Many infrastructure projects have been halted or delayed over the last two years due to pandemic-led supply disruptions and labor shortages. However, conditions have been gradually stabilizing, with the resumption of both maintenance and new-construction activities. While the labor shortage and supply crunch might continue for some time, rising investments should help the industry grow.
The Biden administration’s infrastructure bill is expected to help the industry flourish. According to Research and Markets, the construction industry in the United States is expected to grow at a 5% CAGR during 2022 - 2026. Also, the global infrastructure as a service industry is expected to grow at a 23.2% CAGR through 2027.
