While venture investors and technologists tend to focus on exciting new developments in construction technology, that technology cannot gain traction if industry players are unprepared to assimilate it. In two of our benchmarking surveys conducted this year, our Pre-Construction Benchmarking Survey and our Buildings Benchmarking Survey, we have identified important trends in the establishment, growth, and scope of the industry’s virtual design and construction groups. The implications for technology adoption in the engineering and construction industry are profound.
Our inaugural survey period, sample sizes were relatively small. In one case, we had 30 respondents, and in another, we had 27. A mix of engineering firms, specialty contractors, and general contractors, the firms were generally larger companies. 80% of the companies in our Buildings survey had more than 500 employees, while half of the respondents in our Pre-Construction Survey had more than 500 employees.
Looking at our Pre-Construction Survey results where 15 respondents had more than 500 employees and 15 had fewer than 500 employees, all respondents had at least one dedicated innovation professional. So, even smaller companies with fewer than…