Septembre 2026
Deloitte (7 pages).

Physical and digital infrastructure are no longer separate domains. Transportation networks depend on communications networks. Digital and data infrastructure depends on power systems and supply chains. Water utilities rely on sensors and operational technologies. As these systems become more interconnected, artificial intelligence is increasingly coordinating how they are planned, operated, and maintained.
Infrastructure has evolved into an interconnected operating system; so the institutions responsible for it should evolve too. Infrastructure leaders are being asked to look beyond building more assets, toward financing, delivering, operating, and protecting these increasingly interconnected systems.
Deloitte’s 2026 Future of Infrastructure Survey sheds light on this shift. Infrastructure leaders surveyed across various regions expect increased investment across a wide range of infrastructure asset classes over the next three years. However, the defining challenge is no longer simply deciding what to build. According to respondents, governments also need to determine how infrastructure priorities can be financed, delivered, operated, and secured to account for the growing interdependencies across sectors and jurisdictions. Moreover, the survey also highlights the scale of this ambition, as well as the distance between it and the current delivery capacity.
While infrastructure systems are becoming more integrated, many of the institutions responsible for planning, financing, regulating, and delivering them remain organized around individual assets and sectors. Today’s infrastructure challenges increasingly stem not only from engineering but also from the organization’s ability to manage complexity across connected systems.

Septembre 2026
World Meteorological Organization (118 pages).

Rivers across the globe in 2025 had one of the driest years in more than three decades. The WMO State of Global Water Resources Report shows a continuation of the long-term decline in Earth’s freshwater storage and in glacier retreat.
The water cycle has also become more erratic and unpredictable, swinging between too little or too much. The past seven years have seen the fewest rivers with “normal” flows since 1991.
Asia and Africa together accounted for at least half of all recorded water-related extreme events and more than 80% of reported associated deaths over the past five years, it says.
The report provides a comprehensive, science-based assessment of the entire water cycle loop, including river discharge, groundwater, evapotranspiration, land water storage, and snow and ice, as well as high-impact events.

Septembre 2026
Banque Mondiale (52 pages).

Global housing demand is rising rapidly, yet the combined pressures of future population growth, climate-driven hazard intensification, and constrained fiscal capacity have not been assessed together for their impact on housing at a global scale. Housing is one of the largest components of household wealth and national capital stock. This study provides the first global, country-level picture of future housing construction demand and its associated costs and identifies where the needs for resilient construction are most urgent.
The lack of high-resolution, globally consistent geospatial and demographic data has limited previous analyses. This study integrates Shared Socioeconomic Pathways-based population projections to 2100 with dynamic household size modeling, cohort survival analysis, and multi-hazard exposure mapping to estimate future housing construction demand and its associated costs under business-as-usual and resilient construction pathways. Global housing stock is projected to nearly double by 2100, reaching 4.1 billion to 4.5 billion units. Resilient construction pathways are found to carry lower long-term costs than business-as-usual in most regions, although not in high-growth, high-hazard regions such as South Asia and Sub-Saharan Africa. Construction demand in most regions is projected to transition from growth-driven to replacement-driven by mid-century, suggesting that the decisions made today about how and where it is built will shape countries’ exposure to natural hazards and their fiscal obligations for decades to come. The study further identifies 46 countries facing a triple burden: high future housing demand, severe natural hazard exposure, and limited fiscal capacity to finance resilient construction.
The nature of this burden varies systematically by region, with Pacific Island countries facing acute fiscal constraints, Sub-Saharan Africa facing unprecedented volumetric demand, and South and Southeast Asian countries facing the highest hazard exposure. These findings provide a quantitative basis for prioritizing resilient housing investment, nationally and through international support, differentiated across regions and individual countries.

Septembre 2026
Deloitte (11 pages).

As AI spreads across cloud, edge, applications, and devices, organizations shouldconsider a common framework for coordinating how it acts.

Septembre 2026
Deloitte (26 pages).

