The global construction industry experienced a 56% drop in company filings mentions of cloud in Q3 2022 compared with the previous quarter, with the highest share accounted for by Larsen & Toubro with 4% year-on-year increase, according to GlobalData’s whitepaper on Cloud in Construction – Filings Trends in Q3 2022.
Notably, cloud was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of governance and batteries, according to GlobalData.
Of the 50 leading companies in the construction industry, Larsen & Toubro had the greatest increase in references for cloud in Q3 2022, compared with the previous quarter. GlobalData identified 27 cloud -related sentences in the company's filings - 16% of all sentences - and an increase of 575% in Q3 2022 compared with Q2 2022. Digital Realty Trust’s mentions of cloud rose by 300% to 20 and Goodman Group’s by 100% to 6.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for cloud in Q3 2022 was 99.