KPMG - Global Construction Survey, 2023

The 2023 Global Construction Survey by KPMG provides insights into the engineering and construction industry, highlighting new opportunities and challenges on the horizon. The report covers a wide range of topics, including the impact of technology on the industry, the effects of inflation and labor shortages, and the shift towards Environmental, Social, and Governance (ESG) practices in construction and infrastructure. One of the main takeaways from the report is the cautious optimism surrounding the industry, with many respondents expressing excitement about the prospect of government funding and investment in large-scale infrastructure programs. However, the looming specter of big tech and the threat of convergence pose significant challenges for traditional players in the industry. The report also highlights the impact of rising inflation and labor shortages on certain subsectors of the industry, with many respondents expressing concern about the availability of skilled labor and the rising cost of materials. Additionally, the shift towards ESG practices is seen as both a potential benefit and risk for the industry, with many respondents expressing the need for greater transparency and accountability in construction and infrastructure projects. Overall, the report provides a comprehensive overview of the current state of the engineering and construction industry and offers insights into the opportunities and challenges that lie ahead.