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 | Aug 16, 2019
2019 Healthcare Giants Report: The ‘smart hospital’ is on the horizon
These buildings perform functions like a medical practitioner. This and more healthcare sector trends from Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 15, 2019
3 ‘Giant’ AEC market trends for 2019-2020
We’re starting to see a shift toward custom research, thanks in part to the influx of data, data tools, and analytics expertise in the AEC market.
Giants 400 | Aug 15, 2019
Top 100 Multifamily Sector Construction Firms for 2019
Lendlease, AECOM, Suffolk, Clark Group, and Gilbane top the rankings of the nation's largest multifamily sector contractors and construction management firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 15, 2019
Top 80 Multifamily Sector Engineering Firms for 2019
Kimley-Horn, WSP, Thornton Tomasetti, Jordan & Skala, and DeSimone Consulting Engineers head the rankings of the nation's largest multifamily sector engineering and engineering architecture (EA) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 15, 2019
Top 140 Multifamily Sector Architecture Firms for 2019
Humphreys & Partners, KTGY, SCB, CallisonRTKL, and Perkins Eastman top the rankings of the nation's largest multifamily sector architecture and architecture engineering (AE) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 15, 2019
2019 Multifamily Giants Report: Apartment construction keeps moving along, but affordable housing lags behind
The latest trends and innovations in the $66 billion multifamily construction sector, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 13, 2019
Top 40 Science and Technology Sector Construction Firms for 2019
Skanska, DPR, McCarthy, Whiting-Turner, and Turner top the rankings of the nation's largest science and technology (S+T) sector contractors and construction managers, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 13, 2019
Top 55 Science and Technology Sector Engineering Firms for 2019
Affiliated Engineers, Jacobs, WSP, RMF, and CRB head the rankings of the nation's largest science and technology (S+T) sector engineering and engineering architecture (EA) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 13, 2019
Top 65 Science and Technology Sector Architecture Firms for 2019
HDR, Interior Architects, Perkins+Will, SmithGroup, and HOK top the rankings of the nation's largest science and technology (S+T) sector architecture and architecture engineering (AE) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 13, 2019
2019 Science + Technology Giants Report: Operational flexibility is a must for S+T buildings
The science and technology (S+T) sector is arguably the industry’s most complex because it caters to a diverse clientele with specific priorities and imperatives, according to Building Design+Construction's 2019 Giants 300 Report.
