GoCement Takes Disruptive Steps to Streamline Construction Business
Exclusive interview with GoCement Founder & CEO Djonny Suwanto, pioneer of construction tech business in Indonesia
According to research Global Data, the market size of the construction business in Indonesia has reached $234,6 billion or the equivalent of IDR 3,591 trillion in 2021. It is projected that this sector will find average annual growth rate (AAGR) of more than 4% in the upcoming 2023-2026 period. This growth is directly correlated with a number of economic metrics, including the national GDP which in 2022 has managed to grow 5,31%.
In addition, investment in the construction business has also increased. In 2018 the value reached $72 billion, indicating an AAGR of 5% since 2010. BPS data also stated that in 2018 there were more than 131 thousand companies of various scales (small-medium-large) working on this business in Indonesia. So there is no doubt that this is indeed an industry that has great value and opportunity.
However, this industry is still faced with a number of inefficiencies that impact productivity in this sector. Among the existing issues, supply chain which is less than optimal is one of the fundamental issues that has more urgency to be resolved. Most of the existing business processes are still manual, relying on the workings of traditional companies that have been in business for decades.
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