Need for digital transformation in construction industry | Ashish Aggarwal, SpaceMantra

Ashish Aggarwal, the Director of SpaceMantra, discusses the current state of the real estate industry in India. He notes that the construction industry is expected to grow at a 6.2% annual rate, driven by increasing demand for housing and construction materials. However, rising material costs, supply chain disruptions, and inflation are leading to higher construction prices. Despite this, consumers are unwilling to compromise on the quality of materials used. To address these challenges, the industry is increasingly embracing digital technologies such as virtual design, VR home tours, cloud-based software, and big data algorithms to make the real estate process more efficient.