Digital in Engineering and Construction: The Transformative Power of Building Information Modeling
With annual revenues of nearly $10 trillion, or about 6% of global GDP, the engineering and construction industry is the cornerstone of the world’s economy.
The industry is ripe for change: labour productivity in construction has been stagnating for decades and companies have been slow to adapt to new challenges and innovate. The whole industry is about to be transformed, however, by digital technologies, with BIM at their core.
Digital in Engineering and Construction: The Transformative Power of Building Information Modeling was produced to explain that individual companies that ignore digital transformation will struggle to survive. For the adopters, speed matters: there is only a narrow window of time during which a digital savvy outlook provides a significant competitive advantage over the average industry participant.
This report outlines the main technological advances that will soon transform the engineering and construction industry and highlights the crucial digital opportunities along the asset lifecycle. It assesses the overall impact of technological transformation through three case studies and explores the implications for stakeholders.