Construction ERP Statistics 2023: Facts about Construction ERP outlines the context of what’s happening in the tech world.
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Top Construction ERP Statistics 2023
☰ Use “CTRL+F” to quickly find statistics. There are total 122 Construction Erp Statistics on this page 🙂Construction ERP “Latest” Statistics
- 94% of companies in the ERP construction sector claim that the availability of cloud-based resources has improved their security.[1]
- About 10% of all SaaS sales are produced each year by software for the construction and real estate industries.[1]
- The construction sector makes up only 3% of the businesses searching for an ERP system to satisfy their organizational demands.[1]
- 23% of businesses claim to be using lean construction methods, equipment, and off-site prefabrication to boost worksite performance.[2]
- Lack of information on site, according to 28% of UK construction businesses, is the largest problem affecting their efficiency.[2]
- 35% of construction professionals spend over 14 hours per week on nonproductive tasks including researching projects, resolving disputes, dealing with errors and redoing work.[2]
- The lack of employees to support the technology is cited by 35.2% of construction organizations as the main barrier to implementing new technologies.[2]
- 37% of construction enterprises claim that COVID-19 caused their businesses to miss their budget and/or planned performance goals.[2]
- 45% of construction professionals claim to have wasted more time than anticipated on unproductive tasks.[2]
- 33% of project owners and 50% of E&C companies want to continue construction while making large investments in technology that will improve the delivery of capital projects.[2]
- Good low turnover rates are reported by 56% of high-trust construction businesses, saving them up to $750,000 yearly.[2]
- Using software to handle safety and/or inspections during construction is highly valued by 60% of general contractors and tradespeople to improve the process.[2]
- The construction robot industry is expected to expand by 13.6% a year between 2021 and 2026.[2]
- 21.4% of construction companies employ three or more mobile applications.[2]
- Compared to typical stick-built construction, 90% of companies adopting prefabrication claim enhanced efficiency, higher quality, and greater schedule certainty.[2]
- Over 50% of engineering and construction experts claim that in the previous year, one or more projects underperformed.[2]
- Project closeout might result in the loss of up to 30% of the original data generated during the design and construction stages.[2]
- Design-induced rework may account for up to 70% of all rework encountered in construction and engineering goods.[2]
- 68% of engineering and construction professionals have a somewhat or very hopeful view of 2021.[3]
- Construction firms are seeking for the following qualities the most in project tracking 73%, job costing 72%, project estimating 66%, enhanced accuracy 47%, and process standardization automation 39% in construction management systems.[3]
- 70% of engineering and construction professionals, according to Deloitte 2021, think that infrastructure investments may assist the economy recover from the consequences of COVID-19 limitations.[3]
- The lack of at least one construction component, which is a problem for 54% of contractors, is something that E&C officials are trying to address.[3]
- 18% of small and medium-sized construction enterprises use drones.[3]
- 2019 saw a 12% increase in construction activity in Latin America as the region continues to recover.[3]
- Construction unemployment rates are close to the national average, at 4% and 5%, respectively.[3]
- Although construction starts decreased by 9% to $778 billion, they would have decreased by a total of 17% if it weren’t for the large increase in single.[4]
- If not for strong activity in the warehouse industry, the dodge momentum index, a leading indicator of nonresidential construction activity, ended 2020 48% below where it was at the end of 2019.[4]
- In comparison to the overall nonfarm employment, the construction industry has already gained back approximately 80% of the jobs lost between March and April.[4]
- 70% of construction firms report productivity that is lower than pre-pandemic levels or at the same level.[5]
- The Canadian construction industry’s labor productivity fell by 1.6% between 2018 and 2019, compared to a 0.5% decline in the country’s overall GDP.[5]
- According to statistics Canada, capital spending on nonresidential construction and machinery and equipment is anticipated to rise by 7% to $266.2 billion in 2021.[5]
- After declining by 3.4% in 2020, the Canadian construction sector is now expected to rise by 0.6% in 2021.[5]
- Despite reductions being recorded in six provinces, commercial construction increased by 1.5% in February 2020 to reach 3 billion.[5]
- To replace retirees and meet demand over the next ten years, up to 65,000 people will need to be employed in Ontario, where construction employment is projected to grow by 6% above 2020 construction workforce levels.[5]
- Increasing productivity and efficiency is cited by 64% of construction experts as one of the important success factors after.[5]
