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Industry Landscape
The Architecture, Engineering, and Construction (AEC) industry is experiencing steady growth, driven by infrastructure investments, residential and commercial development, and a growing emphasis on sustainable and resilient design. Digital transformation, including BIM and AI, is rapidly changing practices, enhancing efficiency and collaboration. Labor shortages and supply chain disruptions remain key challenges, alongside rising material costs. The industry is adapting to new client demands for integrated services and innovative solutions.
Total Assets Under Management (AUM)
Construction Spending in United States
~Approximately 2.1 trillion USD (Private & Public Construction)
(1.0% (February 2024 vs. January 2024) and 10.7% (February 2024 vs. February 2023) CAGR)
- Private construction: increased by 0.7% (February 2024).
- Public construction: increased by 1.8% (February 2024).
- Total construction spending: up 10.7% year-over-year (Feb 2023 to Feb 2024).
Total Addressable Market
1.6 trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Digital Twins
Digital Twins are virtual replicas of physical buildings and infrastructure, enabling real-time monitoring, simulation, and predictive maintenance throughout the lifecycle.
Generative Design
Generative Design uses AI algorithms to rapidly explore and generate numerous design solutions based on specified parameters, optimizing for performance, cost, and sustainability.
Advanced Prefabrication & Modular Construction
This involves manufacturing building components or entire modules off-site in a controlled environment, leading to faster construction times, reduced waste, and improved quality.
Impactful Policy Frameworks
Infrastructure Investment and Jobs Act (IIJA) (2021)
The Bipartisan Infrastructure Law, enacted in 2021, allocates significant federal funding over five years to improve roads, bridges, public transit, water infrastructure, broadband internet, and clean energy projects across the U.S.
This policy directly increases the pipeline of public sector projects, offering substantial opportunities for Berners Schober in municipal and infrastructure design.
Inflation Reduction Act (IRA) (2022)
The Inflation Reduction Act of 2022 includes substantial tax credits and incentives for clean energy, energy efficiency, and sustainable building practices, aiming to reduce carbon emissions.
This incentivizes clients to pursue more sustainable and energy-efficient designs, aligning with Berners Schober's experience in LEED certification and promoting demand for their sustainable design expertise.
Building Resilient Infrastructure and Communities (BRIC) Program (Ongoing)
FEMA's BRIC program, annually updated, provides funding to states, local communities, tribes, and territories for eligible hazard mitigation activities, fostering overall community resilience.
This encourages clients to invest in resilient and adaptive designs, creating opportunities for Berners Schober to offer specialized services for climate-resilient construction and renovations.
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