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Accenture infographic highlights seven trends in the construction industry, including expected $6.7 trillion market by 2020.
Based on the analysis of 37 leading construction companies, Accenture sees the global marketplace changing rapidly and construction firms must be agile, efficient and customer-focused to stay ahead of the competition.
One specific trend standing out is the fact that the global construction industry in emerging markets is expected to double within a decade and will become a $6.7 trillion business by 2020. Growth will be fuelled by urbanization, globalization, infrastructure renewal and the burgeoning needs of developing “megacities”—especially in the rapidly emerging economies of Asia, Latin America, the Middle East, Africa and Eastern Europe.
What are the other trends that the players need to keep up with? See all seven trends in the construction industry: View the infographic [PDF, 414 KB].Read the full research.
Accenture applied its High Performance Business methodology to a peer group of 37 leading international construction and engineering groups, selected from diverse geographies and revealed three basic building blocks to sustain high performance in the construction industry.
The global construction industry is changing fast. More growth opportunities in emerging markets, new funding mechanisms, and evolving customer demands are driving the industry’s players to diversify, both geographically and in terms of their offerings.
To benefit from trends in the construction industry, Accenture recommends that companies look at adopting new construction industry strategies to better position themselves to manage the supply side and capture the increased demand.
January 28, 2013
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