- By 2024, Canada’s construction industry will be valued at more than 430 billion dollars at a compound annual growth rate of 8.5%.[5]
- The overall value of construction permits increased by 8.2% to 9.9 billion, or 7.8 billion us dollars, on January 2021, setting a new high.[5]
- 79% of contractors questioned said they planned to use construction management software to monitor safety information securely.[6]
- Gadgets and applications are used on construction sites by 82% of general contractors and 72% of specialist contractors.[6]
Construction ERP “Building” Statistics
- Compared to standard commercial buildings, dodge data analytics LEED buildings have maintenance expenditures that are around 20% cheaper.[3]
- By the end of 2023, experts predict that the nonresidential green building category will have a CAGR of 9.25%.[3]
- Exterior goods, which account for 79.6% of the market size for the building industry, are dominant in this sector. Examples include smart lighting, solar products, and HVAC systems.[3]
- 26% of E&C executives are using prefabricated and modular building materials more often.[3]
- To increase productivity on building sites, 24% of E&C executives are investing in robots and drones.[3]
- In April 2021, investment in the building of single-family homes climbed by 8.9%, with all provinces except nova scotia reporting growth.[5]
- But 74% of contractors said they were satisfied with the capability of contemporary commercial building software.[6]
Construction ERP “Other” Statistics
- 17% of businesses looking at ERP solutions state that their goal is to boost company performance.[1]
- Nearly 21% of organizations fail to undertake their due diligence before pursuing this sort of opportunity, and 21% of ERP systems fail to produce meaningful commercial advantages.[1]
- SaaS is considered a feasible choice by 22% of businesses seeking competitive solutions in the ERP sector.[1]
- A consultant is hired by 27% of businesses deploying ERP solutions to assist them to manage the deployment.[1]
- 35% of businesses that successfully adopted their ERP said that the entire cost was 3% or less of their overall income.[1]
- 35% of these saas requests are from the distribution sector, and 29% are from the manufacturing industry.[1]
- 70% of businesses working to install ERP solutions think they will change up to 25% of the solution’s code.[1]
- 72% of businesses claim that they choose an on-site installation because they believe the danger of data loss is reduced by doing so.[1]
- 93% of companies who successfully deployed an ERP system claim that their business processes have improved in some way, if not all of them.[1]
- Nearly 30% of ERP users claim that their lack of system capability prevents them from providing their clients with the level of service they need.[1]
- The industry’s CAGR is anticipated to reach 7.9% through 2020 due to ERPs’ incentives including reduced operational expenses, inventory reduction, and improved improvisation within planned compliance.[1]
- Just 26% of businesses say they had a satisfactory or very satisfactory experience with their provider.[1]
- The primary justification given by 16% of businesses for implementing a new ERP was to update or replace an earlier version of a legacy system.[1]
- 41% of contractors said that data that is entered non-standardly is inconsistent, incorrect, incomplete, and useless.[2]
- 44% of businesses said that a lack of manpower contributed to the extension of the completion date for ongoing projects.[2]
- Time restrictions, according to 53% of contractors in the U.S., are the biggest threat to decisions.[2]
- On at least half of their projects, 53% of big general contractors use software to handle safety and/or inspections.[2]
- 60% of general contractors believe that poor contract document quality and challenges with project team member coordination and communication are the main causes of lower labor productivity.[2]
- Due to schedule slippage, 66% of general contractors are incurring additional expenditures from overtime and second shifts on at least 34 of their projects, with 50% of them requiring to extend the project’s finish date.[2]
- Problems leaving the job were reported by 68% of general contractors on at least 25% of their projects.[2]
- Poor contractor performance, according to 69% of owners, is the main cause of project underperformance.[2]
- When both direct and indirect effects are taken into account, 9% of the entire project cost is closer to the real total cost of rework.[2]
- 74% of respondents think that developing necessary skills and enticing fresh talent should be the top priorities.[3]
- Following the November 2020 U.S. elections, a survey of E&C executives revealed 76% of them want to invest in at least one digital technology in 2021.[3]
- 39% want to employ digital models and data as much as possible across operations, while 61% want to use new technologies at scale.[3]
- 76% of E&C decision-makers are investing more money in linked technology to address concerns with cost and margin.[3]
- In tests, human-operated excavators combined with autonomous vehicles have increased efficiency by 40% compared to traditional methods.[3]
- 77% of contractors and builders state that their profit margins have either remained the same or have decreased.[3]
