When it comes to adopting advanced AEC tech tools and processes, the nation’s largest architecture, engineering, and construction firms are feeling good, but not great, about their progress when compared with their direct competitors.
About half (42%) say their firm is “on par” with their most-direct AEC competitors, and more than a third (38%) are “somewhat ahead” of their market rivals. Just 4% are “significantly ahead” while a much more sizable group (16%) fears that their firm has fallen behind their key competitors on the AEC tech front. This explains the angst we’ve been sensing in the marketplace.
This data comes from BD+C’s inaugural Giants 300 Technology and Innovation Survey, which, as of May 23, had collected data from 105 AEC Giant firms. This research project is a companion to BD+C’s long-running (42 years!) Giants 300 Report, and aims to assess the state of technology adoption and innovation initiatives at the nation’s largest AEC firms.
While this project is ongoing (we hope to collect data from at least 200 firms by mid-summer), there are several intriguing takeaways from the data we have so far:
• Improved project team coordination was cited as the most significant business impact of AEC technology tools and processes. Three-quarters of responding firms named it among their top-three benefits of AEC tech. Other advantages cited often by respondents: improved client relations/vision meetings (40%); increased speed of work (39%); increased quality of work (37%); automates mundane tasks (35%).
• 3D laser scanning, real-time rendering, and design computation were cited most often as “high-ROI” tech strategies. Forty-two percent of respondents indicated that 3D laser scanning offered a strong return on initial investment; 40% for real-time rendering tools; 37% for design computation. Other tech strategies that ranked high for ROI: virtual reality (36%), 360 video/photos (26%), drones (23%), and artificial intelligence (13%).
• The majority of firms report a high “innovation conversion” rate. When asked to rate the success of individual innovation projects implemented within the past 24 months, nearly two-thirds of responding firms reported a success rate of at least 40% on projects. A sixth of firms are hitting on 80% or more of their projects.
• Two-thirds of responding firms have hired an “AEC outsider” within the past 24 months to help with their innovation efforts. The most common additions: software programmer, data analyst, game designer/VR specialist.
The full report from the Giants 300 Technology and Innovation Survey will be available for free download (short registration required) on September 6 at BDCnetwork.com/2019TechSurvey.
Related Stories
Giants 400 | Nov 29, 2020
Top 40 Engineering Architecture Firms for 2020
Jacobs, AECOM, and Kimley-Horn top the rankings of the nation's largest engineering architecture (EA) firms for nonresidential buildings and multifamily buildings work, as reported in Building Design+Construction's 2020 Giants 400 Report.
Giants 400 | Nov 29, 2020
Top 75 Engineering Firms for 2020
WSP, Terracon, Tetra Tech, and Arup top the rankings of the nation's largest engineering firms for nonresidential buildings and multifamily buildings work, as reported in Building Design+Construction's 2020 Giants 400 Report.
Giants 400 | Nov 29, 2020
Top 155 Architecture Firms for 2020
Gensler, Perkins and Will, and HKS Architects top the rankings of the nation's largest architecture firms for nonresidential and multifamily buildings work, as reported in Building Design+Construction's 2020 Giants 400 Report.
Giants 400 | Nov 29, 2020
Top 100 Architecture Engineering Firms for 2020
Stantec, HDR, and HOK head the rankings of the nation's largest architecture engineering (AE) firms for nonresidential and multifamily buildings work, as reported in Building Design+Construction's 2020 Giants 400 Report.
Giants 400 | Nov 29, 2020
Top 85 Construction Management + Project Management Firms for 2020
Jacobs, CBRE, VCC, and JLL top the rankings of the nation's largest construction management (as agent) and program/project management firms for nonresidential and multifamily buildings work, as reported in Building Design+Construction's 2020 Giants 400 Report.
Giants 400 | Nov 29, 2020
Top 135 Contractors for 2020
Turner, Whiting-Turner, and STO Building Group head the rankings of the nation's largest general contractors, CM at risk firms, and design-builders for nonresidential buildings and multifamily buildings work, as reported in Building Design+Construction's 2020 Giants 400 Report.
Government Buildings | Nov 13, 2020
Tax shortfalls nip government projects in the bud
Federal contracts are proceeding, but states and cities are delaying, deferring, and looking for private investment.
Contractors | Oct 1, 2020
Molly McShane named CEO of The McShane Companies
Molly McShane named CEO of The McShane Companies
Giants 400 | Aug 28, 2020
2020 Giants 400 Report: Ranking the nation's largest architecture, engineering, and construction firms
The 2020 Giants 400 Report features more than 130 rankings across 25 building sectors and specialty categories.
Giants 400 | Feb 14, 2020
Call for surveys: 2020 Giants 300 Report
Ranking the nation’s largest architecture, engineering, and construction firms across 44 building sectors and specialty categories.
