Technology has been changing at a rapid pace and providing impetus to the growth of every industry including the real estate market. The combination of technology along with property is helping real estate and construction companies grow. The proptech market is being driven by several factors. As Real estate is definitely among fastest growing sectors courtesy of the constantly growing population across the globe. While technology provides impetus to the growth of property market, it helps them tackle several issues and sort many processes. Right from advertisements, maintenance and security, the proptech market is catering to majority of issues faced by real estate market.
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The global adversity named COVID-19 pandemic dented the growth of the proptech market. The lockdown curbs imposed to curtail the spread of SARS COV-2 caused a meltdown in the global economy. Several real estate projects were halted in wake of many factors like lack of finances, logistics services and labour.
The growth of the proptech market is being driven by surging demand for technology solutions among real estate investors. Also, the growth seen by cloud technology also provides impetus to this market’s growth. It is promoting faster deployment along with maintenance of solutions.
Meanwhile, the proptech market faces hindrance from rise in concerns in regards with cost of proptech products along with data privacy. Though it is likely to tackle such restraining factors. Despite few restraining factors, the growth of latest technologies like artificial intelligence (AI), audio reality (AR) and video reality (VR) is forecasted to bring great days for the proptech market. Technology ensures hassle free sale, timely maintenance along with extremely tight security. This helps real estate and construction companies execute their projects.
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Global PropTech Market Report Findings:
- Courtesy of recurring nature of revenue it generates, the services segment is forecasted to witness growth at the fastest rate.
- Small and medium enterprises of the organization segment of the proptech market will generate huge revenue at the fastest rate over the period of forecast.
- Residential property type will be hottest selling segment in coming few years.
- The region of Asia Pacific is forecasted to witness growth at the fastest rate for the proptech market. Highly populated countries like India and China are seeing a rise in numerous residential and commercial projects, which aids in the growth of this market in the region.
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Few of the major players operating in the global proptech market are listed below:
- 3DUniversum
- Ascendix Technologies
- Brickblock Group B.V.
- Coadjute
- Equiem Services
- HomeViews
- Houzen
- InspectRealEstate
- Kerfuffle
- Locale
- Qualis Flow
- Reonomy
- Rexlabs
- Roofstock Inc.
- SPACEWELL INTERNATIONAL
- Tower360 GmbH
- Vreasy
- Yourkeys Technology Ltd
- Zumper Inc.
- Other Market Participants
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Global PropTech Market:
By Offering
- Solutions
- Cloud
- On Premise
- Services
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
By Property Type
- Residential
- Commercial
By End User
- Real Estate Agents
- Property Owners/ Investors
- Construction Companies
- Others
By Application
- Security and Surveillance
- Property Management
- Marketing Management
- Investing/ Portfolio Management
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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