Digital transformation is disrupting industries and global economies everywhere. E&C in particular is ripe for change, generating nearly $10 trillion in revenue, or about 6% of global GDP.
We’ve all heard how the Engineering and Construction (E&C) industry is one of the least digitalized; rated second-to-last after agriculture and hunting. However, is it true that all organizations within the E&C industry are lagging, or are some companies daring to innovate and digitalize?
Many of the world’s largest E&C influencers whom we work closely with are redefining the face of construction and global innovation by embracing technology. Their leadership will help establish a bold precedent of digital transformation for the rest of the industry to follow.
Imagine trying to explain modern E&C technology, materials, and resources available in the industry today to a construction worker from a century ago.
Their jaw might drop at today’s technical solutions: “You mean, you can store project information in the sky??”
Today’s technological advancements have empowered us to maximize our productivity compared to how we managed projects one hundred years ago. A megaproject (valued at US $1B or below) may have seemed daunting in the past, but we’re quickly adapting to a new normal. The giga project (valued at US $1B or more) encompasses even greater complexity, capital expenditures, and risk.
Enprode, a global engineering, construction and procurement (EPC) company specializing in combined-cycle power and gas plants, recently leveraged Aconex Connected BIM to advance an open cycle (soon to be combined-cycle) gas turbine power plant (Garri 3 and Port Sudan Project) in Sudan. Headquartered in Turkey, Enprode conducts business with major energy centers across the globe, spanning from South America to the Middle East.
Lagging productivity within the construction industry is nothing new.
For the past several decades, manufacturing has led the way by adopting technology and digitizing work processes to increase productivity. Meanwhile, over the past twenty years, the global average value added per hour in the E&C industry has grown roughly a quarter of the rate of manufacturing.
We wanted to take a moment and thank you for your support over the past year.
2017 has been remarkable for Aconex, and we hope it’s been just as fulfilling for you, your colleagues, and loved ones.
From our Aconex family to yours, we wish you a wonderful holiday season!
Here’s to a great year ahead.
-The Aconex team