Proptech (property technology) is the use of information technology (IT) to help individuals and companies research, buy, sell, and manage real estate. Proptech is designed to streamline and connect processes for participants in all stages of the real estate industry, including buyers, sellers, brokers, lenders, and landlords. Popular proptech solutions include virtual reality software that allows website visitors to virtually walk through properties, software for reporting repairs, splitting rent payments, and crowdfunding new real estate projects. Furthermore, increasing digitalization in businesses and adoption of advanced technology such as AI, data analytics, and cloud-based solutions are expected to provide lucrative opportunities for market growth during the forecast period.
Additionally, proptech solutions streamline a number of formerly labor-intensive and manual activities, including property administration, leasing, and maintenance. This improves operational effectiveness, lessens the administrative stress, and enables handling of larger portfolios with less resources. In addition, large volumes of data are collected and analyzed by proptech solutions, which offer insightful information to real estate experts.
In addition, with increasing urbanization and digitization in every sphere of life and industry, today technology is the central driving force in improving overall well-being and driving key economic metrics across the globally. This rapid adoption of technology has also created lucrative vistas opportunities with promising potential for disrupting traditional industries such as the real estate sector that is primed for technological disruptions and digital transformations. Moreover, as technology continues to advance, the proptech industry is likely to expand further, providing new and exciting possibilities for both real estate businesses and consumers alike. Moreover, proptech platforms frequently provide more effective user experiences to both renters and property owners. Online rental applications, virtual property tours, and digital lease agreements simplify and improve the convenience of the leasing process for every participant. Additionally, the growing trend of digital marketing and online advertising and marketing strategies are major factors driving the market growth. Meanwhile, numerous public and private enterprises are adopting several strategies such as collaboration, partnership, and product launch to expand their product portfolio in proptech solutions, which is anticipated to accelerate the market demand and hence, drive global market growth.
Also, the proptech market is witnessing significant growth, owing to several key factors including the expansion of online platforms. Moreover, the proptech solutions can include blockchain technology to offer safe and transparent real estate transactions. Such factors further help organizations to enhance the customer experience, hence, are anticipated to drive global market growth.
Furthermore, increase in adoption of IoT devices and rise in demand for automation and efficiency positively impact the growth of the market. In addition, growing investment in industry 4.0 technologies is expected to propel the global market growth. However, lack of skilled professionals in AI infrastructure and data privacy & security concerns are expected to hamper the market growth. Furthermore, rise in advancements in AI technologies creates numerous opportunities for proptech solutions to optimize resource management, reduce energy consumption, and improve quality of life. Moreover, reduction in the cost of connected devices is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The proptech market is segmented into component, deployment mode, type, end user, and region. By component, it is bifurcated into solution and service. Based onBy deployment mode, it is divided into on-premise and cloud learning. By type, it is categorized into residential and commercial. Oon the basis of end user, the market is classified into housing associations, property managers/ agents, property investors, and others. Region- wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the proptech market are proptech market are Altus Group, Ascendix Technologies, Coadjute Limited, Guesty Inc., HoloBuilder, Inc., ManageCasa, Inc., Opendoor technologies, Inc., Qualia, Zillow, Inc. and Zumper Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the proptech market globally.
Additionally, proptech solutions streamline a number of formerly labor-intensive and manual activities, including property administration, leasing, and maintenance. This improves operational effectiveness, lessens the administrative stress, and enables handling of larger portfolios with less resources. In addition, large volumes of data are collected and analyzed by proptech solutions, which offer insightful information to real estate experts.
In addition, with increasing urbanization and digitization in every sphere of life and industry, today technology is the central driving force in improving overall well-being and driving key economic metrics across the globally. This rapid adoption of technology has also created lucrative vistas opportunities with promising potential for disrupting traditional industries such as the real estate sector that is primed for technological disruptions and digital transformations. Moreover, as technology continues to advance, the proptech industry is likely to expand further, providing new and exciting possibilities for both real estate businesses and consumers alike. Moreover, proptech platforms frequently provide more effective user experiences to both renters and property owners. Online rental applications, virtual property tours, and digital lease agreements simplify and improve the convenience of the leasing process for every participant. Additionally, the growing trend of digital marketing and online advertising and marketing strategies are major factors driving the market growth. Meanwhile, numerous public and private enterprises are adopting several strategies such as collaboration, partnership, and product launch to expand their product portfolio in proptech solutions, which is anticipated to accelerate the market demand and hence, drive global market growth.
Also, the proptech market is witnessing significant growth, owing to several key factors including the expansion of online platforms. Moreover, the proptech solutions can include blockchain technology to offer safe and transparent real estate transactions. Such factors further help organizations to enhance the customer experience, hence, are anticipated to drive global market growth.
Furthermore, increase in adoption of IoT devices and rise in demand for automation and efficiency positively impact the growth of the market. In addition, growing investment in industry 4.0 technologies is expected to propel the global market growth. However, lack of skilled professionals in AI infrastructure and data privacy & security concerns are expected to hamper the market growth. Furthermore, rise in advancements in AI technologies creates numerous opportunities for proptech solutions to optimize resource management, reduce energy consumption, and improve quality of life. Moreover, reduction in the cost of connected devices is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The proptech market is segmented into component, deployment mode, type, end user, and region. By component, it is bifurcated into solution and service. Based onBy deployment mode, it is divided into on-premise and cloud learning. By type, it is categorized into residential and commercial. Oon the basis of end user, the market is classified into housing associations, property managers/ agents, property investors, and others. Region- wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the proptech market are proptech market are Altus Group, Ascendix Technologies, Coadjute Limited, Guesty Inc., HoloBuilder, Inc., ManageCasa, Inc., Opendoor technologies, Inc., Qualia, Zillow, Inc. and Zumper Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the proptech market globally.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the proptech market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on proptech market trends is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the proptech market from 2022 to 2032 is provided to determine the market potential.
