What could the world of construction look like in 2030?
In the past few years the engineering and construction sector has faced COVID-19, supply chain disruption, material shortages, raging inflation, war in the Ukraine, and major talent gaps.
And these phenomena come on top of longstanding challenges of a variable performance record, poor productivity, inability to attract graduates, boom-and-bust economic cycles, low contractor margins, and continued lack of cost certainty for owners.
The sector is also under significant pressure to master data and analytics and deliver sustainable construction, buildings and infrastructure.
At this pivotal point in time, the October 2022 Engineering & Construction Risk Institute Risk Management Conference, in Athens, Greece, presented an ideal opportunity to discuss a way forward for the industry. In a special session, we were joined by some of the world’s leading engineering and construction minds to envisage a bright future.
Future trends in Construction by 2030
Predictions for 2030
Achieving a step change in project performance
Striving to improve productivity to deliver on-time, on-budget, high-quality projects.
Pushing the innovation envelope
Embracing innovation with open arms to become “data companies that build things”, encompassing modularization and standardization.
Risk management from a higher altitude
Aggregating risk at an enterprise level to gain a clearer view of portfolio risk.
Reliable and resilient supply chains
Suppliers become collaborators in strategic innovation, and localized sourcing and 3D printing aims to become widespread.
A sector in demand
Construction has become an industry of choice for graduates and school leavers, offering exciting careers on the cutting edge of technology.
ESG adoption drives investment
With circular production, sustainable buildings and high ethical standards, low-cost capital flows into projects.
How KPMG professionals can help
When engineering and construction leaders turn to KPMG firms for advice, they do so because KPMG professionals understand the industry at a local, national and global level. KPMG professionals provide strategic insights and relevant guidance where clients operate, delivered through the global organization of KPMG firms operating in 143 countries and territories with more than 265,00 partners and employees working around the world.