The Digital Black Hole

Impacting the Construction Industry

Companies in the construction industry still struggle to embrace technology

The McKinsey Global Institute’s Industry Digitization Index rated construction as the second least digitized sector in the world.1 With relatively few construction companies digitizing their assets, business processes and working practices, a ‘digital black hole’ has formed in the construction industry. 

It’s a widespread problem that attributes to some of the inefficiencies that cause large projects to run on average 20% longer to finish than scheduled and up to 80% over budget.1

However, digitizing asset management, including enabling equipment and tool tracking, presents an opportunity to help control costs, reduce losses and keep projects running on time.

To read more about how prioritizing digital technology can help enable quick actions to control costs, download our report on The Digital Black Hole Impacting the Construction Industry. 

Download the report