- The residential sector continues to rule the market, accounting for 1234 million in 20.18 and holding a 60.9% worldwide share.[3]
- Budget cuts in administrative departments have been the largest thus far (43%), followed by those in human resources and marketing (25% and 22%).[7]
- 44% of businesses consider possibilities for expanding their ERP with a new system because it is rigid.[8]
- Only 44% of firms have technical issues with ERP, compared to 53% that have issues with functional transformation.[8]
- For CIOs, 92% of existing ERP systems are a bottleneck that often needs human programming intervention in order to facilitate data exchange.[8]
- 95% of firms see significant advantages after using ERP, which shortens turnaround times, boosts collaboration, and centralizes company data.[8]
- 40% of UK CIOs asked in an Accenture CIO study said that accessing, analyzing, and even using the company and customer data for improved decisions.[8]
- When using an ERP system, roughly 27% of company respondents express concern about a security breach.[8]
- 33% of firms think that in order to convert and retrieve ERP data, bespoke APIs are required.[8]
- With 35% of firms shifting away from legacy systems and 14% transitioning from their legacy system to an advanced ERP in 2019–2020, homegrown solutions are still common.[8]
- In the UK, 53% of CIOs want to use cutting-edge intelligent technology to expand their ERP solutions. The secret to managing all of your company operations and assisting your team in reaching a consensus is to use ERP software solutions.[8]
- Testing and other associated procedures may cause ERP projects’ budgets to increase by up to 50%.[8]
- Only 5% of businesses successfully utilize their ERP to produce and supplement high-quality data, which is essential for effective analytics and insights.[8]
- The personnel in the finance and accounting department and the IT department had the most effect on the purchase of ERP software, each with 23%.[8]
- The market for enterprise resource planning software is anticipated to reach $78.40 billion by 2026, expanding at a CAGR of 10.2% from 2019 to 2026.[8]
- Increasing efficiency is the primary justification for using an ERP, followed by cost savings (29%).[8]
- The global ERP software industry generates more than $25 billion annually and is expanding by 10-20% annually.[8]
- In contrast, housing investment only had a steep dip of 35.6% in the second quarter of 2020. Since then, it has vigorously recovered.[4]
- Fixed business investment in equipment increased by an annualized 16.7%, while company investment in items with intellectual property increased by 10.1% in the most recent quarter.[4]
- Once the economy starts to recover in 2021, it is doubtful that the birth rate and the number of births would suddenly reverse course.[4]
- Utility-scale renewable energy projects, mostly wind and solar, have started about 60% of all new electric generating during the last ten years.[4]
- Spending on machinery and equipment is expected to increase by 91 billion, almost offsetting the 13.4% fall seen in 2020.[5]
- In April 2021, spending on multifamily housing development surged by 7.2% to 6.7 billion, with Quebec reporting the biggest gain.[5]
- Construction labor productivity growth during the previous two decades averaged barely 1% per year, compared to 2.8% for the global economy as a whole.[5]
- Better functionality was cited as the top motivation for deploying an ERP system by 84% of users, who anticipated spending less on the system than 40% of businesses did.[9]
- A wider shift toward more personalisation in ERP systems results in a significant number of ERP operations that will soon be replaced by ai and machine learning, according to almost 80% of IT developers.[9]
- A wider shift toward more personalisation in ERP systems results from 82% of UK CIOs preferring to employ UI overlays or customized ERP solutions.[9]
- By 2022, 53% of UK CIOs will be seeking more intelligent ERP systems that include automation, machine learning, and artificial intelligence, according to a Gartner survey.[9]
- By 2022, according to a Gartner estimate. Artificial intelligence will be included in ERP systems, according to 65% of CIOs.[9]
- ERP installation after 93% of firms rate their ERP initiatives as successful.[9]
- Cloud installations account for 44% of all implementations for survey respondents in manufacturing and distribution, according to a worldwide study of ERP users.[9]
- The ERP market in Asia Pacific is predicted to grow over the following five years, there will be a projected CAGR of over 8% for the expansion of the global market.[9]
- A cumulative annual growth rate of 9.8% is predicted for the Asia Pacific ERP market through 2027.[9]
- By 2022 sixty-four businesses utilize saas, according to a global study of ERP users. Only 15% utilize on-premises ERP, while 21% use cloud ERP.[9]
- ERPs improved processes for 95% of businesses.[9]
- According to 53% of IT decision-makers in a recent poll, ERP systems are a significant investment and need to be given high priority.[9]
- An increase in the project’s original scope was the main a third of businesses discuss ERP deployment before choosing the system, 56% do so throughout the choice process, and 13% do so just before going live.[9]
