Construction ERP Statistics 2024 – Everything You Need to Know

Construction ERP Statistics 2023: Facts about Construction ERP outlines the context of what’s happening in the tech world.

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On this page, you’ll learn about the following:

Top Construction ERP Statistics 2023

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]

How Useful is Construction Erp

One of the key benefits of construction ERP is its ability to centralize all project data into a single platform. This allows all team members, from the project managers to the construction workers, to have access to critical information at their fingertips. Whether it’s tracking project timelines, managing budgets, or monitoring resource allocation, construction ERP ensures that everyone is on the same page and working towards a common goal.

Additionally, construction ERP software increases transparency and accountability within a project. By accurately tracking progress, costs, and resource utilization, companies can make informed decisions to ensure that projects stay on budget and on schedule. This level of visibility is crucial for successful project management, as it allows for quick adjustments and minimizes the risk of delays or cost overruns.

Moreover, construction ERP software provides a higher level of accuracy when it comes to financial management. With features like budget forecasting, expense tracking, and invoicing capabilities, companies can keep a close eye on their financial health throughout the duration of a project. This level of financial control ensures that projects are profitable and that resources are being utilized efficiently.

Another major advantage of construction ERP software is its ability to automate tedious processes and eliminate manual errors. By digitizing workflows and integrating disparate systems, companies can streamline operations and reduce the risk of human error. This not only saves time and money but also improves overall project quality and client satisfaction.

Furthermore, construction ERP software promotes collaboration among team members, subcontractors, and stakeholders. With features like document management, communication tools, and task assignment capabilities, ERP software facilitates seamless collaboration and information sharing. This level of connectivity ensures that everyone is working towards a common goal and enables better decision-making throughout a project.

In conclusion, construction ERP software is a valuable tool for companies looking to improve project management, streamline operations, and increase profitability. With its ability to centralize data, increase transparency, enhance financial control, automate processes, and promote collaboration, ERP software is a must-have for construction companies looking to stay competitive in today’s rapidly evolving industry. By investing in a quality construction ERP solution, companies can expect to see improvements in efficiency, accuracy, and overall project success.

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