The building blocks for a world that runs on digital technologies are—not surprisingly—digital. Yet, in a $10 trillion industry being upended by digital entrants, many construction companies have not transitioned to digital as the mainstay of their business.
Moving to a digital model is essential for future survival as connected homes, smart factories and offices, and consumers who demand sustainable construction at the right price point become more prevalent.
READ THE REPORT [PDF]Customers want a connection. No longer do construction customers want just an attractive, climate-controlled building. Instead, they demand infrastructure that minds their safety; provides real-time information, guidance and entertainment; and not only manages emissions but generates sustainable energy. To make any or all of these services a reality, a digital infrastructure is necessary.
Connected worksites mean better EBITDA. Partial digitization can unlock an additional 50 percent earnings before interest, taxes, depreciation and amortization (EBITDA) across a typical construction company’s operations by 2020. Half to 70 percent of the benefits unlocked relate to connected worksites.
Partnerships with niche players are key. No large construction company can house the digital know-how and talent required to cover all aspects of connected buildings, smart homes and sites. Companies that want to lead will form an ecosystem of niche players who specialize in the digital products and services they need to deliver on consumers’ construction demands.
Split focus
Winning in the new era of digital construction requires a two-pronged approach: change the way you operate by digitizing your existing business while simultaneously creating new business models that will counter the cannibalization of traditional core markets.
Invest in disruptive technology
From wearables to drones, upping your new tech IQ gives competitive advantage.
Grow digital partnerships
Focus on your core capabilities while helping to build digital expertise with partners who specialize in what you need.
Emilio Móstoles
Managing Director – Accenture Strategy,
Industrial & Travel
Pedro Castaño
Managing Director – Accenture Strategy,
Industrial & Travel
Jurgen Coppens
Managing Director – Accenture Strategy,
Health & Public Service