W e are passionate about what we do and about how our industry is evolving! In recent years, we have been observing major trends.

The construction industry is in the midst of major transformation around the world. Some call it a revolution. It is one of the sectors that is undergoing the fastest change.

A more robust key sector

Our industry contributes about $141 billion to the economy annually, accounting for 7.5% of Canadian GDP.1

In Canada and internationally, the observation is the same: productivity in the construction industry is stagnating. It must be improved exponentially to further boost the economy.

Across the board, industry players are com- mitted to this goal. By choice and, now, by necessity. We must take steps to rapidly moder- nize our activities in order, among other things, to respond to the vitality of today s market, recruit and retain skilled labour, create sustai- nable jobs, better protect the environment, and reduce our operating costs.

Projects are mushrooming. There s an urgent need to renew the country s infrastructure. In the wake of post-COVID-19 efforts to support the economy, Canadian governments are acce-

lerating their investments and will be allocating more than $180 billion to infrastructure over the next 10 years.2

As the economy overheats, costs are going through the roof. Even before the onset of the pandemic in 2020, the cost of raw materials such as steel and wood had started to climb, and this trend has only intensified.

The construction industry is also facing a serious labour shortage. In 2020, the Canadian Construction Association projected that 22% of workers would be retiring in the next decade. Companies are going to have to show ingenuity to ensure a diversified, competent and talented workforce from a technological standpoint.

Going digital

In just five years, we ve seen technology and off-site construction take on a preponderant role in enhancing industry performance.

The industry must innovate if it is to meet cur- rent challenges. The digital shift will eventually enable it to increase its productivity by up to 15% and reduce project costs by 4 to 6%.3

Some countries, such as the United Kingdom, are requiring builders to go digital and, in particu- lar, to use building data modeling a requirement that has not yet hit Canadian shores.

The era of improving productivity

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