3 Telecommunications picked for strong future growth
The Australian telecommunications sector has seen ongoing steady growth, with this likely to continue well into 2015. That’s the finding from analysis by Australian Industry Group (AI Group), which released it’s future predictions for the engineering sector in late 2014.
The Construction Outlook report laid out the expected growth in a variety of engineering sectors across coming months, with telecommunications emerging as the second-largest growth area.
In the predictions for future growth over 2014-2015, telecommunications infrastructure is slightly behind multi-unit residential construction. Both of these sectors are expected to see strong growth, with telecommunications projects expanding by roughly 8 per cent over this time.
The same trends are also likely to develop further in coming months, with growth expected to reach 5.5 per cent over 2015-2016. In the past, this sector has also recorded a strong expansion, with a 6 per cent increase recorded over the 2013-2014 financial year.
What’s more impressive is that the overall market for engineering projects is actually decreasing. In fact, construction work is expected to contract in the next year by 3.4 per cent, despite the strength of telecommunications work.
Part of the reason for the ongoing strength of telecommunications construction is the demand for services created by the National Broadband Network (NBN). This major construction project is still moving ahead across Australia, and is continuing to create demand for construction capabilities.
For contractors working on major telecommunications infrastructure projects it is important to have the right internal processes and contingent workforce management systems in place. With the AI Group research finding the number of sub-contractors on site will increase 1.9% over 2014-2015, the need for these processes is constantly growing.
One useful solution for this is to use Consol from Yarris. This powerful software makes it easy for companies to manage a large infrastructure project with multiple different inputs. For a company involved in these projects, having access to this online portal can ensure the construction process runs smoothly.