The top 100 global construction companies, based on total sales, generated revenues of approximately US$1.972 trillion in 2025, a slight decrease of 0.4% from the prior year, with China based companies continuing to account for the largest share of global construction activity.
Total sales in the United States decreased slightly by 0.9%, reflecting softer conditions in the residential construction market. Revenue growth across European markets, however, remained solid, with aggregate sales increasing by approximately 9.0%.
Internationalization continued to grow in 2025, with almost one quarter of the top 30’s total sales coming from abroad, compared with 21.3% in 2024. European groups lead the internationalization ranking, generating 67% of their aggregate revenues outside of their home country.

Août 2026
Atradius (10 pages).

After increasing 1.4% last year we expect global construction output to grow by the same amount in 2026, one percentage point lower than our forecast early this year. Our lowered forecast is due to a more sluggish sector performance in both China and the US, weighing on the global construction outlook. Growth in advanced economies is predicted to increase by 0.8%, while building activity in emerging markets will rise by 2.8%.
The domestic nature of the construction market and relatively regionalised supply chains mean that construction has been more insulated from US tariffs and global trade uncertainty than other industries. However, the conflict in the Gulf and blockage of the Strait of Hormuz has caused energy prices to surge, putting upward pressure on inflation. This has knocked business confidence and is impacting business investment in major construction projects.
Global residential construction output growth is expected to slow down to 0.8% this year. This is because the interest rates in many economies remain elevated and household purchasing power is suffering from the higher energy prices. All this weighs on housing demand. In 2027 a 3.0% rebound is expected, mainly driven by higher activity in Europe and North America. Housing shortages in many developed countries will need to be addressed.

Août 2026
Allianz (34 pages).

As AI adoption shifts from training frontier models to deploying millions of AI-powered applications and autonomous agents, annual data center investment is projected to rise from around US$500bn in 2024 to more than $1trn as early as 2027. The investment opportunity extends well beyond data centers to electricity generation, grid infrastructure, cooling, networking and semiconductors.
Governments are becoming a major structural driver of AI infrastructure investment. Concerns over technological sovereignty, national security and geopolitical competition have prompted many countries to launch national AI strategies, sovereign compute programs, semiconductor initiatives and direct public investment into domestic computing capacity. Because these investments are driven by strategic priorities rather than purely financial returns, they tend to be relatively price-insensitive, reinforcing the long-term outlook for the sector.
The next wave of investment is increasingly global. The US and China are expected to account for around 62% of new global capacity additions through 2030, underscoring their continued central role in the data center build-out and ensuring their combined share of global capacity is expected to remain broadly stable at around 63%. In Europe, Germany, the UK and Ireland are expected to remain major markets, but faster expansion is likely in Spain, Finland and Denmark, where power availability and permitting conditions are often more
favorable. Across Asia Pacific, excluding China, installed capacity is projected to increase from around 9GW today to more than 28GW by 2030. Malaysia stands out, with capacity expected to grow more than tenfold, positioning it alongside India and Japan as one of the region’s fastestgrowing AI infrastructure markets

Juillet 2026
Deloitte (7 pages).

By 2032, the technology stack will likely look far different from the one many organizations are modernizing today. AI agents could be managing workloads across cloud, edge, and on-premises environments. Interfaces could become more intent-driven. Trust, identity, orchestration, and resilience might be needed not just in applications and infrastructure but also across increasingly autonomous systems.
For C-suite leaders, the challenge is not predicting one future with precision but making infrastructure decisions today that maximize flexibility for several plausible futures while managing existing constraints.
To explore these possible futures, Deloitte conducted interviews with more than 30 technology leaders tobetter understand their perspectives on architecture and stack decisions, security and trust innovations,and potential future states for tech infrastructure. We combined those insights with data from Deloitte’s published research and an analysis of market signals. Many leaders envisioned a 2032 landscape withambient experiences, multi-environment architectures, continuous identity verification, and adaptive systems, all while contending with constraints including limited computing resources, concentrated chip production, energy challenges, rising costs, network issues, technical debt, and skill gaps.

Juillet 2026
Forvis Mazars (24 pages).

