E&C sector is accelerating the adoption of digital platforms and transformative technologies to manage the increasing supply chain risk.
- Construction firms are embracing advanced technologies to mitigate the impact of labor market transitions.
- Climate mandates are compelling E&C enterprises to adopt digital technologies to reduce carbon emissions.
- Construction firms are adopting diverse technologies to manage project timelines and avoid budget overspends.
- E&C firms are capitalizing on generative AI advancements by investing in startups and partnering with niche players.
Key contacts (Page 15)
Read the Research Byte based on this report.
Please refer to Avasant’s Engineering and Construction Digital Services 2024 RadarView™ for detailed insights on the service providers and supply-side trends.