- The cost of maintaining an ERP system for major businesses with yearly sales above $1 billion is 23% of that amount.[9]
- Subscriptions to the cloud for corporate applications will account for according to the same survey, corporate applications for cloud-based ERP systems grew by 21% on the public cloud in 2018.[9]
- The global ERP software market expanded by 9% in 2019, resulting in global software sales of over 39 billion.[9]
- 67% of distributors and manufacturers said their implementations were effective or very successful.[9]
- 50% of businesses want to purchase upgraded ERP systems shortly.[9]
- Accounting was cited by 89% of businesses considering buying ERP software as the most important ERP function.[9]
- Cameras are often used on smart devices by 38% of speciality contractors and 79% of general contractors.[6]
- 71% of general contractors and 91% of specialist contractors ranked payroll and labor hours as one of their top demands.[6]
- The capacity to obtain correct data from the field was ranked as the most critical capability that has to be enhanced over the next three years by contractors, with 54% of them choosing this as their top priority.[6]
- Information about the progress of a project, such as job costs both general contractors (93%).[6]
- While 71% of general contractors and 87% of specialist contractors listed productivity data as one of their top data goals, productivity data came in third.[6]
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How Useful is Construction Erp
One of the biggest advantages of Construction ERP systems is their ability to increase efficiency and productivity within a construction company. By providing a centralized platform for data and communication, these systems can help teams collaborate more effectively, leading to smoother and more successful projects. With features such as project scheduling, resource management, budget tracking, and document management, Construction ERP systems can help companies stay organized and on track.
In addition to improving efficiency, Construction ERP systems also offer a way to reduce costs and increase profitability. By providing tools for procurement and inventory management, these systems can help companies negotiate better pricing with vendors, manage budgets more effectively, and avoid costly delays or mistakes. With real-time data and analytics, businesses can make more informed decisions and optimize their resources for maximum results.
Another key benefit of Construction ERP systems is their ability to improve visibility and transparency within a company. With instant access to project data, financials, and performance metrics, managers can stay informed on the status of projects in real-time. This level of insight can help companies identify areas for improvement, address issues before they escalate, and make strategic decisions based on data-driven insights.
Furthermore, Construction ERP systems can enhance collaboration both internally and externally. With features such as document sharing, communication tools, and project portals, teams can work together more seamlessly and efficiently. This can lead to improved communication, reduced misunderstandings, and enhanced teamwork, ultimately resulting in better project outcomes.
In today’s competitive construction industry, staying ahead of the curve is essential for success. Construction ERP systems offer companies a competitive edge by providing them with the tools they need to navigate the complexities of modern construction projects. By leveraging data, streamlining processes, and improving communication, companies can improve their bottom line and deliver better results to clients.
While Construction ERP systems have their advantages, they are not without their challenges. Implementation can be complex and time-consuming, requiring companies to invest in training, change management, and ongoing support. Additionally, these systems may not be suitable for all construction companies, especially smaller firms with limited resources or simpler project needs.
Overall, the usefulness of Construction ERP systems ultimately depends on the specific needs and goals of a construction company. For companies looking to improve efficiency, reduce costs, and increase profitability, these platforms can be a valuable investment. By providing a centralized platform for project management, financials, and communications, Construction ERP systems can help companies stay ahead of the competition and deliver successful projects to clients.
Reference
- brandongaille – https://brandongaille.com/25-erp-construction-industry-statistics-trends-analysis/
- autodesk – https://constructionblog.autodesk.com/construction-industry-statistics/
- financesonline – https://financesonline.com/construction-industry-statistics/
- construction – https://www.construction.com/
- jonasconstruction – https://www.jonasconstruction.com/blog/canada-construction-statistics/
- viewpoint – https://www.viewpoint.com/blog/5-intriguing-stats-on-construction-data-and-the-jobsite
- gocodes – https://gocodes.com/construction-industry-statistics/
- g2 – https://learn.g2.com/erp-statistics
- netsuite – https://www.netsuite.com/portal/resource/articles/erp/erp-statistics.shtml