En 2025, les grands groupes européens du BTP, de l’énergie, de l’immobilier et des concessions continuent d’afficher une croissance solide malgré un contexte économique incertain. Les carnets de commandes progressent globalement (+7 %), mais les performances deviennent plus hétérogènes d’un acteur à l’autre.
Après plusieurs années d’amélioration, la rentabilité marque un ralentissement, principalement en raison de la baisse des marges dans les activités de concessions (hausse des coûts d’exploitation et facteurs externes), partiellement compensée par les bonnes performances du pôle Énergie & Services.
Les entreprises poursuivent leur transformation digitale pour améliorer la productivité, sécuriser l’exécution des projets et soutenir leur rentabilité future, tout en renforçant leur sélection des projets et leur gestion des risques.
La structure des activités évolue peu : le BTP reste le cœur du secteur (55 % de l’activité), mais sa croissance est freinée par la crise de l’immobilier (-12 %). L’Énergie & Services poursuit sa forte progression (29 % de l’activité, +7 % de croissance), malgré des cycles de décision plus longs et un environnement réglementaire plus complexe.
Les groupes français se distinguent particulièrement dans l’énergie, où ils représentent 77 % du chiffre d’affaires du panel étudié.
Enfin, l’internationalisation se renforce : 65 % du chiffre d’affaires est désormais réalisé hors des marchés domestiques, constituant à la fois un levier majeur de croissance et un facteur d’exposition accru aux risques externes.

Juillet 2026
ECLAC, United Nations Economic Commission for Latin America and the Caribbean (109 pages).

The Water Security Financing Framework for Latin America and the Caribbean responds to one of the region’s most urgent challenges: closing the gaps that still exist in water access and sustainability in a context of climate change, rapid urbanization and limited financial resources. Despite progress in access to water and basic sanitation, the region faces structural shortcomings that jeopardize the universalization of the human right to safe drinking water and sanitation, sustainability, equity and resilience. This framework emphasizes that the problem lies not only in the shortage of financial resources, but in the limited institutional capacity to convert needs into well-structured and bankable projects.
To address that, this document introduces the Water Security Financing Framework (WSFF): an adaptable methodology based on principles of new institutional economics and systemic thinking aligned with the British “five case model” (strategic, economic, commercial, financial and management) for justifying and prioritizing public investments. The Water Security Financing Framework offers a step-by-step process that enables governments, operators, the private sector and civil society to jointly construct robust investment cases, design effective contractual arrangements and strengthen governance, funding and financing arrangements. It thus seeks to close two critical gaps: between political decision-makers and technical experts, and between investment needs and existing financial mechanisms.
The document is structured as follows: after an introductory chapter that provides the context and rationale for consolidating this financing framework for water security, chapter I analyses the region’s challenges and implementation gaps in achieving water security. Chapter II presents an analysis of transformations in the global and regional financial architecture. Chapter III examines emerging financing mechanisms: green and blue bonds, blended finance, carbon and water credits, and philanthropic capital. Chapter IV examines in depth the strategies used to channel climate funds at the local level, with examples from South Africa and the Indian city of Surat. Chapter V describes the Water Security Financing Framework
in detail, with example cases from the region. Finally, chapter VI concludes with recommendations for policy reforms, institutional strengthening and investment priorities.

Juillet 2026
OCDE (150 pages).

Water-related investments are central to economic development. They strengthen water security and support other sectors such as agriculture, industry, energy, health and education. Yet, across OECD and non-OECD countries alike, the long-term viability of many water-related investments remains a concern.
Discussions on financing for water often focus on the scale of capital required to close investment gaps. However, the effectiveness and durability of investments depend not only on the volume of resources mobilised, but also on the quality, structure and purpose of the financing deployed. This highlights the importance of financing models that can support long-term, impactful investment outcomes.
This report examines funding and financing approaches that can improve the long-term viability of water-related investments and mobilise capital at scale. Focusing on bond finance, public–private partnerships, results-based finance and Islamic finance instruments, the report aims to help policymakers, financial institutions and investors understand how financing structures, risk allocation mechanisms and incentive frameworks influence investment outcomes over time. It also explores how underutilised pools of capital, particularly those linked to growing demand for impact-driven assets, can be mobilised more effectively.

Juillet 2026
Arcadis (40 pages).

The latest edition of the Arcadis International Construction Costs report finds subdued inflation in most global construction markets.
European and North American cities remain the most expensive places to build, but the rate of cost escalation has slowed in many markets.