Unanet, the leading provider of project-based enterprise resource planning (ERP) and customer relationship management (CRM) for the architecture, engineering, and construction (AEC) industries, unveiled its 2024 AEC Inspire Report, a comprehensive survey detailing industry insights, best practices, and benchmarks from more than 300 AEC leaders in the first quarter of this year. The report finds high optimism for growth and expansion among 86% of all small, mid-sized, and large AEC firms.
In the report, most firms anticipate an increase in proposal win rates, which will spur profits and growth. Those most confident in their future are firms that leverage technology because they have keen insights into all aspects of their company's resources, projects, and pipelines. These firms feel more solid in their ability to weather challenges and economic unpredictability, while also having greater confidence in their ability to forecast their business and manage resources.
"The 2024 AEC Inspire Report underscores the importance of using modern, purpose-built tech tools," said Akshay Mahajan, executive vice president, AEC, for Unanet. "While many firms have a positive outlook for the future, the firms that know how to harness and leverage their data will be able to turn this potential into reality. Integrating modern tech is essential – not just to survive but to thrive."
Strong data management is critical to forecasting and firm decision-making. Yet about half of firms surveyed (49%) report that their data management tools are insufficient, despite a growing recognition of the importance of data stewardship, particularly for AI, which is rapidly proliferating. Construction firms are leading the way in smart AI adoption, with 41% using AI with oversight policies in place, compared to 18% of architecture firms and 23% of engineering firms. Many AEC firms report using AI but having no policies in place to guide its use, which can produce suboptimal results.
AI-mature firms more frequently cite data availability as a key to their digital transformation than their less AI-advanced counterparts. This illustrates how data readiness—or the lack thereof—is among the biggest deficits for AEC firms.
"The bottom line is, tech-advanced firms that empower their teams with cutting-edge tools like AI are best-positioned to accelerate growth and achieve unprecedented success," continued Mahajan.
This year's AEC Inspire Report survey respondents comprised 337 senior-level professionals from AEC organizations. Responses were segmented by primary industry into architecture, engineering, or construction, with some respondents indicating involvement in two or more industries (i.e., multidisciplinary). Respondents were screened for function, role, employee size, and annual revenue.
To download the full report, visit https://info.unanet.com/aec-inspire-report-2024.
