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 28, 2018
Top 150 Multifamily Architecture + AE Firms [2018 Giants 300 Report]
Humphreys & Partners, KTGY, and SCB top Building Design+Construction's ranking of the nation's largest multifamily sector architecture and architecture/engineering (AE) firms, as featured in the 2018 Giants 300 Report.
Giants 400 | Aug 28, 2018
Top 105 University Contractors + CM Firms [2018 Giants 300 Report]
Turner, Whiting-Turner, and Gilbane lead Building Design+Construction's ranking of the nation's largest university sector contractors and construction management (CM) firms, as featured in the 2018 Giants 300 Report.
Giants 400 | Aug 28, 2018
Top 90 University Engineering + EA Firms [2018 Giants 300 Report]
WSP, Jacobs, and Affiliated Engineers head Building Design+Construction's ranking of the nation's largest university sector engineering and engineering/architecture (EA) firms, as featured in the 2018 Giants 300 Report.
Giants 400 | Aug 28, 2018
Top 175 University Architecture + AE Firms [2018 Giants 300 Report]
Gensler, Perkins+Will, and CannonDesign top Building Design+Construction's ranking of the nation's largest university sector architecture and architecture/engineering (AE) firms, as featured in the 2018 Giants 300 Report.
Giants 400 | Aug 28, 2018
Top 80 Construction Management Firms [2018 Giants 300 Report]
Jacobs, JLL, and Hill International head Building Design+Construction's ranking of the nation's largest construction management and project management firms (CM+PM), as featured in the 2018 Giants 300 Report.
Giants 400 | Aug 28, 2018
Top 130 Contractors [2018 Giants 300 Report]
Turner, Skanska, Whiting-Turner, and AECOM top Building Design+Construction's ranking of the nation's largest general contractors and CM at risk firms, as featured in the 2018 Giants 300 Report
Giants 400 | Aug 28, 2018
Top 35 Engineering/Architecture Firms [2018 Giants 300 Report]
Jacobs, AECOM, and Burns & McDonnell head Building Design+Construction's ranking of the nation's largest engineering/architecture (EA) firms, as featured in the 2018 Giants 300 Report.
Giants 400 | Aug 28, 2018
Top 70 Engineering Firms [2018 Giants 300 Report]
WSP, Fluor, and Arup head Building Design+Construction's ranking of the nation's largest engineering firms, as featured in the 2018 Giants 300 Report.
Giants 400 | Aug 28, 2018
Top 110 Architecture/Engineering Firms [2018 Giants 300 Report]
Stantec, HOK, and HDR top Building Design+Construction's ranking of the nation's largest architecture/engineering (AE) firms, as featured in the 2018 Giants 300 Report.
Giants 400 | Aug 8, 2018
Top 150 Architecture Firms [2018 Giants 300 Report]
Gensler, Perkins+Will, and HKS top Building Design+Construction's ranking of the nation's largest architecture firms, as featured in the 2018 Giants 300 Report.