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BY THE NUMBERS
Stats on Key External and Internal Industry Trends
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THE PINACLE EXPERIENCE 2024
Elevating Marketing Leadership to the Next Level
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ACKNOWLEDGEMENT: CHAPTER PRESIDENTS
Inspiring Professionals, Driving Excellence: Our Chapter Presidents at the Helm
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ACKNOWLEDGEMENT: LEADERSHIP
Honoring Volunteerism: Celebrating the Leaders Who Drive SMPS Forward
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SMPS CONNECTIONS
Building a Career in A/E/C Runs in the Family
“Building Resilience, AEC’s Path Beyond 2025”, an SMPS Foundation industry trends report based on the Foundation Roundtable discussions at Amplify 2024, identifies workforce, technology, sustainability, and strategy as the top four categories that are driving change in the A/E/C industries.
Below are statistics that scratch the surface of internal and external drivers in these categories. The numbers are presented as a 5-year comparison. General U.S. statistics were gathered from the U.S. Census Bureau and the Bureau of Labor Statistics. Comparisons are for 2019 and 2024. Architecture and engineering industry statistics were gathered from Deltek’s 40th and 45th Annual Clarity Studies; comparisons are for 2018 and 2023. Deltek’s 46th Annual Clarity Study with 2024 stats will be released in the spring of 2025.
A 25% inflation rate from 2019 to 2024 is arguably the greatest factor impacting A/E/C firms. High inflation, in combination with a limited workforce, is driving firms in our industry to turn to technology to bridge the resources gap while continuing to deliver excellence amidst ever-present competition. A/E firms are investing more in talent acquisition. Carving out time to nurture client relationships has become more challenging. A higher percentage of A/E firms use a formal go no/go process, indicating that strategy has become increasingly important. For A/E firms, utilization, and win rates are flat from 2018 to 2023. This is likely a key pressure point. It will be interesting to see if Deltk’s 46th Clarity Study indicates a positive impact of AI on work efficiency and proposal win rates.
A general positive indicator from 2019 to 2024 is the high growth in construction spending, even with adjustments for inflation. This growth is driven in part by the $1.2T IIJA funding. It is also fueled by the increased need for data centers and the drive to electrify the built environment.
US Statistics
Value of a dollar in Oct 2019 vs Oct 2024.1
Construction spending Jan-Sep 2019 vs
Jan-Sep 2024 (adjusted for inflation).2
Growth in Electrical Consumption: In a 2018 study conducted by NREL on the demand-side impacts of an electrified future, electrical energy usage remained flat in the decade between 2004 and 2024, with a 32% increase projected in 2030.3
Number of unemployed per job opening (nationwide).4
Number of employed in the U.S. workforce.5
Architecture and Engineering Firm Statistics
Top financial concerns: Increasing spending for talent acquisition and retention.6,7
Median Utilization Rate.6,7
Net Revenue Per Employee in 2018 vs. 2023.6,7
Importance of AI to your firm’s business in 2018 vs. 2023.6,7
How might AI impact win rates?
Will we see an increase in win rates in
the Deltek 2024 Clarity Study?6,7
Top business development challenge:
finding time to nurture client relationships.6,7
Strategy: Formal go no/go process.6,7
Sources:
6. Deltek 40th Annual Clarity Study: No longer available online, from PDF archive
Clare Kelly, MS, CPSM, is Principal Consultant at FUSE Marketing and a member of SMPS Colorado. She is an insightful, multi-disciplined marketer for firms that impact the built environment. Clare aligns thoughtful marketing strategies and tactics to each client's unique business development goals. She brings a never-ending curiosity to client relationships and projects, seeking to uncover opportunities and create a spark that will ignite growth for all.
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