Asia Pacific is set to witness infrastructure and construction boom in the coming years with healthy spread of projects.
Responsible for the fundamental foundations of a thriving economy, the construction industry provides the building blocks for a community.
Data is fast becoming the core of the construction industry. Engineering and construction firms are racing to create data and analytics strategies to identify and predict problems in project delivery, reduce operational costs and resources, and manage increasingly complex projects such as the smart cities and buildings of the future.
It’s a fantastic time to work in construction. Because China, Indonesia, India, and Malaysia are emerging markets, the Asia Pacific construction market is growing strong and is expected to continue to do so over the next six years. This construction industry expansion translates into an increase in demand of heavy-lifting equipment. Today, the Asia Pacific construction market (excluding India) is worth $6.76tn SGD and is projected to reach $7.44tn SGD by 2021.
Talent remains a critical challenge as labour shortages reach a crisis proportion. According to the Asia Pacific Employment and Social Outlook report from International Labour Organisation, in total since 2000, 740 million jobs were gained in the services sector. The gain of 108 million jobs in industry, most of which were in the construction sector, was more modest by comparison.
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