News article is by Danielle Dy Buncio, Founder & CEO, Viatechnik, Building Design & Construction
The construction industry is facing colliding forces that render our current trajectory wasteful, inefficient, and unsustainable. These include a widespread skilled labor shortage and industry productivity rates that continually fail to improve. This is the burning platform that this relatively undisrupted $8+ trillion global industry rests upon. Multiple things need to change, but there are clearly obvious wins to go after.
Enter prefabrication and modular construction. Predicted to grow at 6.50% CAGR between 2015 and 2020, experts project that prefabrication and modular construction will total USD $209 billion by the end of the decade.