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August 2022 Trends

Parul Dubey on July 29, 2022 - in News, Trends

In this section, Informed Infrastructure compiles infographics from trusted sources that reveal insight on infrastructure spending. We also compile some of the top infrastructure stories that shouldn’t be missed. For ongoing news coverage, turn to Informed Infrastructure online (www.informedinfrastructure.com), our Twitter feed (@IInfrastructure) and our weekly e-newsletter.

According to a recent study from market research firm Graphical Research, the North America digital twin market forecast is likely to witness increased demand from multiple industrial sectors through the next five years.

By 2026, the digital twin market in North America is expected to be worth $1.5 billion, accelerated by the fast-paced digitalization across automotive, healthcare and manufacturing industries. These industries have been leveraging IIoT sensors across a host of applications due to their cost-effectivity and high efficiency. The deployment of connected devices across smart factories and other commercial spaces has been fulfilling the need for predictive analytics and real-time monitoring.

Read the full report at bit.ly/3c4O6Ui.

Optimism shone through the numbers in the final 2021 Trimble Viewpoint Construction Metrics Index; but as the year-over-year numbers rolled in from the first quarter of 2022, it was clear that anticipation has cooled. However, there’s still a lot of upward momentum to be found in the quarter-over-quarter construction metrics from Q1 2022.

Hiring is up across the industry, regionally and by vertical. Cash flow also increased substantially, demonstrating that contractors are likely gearing up to launch new projects, many of which are coming online as part of the recently passed $1 trillion-plus Bipartisan Infrastructure Law.

New projects also were up quarter-over-quarter, yet still down year-over-year. And contract values remained down across the industry as well. This tells the story of a construction industry still feeling its way out of several years of pandemic pains, supply chain tests, and ongoing skilled labor and efficiency challenges.

Download the Q1 2022 Construction Metrics Index at bit.ly/3c9hubP.

The U.S. Department of Transportation (DOT) announced that the application process now is open for communities of all sizes to apply for $1 billion in fiscal year 2022 funding to help them ensure safe streets and roads for all and address the national roadway safety crisis. The Bipartisan Infrastructure Law’s new Safe Streets and Roads for All (SS4A) discretionary grant program provides dedicated funding to support regional, local and Tribal plans, projects and strategies that will prevent roadway deaths and serious injuries.

The Safe Streets for All Notice of Funding Opportunity can be found at www.transportation.gov/SS4A. Applications are due on or before Sept. 15, 2022.

In June 2022, the ACEC Research Institute released its “Q2 2022 Engineering Business Sentiment” report findings. This survey of 600 engineering executives across the engineering and design industry offers a comprehensive look at current and future conditions in engineering and the larger economy through a net rating scale.

“Even though our industry is in its seventh straight quarter of growth, engineering firm leaders are tempering their optimism due to the news coming from the financial sector,” said John Carrato, chair of the ACEC Research Institute.

The Institute’s Q1 survey found extreme optimism among engineering firm leaders both for their own financial picture (+88) and the industry (+82). Fast forward and that optimism remains largely intact at +84 and +80, respectively.

Current sentiment remains very optimistic within all market sectors, although nearly half have had some decline in the past quarter. Sentiment is strongest in the water/wastewater (net rating +77), and roads and bridges (+76) sectors; and weakest in residential real estate (+68) and telecommunications (+64) with both showing a drop of -4 and -5 points. Looking to the future, the largest change is in real estate with future sentiment for residential land development falling to -11 points and commercial real estate to -12.

Download a copy of the report at bit.ly/3yDb3p8.

NOAA Announces $3 Billion Funding to Address Climate Crisis, Strengthen Coastal Infrastructure

In June 2022, U.S. Commerce Secretary Gina M. Raimondo announced funding opportunities from NOAA’s $2.96 billion in Bipartisan Infrastructure Law funds to address the climate crisis and strengthen coastal resilience and infrastructure. During the next five years, NOAA’s targeted investments in the areas of habitat restoration, coastal resilience, and climate data and services will advance ongoing federal efforts toward building climate resilience.

NOAA will select high-impact projects that will incentivize investments in communities, states and regions that can drive additional funding to complementary projects. Funded projects will support three major initiatives:

• Climate Ready Coasts will help coastal communities build the future they want to see, investing in natural infrastructure projects that build coastal resilience, create jobs, store carbon, remove marine debris and restore habitat. ($1.467 billion over five years)

• Climate Data and Services will support a whole-of-government effort to address the climate crisis by getting critical information and tools in the hands of decision makers, particularly to address floods, wildfire, drought and ocean health. ($904 million over five years)

• Fisheries and Protected Resources will advance efforts to restore important fisheries habitat and promote community economic development. ($592 million over five years)

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