Procore Report Reveals PH Construction Firms Lead Technology Adoption in the Asia Pacific

Procore Technologies Inc, a leading global provider of construction management software, released its benchmark report entitled ‘How We Build Now 2022 – Tracking technology in Asia Pacific Construction in 2022’ which spans five markets in the Asia Pacific and gathered insights from more than 1,100 respondents within the construction industry, the report examines the general sentiment of the industry, the digital maturity, and adoption of construction technologies, as well as the challenges and opportunities that businesses face.

According to the report, the construction industry continues to face significant headwinds, with the top challenges cited being the increasing cost of raw materials and equipment (58%), maintaining safe working environments (44%), and increasing productivity (40%).

However, almost all (98%) respondents in the Philippines expressed confidence about industry conditions over the next 12 months, with an overwhelming majority also expecting an increase in the number (80%) or value (75%) of projects over the same timeframe.

The report says that construction firms in the Philippines understand that digital transformation is required to overcome these challenges, with 26% of construction businesses already being digital-first and 56% being ‘well on the way’ in their digital transformation journey.

Two in three (65%) Filipino construction decision-makers reported an increase in their digital investments during the last 24 months. Further research from Procore also found that Filipino respondents recognize the benefits of construction technology, in particular the reduced reliance on human labor (55%), the ability to handle more projects (54%), and resource efficiency through less rework (53%).

However, the digital transformation journey is not without obstacles. Among those who expect challenges, Procore found through further research that the top barriers of digital transformation include changing established behaviors (44%) and overcoming concerns around data security (43%). These are followed by the costs involved to transform digitally, inadequate software solutions, and a lack of support from technology providers and vendors (38% each).