The Construction Connected 2024 report published today by smino shows how the complexity of the construction industry is increasing and how it can be mastered. As the provider of the leading software solution for planning and construction projects, with over 9,000 construction projects implemented on the platform, smino has its finger on the pulse of this development.
More parties involved in construction, more data, new laws, new crises – the challenges and complexity in the construction industry are constantly increasing worldwide. These trends are also reflected in smino’s usage statistics, which are now presented in the report. From 2021 to 2023 alone, the number of companies involved in each construction project rose by 30 percent. The number of employees involved per project also increased by 66% between 2019 and 2023.
For the new smino report, 6 of the most relevant and current studies were analyzed and aggregated*, reflecting the trends and developments in the industry. According to the report, the growing complexity and interconnectedness of the construction industry is a major challenge for which new solutions are needed.
From risk management to data protection
It is not only projects themselves that are becoming more complex. The general situation for companies involved in the construction industry has also changed and will continue to change significantly. Through interviews with experts, the report sheds light on the background and solutions for various topics and the biggest challenges such as sustainability, data protection and risk management in the construction industry.
For example, data protection requirements have increased due to the introduction of the General Data Protection Regulation (GDPR) and a new data protection law in Switzerland. In exclusive interviews, smino asked experts from Swisscom what challenges the construction industry can now expect in terms of data protection and how companies can best position themselves for the future.
An expert from AIC, a leading insurance broker for the construction industry, emphasizes that the belief in a blanket global insurance policy that provides comprehensive protection for construction projects everywhere is a common misconception.
He points out that local regulations, regional risks and specific project requirements are often not covered by standard policies.
BIM and sustainability
According to Stephan Aeschlimann, President of openbim.ch, the topic of Building Information Modeling (BIM) will “get a boost” in 2024. In Switzerland, for example, this applies above all to infrastructure projects. As a building contractor, it is therefore crucial to prepare for the increasing requirements. The pressure is also increasing in the area of sustainability. Companies have not remained inactive. According to the report, 86 percent of Swiss real estate investors take formal guidelines for sustainable investments into account. In this context, the smino report mentions the construction company Renggli AG, which reconciles the issues of sustainability and digitalization, making it an inspiring pioneer.
Entering a new era
The construction industry is on the threshold of a new era in which collaboration, the use of state-of-the-art technologies and a strong commitment to sustainability are crucial. “Our goal with the report was to create a comprehensive resource that not only sheds light on the current state of affairs, but also offers groundbreaking perspectives on a digital and sustainable future for the construction industry,” says Sandor Balogh, Managing Partner and founder at smino. Christoph Degendorfer, also smino Managing Partner and co-founder, adds: “We have seen for years that the complexity of construction projects is growing and with this report we want to provide companies with a tool to master these challenges.” smino invites all interested parties to use the Construction Connected 2024 report as a source of knowledge and to be inspired by examples and visions for the future. It is now available for download here.
Links:
*Study directory:
Autodesk Construction Cloud. (2022, October 18). Harnessing the Data Advantage in Construction.
Retrieved from https://construction.autodesk.com/resources/guides/harnessing-data-advantage-in-construction/ Künzler, K., Robbi, S., Schuster, A., & Schuster, P. (2022).
Technology report: Digitalization of the construction and real estate industry. City of the future.
Retrieved from https://nachhaltigwirtschaften.at/de/sdz/projekte/digitalisierung-bau-immobilien-technologiereport.php PwC Germany. (2023).
Challenges facing the German construction industry.
Retrieved from https://www.pwc.de/de/managementberatung/capital-projects-and-infrastructure/herausforderungen-der-deutschen-bauindustrie.html
Royal Institution of Chartered Surveyors (2023). Digitalization in construction report 2023.
Retrieved from https://www.rics.org/news-insights/digitalisation-in-construction-report Schober, K.-S. (2023, November 14).
Roland Berger Construction Trend Radar 2023. Roland Berger. Retrieved from https://www.rolandberger.com/en/Insights/Publications/Roland-Berger-Construction-Trend-Radar-2023.html
Swiss Sustainable Finance. (2023). Market study 2023. Retrieved from https://marketstudy2023.sustainablefinance.ch/wp-content/uploads/2023/06/SSF_2023_MarketStudy.pdf
Zentralverband Deutsches Baugewerbe. (2023). Construction industry 2023-2024: Between shortage of skilled workers and short-time work. Retrieved from https://www.zdb.de/meldungen/baukonjunktur-2023-2024-zwischen-fachkraeftemangel-und-kurzarbeit-1
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