Chapter 8.2
Widespread adoption signals a market trend
Markets don’t lie, and the numbers back it up.
Digital procurement has widespread adoption in rapid time since inception.
The catalyst? Increasing project size, complexity and macroeconomic volatility has driven construction firms to seek greater control in managing supply chains.
Why Australia is a leading indicator
Australia is a known incubator and leader in Construction-Technology, where high labour costs have driven early adoption.
It’s often a leading indicator for trends in other regions. Australia ranks third globally behind the USA and India for Con-Tech unicorns - significant given its population.
Pioneers span the construction lifecycle, from document control (Aconex) to progress payments (Payapps) and health & safety (Hammertech).
The UK following suit
With the introduction of digital procurement in 2024, the UK is showing the same growth patterns.
A critical mass of contractors have embraced digital procurement, signalling the trend taking hold.
The need for supply chain control is cross the chasm, from curiosity to necessity.
The global picture
The sector is projected to grow to a value of $13.9 trillion by 2037.
Same macro drivers apply across developed construction markets worldwide: pressure on labour, razor thin margins, and the urgent need for improvements in productivity.
Digital procurement isn’t a matter of it, but when - becoming table stakes for the modern construction firm, in the eyes of business leaders, commercial staff and the supply chain.
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