Despite economic uncertainty, nine out of 10 Canadian construction companies are confident about industry conditions over the next 12 months, according to a new Procore survey.
The How We Build Now: Technology and industry trends shaping Canadian construction in 2023 report examined the general sentiment of the industry, the digital maturity and adoption of construction technologies, as well as the challenges and opportunities that businesses face.
“We are encouraged to see the Canadian construction industry’s leaders express optimism as they look to consolidate and build on post-pandemic progress,” said Nolan Frazier, regional sales director, Canada, Procore.
The survey was conducted by independent research company Censuswide. A total of 502 construction decision-makers and influencers across Canada participated in the report.
- 29 per cent report they have been unable to take on more projects in the past three to six months due to labour shortage.
- 27 per cent agree it is hard for construction to compete with other industries for good employees.
- 27 per cent agree there is too much competition in construction for talent.
- 32 per cent fear that some of their most experienced people will retire within the next few years and take valuable knowledge with them.
Despite some fundamental labour challenges, respondents are optimistic about the future. Approximately 8 in 10 are confident they will have enough people to meet their organizational needs (79 per cent) and the necessary skills to meet demand (80 per cent) over the next 12 months
Respondents rate construction management platforms, clean technologies involving green, sustainable or innovative materials, and next generation BIM as the top technologies that will drive change in the construction industry over the next three years.
- Over half of respondents (56 per cent) are either currently using (29 per cent) or plan to adopt a construction management platform (27 per cent) over the next 12 months
- More than six out of 10 (62 per cent) of Canadian organizations are either currently using (26 per cent) or plan to adopt (36 per cent) clean technologies over the next 12 months
“In particular, this survey shows half of the respondents see a need to embrace greater collaboration in projects among stakeholders; half of them are also well on their way in their digital transformation journey. Some also recognize the opportunity to leverage the massive amounts of data generated through the use of technology to make more data-driven decisions across every phase of the construction life cycle. Ultimately, smarter construction empowers construction businesses to have better control of their projects and deliver higher quality builds,” said Frazier.
For more information, download the full report.
