HP Robot Accelerates Construction Industry During Productivity Crisis
HP News, Thursday, October 5,2023
HP's first 'State of Construction Productivity' study shows the construction industry is struggling with productivity and human resourcing challenges, despite accounting for nearly 10% of global GDP
The construction sector has lagged behind other industries with a mere 1% annual growth over the past two decades, according to McKinsey. For comparison, the manufacturing industry has delivered an average annual growth of 3.6% over the same period.2
The new HP study of construction professionals in the US, UK and Germany also found that nearly two-thirds of workers feel the sector is not close to solving this productivity conundrum. Meanwhile, 30% of respondents see productivity as the biggest issue facing the sector. But while 71% of respondents believe technology can solve the productivity crisis, only 3% of construction CIOs said productivity-boosting, on-site technology had been introduced at their firms in the last 12 months.