Additional benefits you will get with this purchase are:
- Quarterly update (only available with the purchase of an enterprise license)
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- Free data pack (Excel version) with the purchase of a 1-5 or enterprise user license.
- Free report update, if the report is 6-12 months old or older.
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Key Market Segments
By Component
- Solution
- Service
By Deployment Mode
- On-premise
- Cloud
By Type
- Residential
- Commercial
By End-User
- Housing Associations
- Property Managers/ Agents
- Property Investors
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Zumper Inc.
- ManageCasa, Inc.
- Qualia
- Guesty Inc.
- Ascendix Technologies
- HoloBuilder, Inc.
- Zillow, Inc.
- Coadjute Limited
- Opendoor Technologies, Inc.
- Altus Group
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PROPTECH MARKET, BY COMPONENT
CHAPTER 5: PROPTECH MARKET, BY DEPLOYMENT MODE
CHAPTER 6: PROPTECH MARKET, BY TYPE
CHAPTER 7: PROPTECH MARKET, BY END-USER
CHAPTER 8: PROPTECH MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the proptech market was valued at $26.8 billion in 2022, and is estimated to reach $119.9 billion by 2032, growing at a CAGR of 16.5% from 2023 to 2032.The PropTech Market is likely to experience a significant growth rate of 16.5% from 2023-2032, owing to the rise in market demand for proptech solutions in businesses
Proptech offers numerous benefits that are transforming the real estate landscape. It enhances convenience and efficiency for buyers and sellers by providing online property listings and marketplaces, making it easier to search for and showcase properties. In addition, property technology streamlines property management with advanced software solutions that automate tasks and enhance communication with tenants, help to save time and money, and reduce paperwork.
Furthermore, with increasing urbanization and digitization in every sphere of life and industry, today technology is the central driving force in improving overall well-being and driving key economic metrics globally. Rapid adoption of technology has also created lucrative opportunities for disrupting traditional industries such as real estate sector that is primed for technological disruptions and digital transformations. Moreover, as technology continues to advance, the proptech market is expected to enhance further, providing new and exciting possibilities for both real estate enterprises and consumers alike. Moreover, proptech platforms frequently provide more effective user experiences to both renters and property owners. Online rental applications, virtual property tours, and digital lease agreements simplify and improve the convenience of the leasing process for every participant. Additionally, the growing trend of digital marketing and online advertising and marketing strategies are major factors driving the market growth. Meanwhile, numerous public and private enterprises are adopting several strategies such as collaboration, partnership, and product launch to expand their product portfolio in proptech solutions, which is anticipated to accelerate the market demand and hence, drive global market growth.
Furthermore, increase in adoption of IoT devices and rise in demand for automation and efficiency positively impact the growth of the market. In addition, growing investment in industry 4.0 technologies is expected to propel the global market growth. However, lack of skilled professionals in AI infrastructure and data privacy & security concerns are expected to hamper the market growth. Furthermore, rise in advancements in AI technologies creates numerous opportunities for proptech solutions to optimize resource management, reduce energy consumption, and improve quality of life. Moreover, reduction in the cost of connected devices is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The proptech market is segmented into component, deployment mode, type, end user, and region. By component, it is bifurcated into solution and service. Based onBy deployment mode, it is divided into on-premise and cloud learning. By type, it is categorized into residential and commercial. Oon the basis of end user, the market is classified into housing associations, property managers/ agents, property investors, and others. Region- wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the proptech market are Altus Group, Ascendix Technologies, Coadjute Limited, Guesty Inc., HoloBuilder, Inc., ManageCasa, Inc., Opendoor technologies, Inc., Qualia, Zillow, Inc. and Zumper Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the proptech market globally. For instance, in July 2023, Coadjute launched Digital Property Data Packs in bid to streamline transactions. The solution enables sellers to complete the form and share the data electronically with other parties involved in the transaction. In addition, in August 2022, Guesty raised $170 million to power the next generation of the hospitality and property management industry. It supports continued expansion into new verticals, and enhance its industry-leading property management technology and platform to meet the evolving needs of every type of hospitality operator.
Key Market Insights
By component, the solution segment was the highest revenue contributor to the market in 2022, and is estimated to reach $67.64 billion by 2032, with a CAGR of 14.7%. However, the service segment is estimated to be the fastest-growing segment with a CAGR of 19.4% during the forecast period.By deployment mode, the on-premise segment dominated the global market share in 2022, and is estimated to reach $56.18 billion by 2032, with a CAGR of 13.0%, However, the cloud segment is expected to be the fastest growing segment with a CAGR of 20.8% during the forecast period.
By type, the residential segment was the highest revenue contributor to the market in 2022, and is estimated to reach $60.32 billion by 2032, with a CAGR of 14.4%. However, the commercial segment is estimated to be the fastest-growing segment with a CAGR of 19.1% during the forecast period.
By end user, the housing association segment was the highest revenue contributor to the market in 2022, and is estimated to reach $42.14 billion by 2032, with a CAGR of 13.8%. However, the property managers/agents segment are estimated to be the fastest-growing segment with a CAGR of 19.7% during the forecast period.
Region wise, North America was the highest revenue contributor, accounting for $10.02 billion in 2022 and is estimated to reach $35.41 billion by 2032, with a CAGR of 13.8%.
Companies Mentioned
- Zumper Inc.
- ManageCasa, Inc.
- Qualia
- Guesty Inc.
- Ascendix Technologies
- HoloBuilder, Inc.
- Zillow, Inc.
- Coadjute Limited
- Opendoor Technologies, Inc.
- Altus Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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