21st out of 22: Next to Last Place
"When we look at all industries and sectors, by and large, everyone has figured out how to use software and computing to be more effective. When you look at construction, we're spending less than 1% of revenues on software while our counterparts in aerospace and manufacturing are spending close to 3.5 to 4.5%. Over the last 20 years, everyone else figured out how to be twice as productive while construction has not only flat lined but declined." Tracy Young, CEO of PlanGrid
A recent publication from CB Insights on Construction Tech crossed our desks.Construction Tech and Infrastructure Boom. While infrastructure spending is on a tear...growing to $1.1 trillion back in 2016...construction professionals are trailing the entire US economy in digitization. That includes electrical professionals.
In terms of using software, the Construction Industry is behind the times. As indicated in the McKinsey Report above, the only industry lower is Agriculture and Hunting. The seminar leaders attribute this low rank to budget concerns and less tech savvy workers.
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