Multiple Headwinds but Concrete Growth
Emerging technologies, as well as the data and sophisticated analytics that these new capabilities might enable, are at the heart of linked building. The development of data, analytics, and user-based insights skills could be crucial as the sector transitions to connected building. The term 'connected construction' will probably be used to refer to significant digital expenditures made in 2022 to link, integrate, and automate business processes and put the entire value chain on a safe, intelligent infrastructure.
The main concern for the majority of E&C firms after the pandemic was how to resume work at job sites safely. Surprisingly, despite adopting the necessary safety requirements right away, the business is still struggling to find people. Unfilled positions can have a detrimental impact on E&C enterprises in a variety of ways, including project cancellations and delays, project scale backs, an inability to meet market demands, losing project bids, and a lack of innovation, among others.
Meanwhile, EPC companies have pulled up their socks to gather a strong footing in the global market. Some of these companies in this edition have overcome a plethora of challenges to become a promising name in the industry.