Technology the key to Australian construction industry rebound

With Australia’s economy now shifting strongly from recovery to expansion as a result of a recovery in housing construction in early 2021 the construction sector is poised to expand significantly and investment in communications technology will be a critical enabler of this growth, according to research released today by Optus Business.

The Construction Industry Pulse report compiles insights from 400 respondents in the Australian construction industry and demonstrates how investments in technology will be critical for helping businesses achieve their goals for 2021 and beyond.

The report found that despite the economic and resource challenges of 2020, confidence amongst construction business owners was rated ‘high’ with larger organisations – employing between 200 and 300 staff – the most optimistic about their prospects for the next 12 months, with 32% being ‘very confident’ in their financial growth.

The top three nominated areas for investment and growth in the next financial year were staff training, salary increases, and business technology. These investments would be made in support of strategy, personalised solutions, and the ongoing use of interactive documents.

Read more at The Optus Business Construction Industry Pulse Report