Construction firms lead the way in technology adoption in Asia Pacific

Procore Technologies Inc. revealed in its benchmark report ‘How We Build Now 2022 – Tracking technology in Asia Pacific Construction in 2022 some changes in the construction industry, the current market standing of the industry, the digital maturity and adoption of construction technologies, as well as the challenges and opportunities that businesses within their scope are facing.

The leading global provider of construction management software found that in the post- pandemic outlook, the construction industry is still facing significant drawbacks:

58 percent of the respondents found that the top challenge for them is the increase in cost of raw materials, followed by the safety of working environments at 44 percent of the respondents’ concern, and the increasing productivity at 40 percent.

However, 98 percent of the respondents, expressed confidence about industry conditions over the next 12 months, with an overwhelming majority also expecting an increase in the number or value of projects over the same timeline.

Germaine A. Reyes, CEO and Founder of Synergy Market Research + Strategic Consultancy and Bruce Wells, Vice President of Asia at Procore Technologies Inc., present the findings of the How We Build Now 2022 Philippines report.

Technology as solution for challenges

Twenty-six percent of construction businesses are already on the digital-first basis, with 56 percent being ‘well on the way’ in their digital transformation journey; two-thirds of Filipino construction decision makers reported an increase in their digital investments during the last two years.

Further research from Procore also found that 55 percent of Filipino respondents recognize the benefits of construction technology.

But the journey to total digital transformation cannot be achieved without obstacles.

Procore found through further research that there are concerns about data security, and the cost of totally jumping to digitization.

“A key issue with construction technology lies with a history of it being built by tech people, not construction people. This creates a mismatch of expectations between what businesses want technology to do, and what it can actually do,” said Bruce Wells, vice president of Procore Asia.

“As a cloud-based software provider created by construction professionals for construction professionals, Procore is rooted and solely dedicated to the advancement of the industry. Procore understands the pain points that the industry faces, and we build solutions to directly address them.”

The Future of Construction Technology in Philippines

Across the Asia Pacific region, Procore’s research found that the Philippines is a frontrunner on the “digital maturity curve” – with above average adoption rates for technologies from Internet of Things (IoT) to drones, telematics/asset-tracking to big data analytics.

Filipino construction decision makers expect technologies such as digital project management platforms, big data analytics and pre-fabrication, telematics/asset-tracking and traditional BIM, to drive changes in the next three years.


Manila attracts global data center investors

Manila continues to be an attractive destination for global data center investors amid digitalization, according to a report by Cushman and Wakefield.

NHMFC, Biñan City LGU and Baque Corporation kickstart 4PH in Southern Tagalog Region

The National Home Mortgage Finance Corporation (NHMFC) formally signed a Memorandum of Agreement with Baque Corporation in collaboration with the Local Government...

The Grand Midori Ortigas tower 2 showcases a harmony of elements

Discover a new way of living in the city where you can find harmony and balance as you pursue your life goals....

Why you should consider living in a township

The trend of building townships or master planned communities which embody the live, play, work lifestyle, has been a trend among the...

Making It Happen: “Rooftop Revolution” in Ph

A blessing. That is how I consider every opportunity to share ideas with movers and shakers of Philippine society....