Most construction firms worldwide (58%) are in the earliest stages of their DX journey, while 28% are in the middle and 13% are in the most mature stages, according to a study by IDC and Autodesk.
The survey covered 835 construction professionals from large construction companies in countries across Europe, the Americas and Asia Pacific.
Findings show that Singapore is among top five countries in that region investing in digital technologies, behind Japan, Australia and New Zealand.
Globally, Japan leads as one of the top three most digitally mature countries, alongside Germany and the United States.
While 69% of construction companies in APJ are prioritising DX to drive changes to their processes, business models and/or ecosystems, many are struggling to unlock its full potential. Less than two-thirds (64%) of the firms in APJ are still in stages 1 or 2 of their DX journeys, and a mere 1 percent in stage 5 (most mature).
Within the region, Singapore has been identified as digitally mature having reached stages 1 and 2, but there is still opportunity to improve in order to reach stages 3, 4, and 5.
In Singapore, 45% of organisations spend up to 10% of their annual turnover on technologies, and 22.4% spend up to 15%.
Singapore’s top 3 challenges were identified as data security, lack of effective risk management, and outdated technologies.
The survey found that a key indicator of DX maturity is the adoption of Building Information Modelling (BIM), an advanced digital modelling tool for architecture, engineering and construction, but only 43% of Singapore companies are currently investing in the technology.
“The APAC construction sector is at a crucial stage in its digital evolution; it is poised for growth, but companies must first take full advantage of the technologies available in order to transform,” said Matthew Dewees, ASEAN Head of Architecture, Engineering, Construction, and Media & Entertainment at Autodesk.
“In Singapore, for instance, only two percent of organisations have automated most of their manual processes despite strong governmental and industry push for digitalisation,” said Dewees.