PropTech Market

Market Overview: 

The global proptech market size reached US$ 26.92 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 63.72 Billion by 2028, exhibiting a growth rate (CAGR) of 15.50% during 2023-2028. The rising urbanization, the expanding digitalization of real estate processes, and the increasing integration of innovative technologies, such AI, IoT, and cloud, represent some of the key factors driving the market.

PropTech, or Property Technology, encompasses various technological solutions and platforms to enhance efficiency and transform the operations of the real estate industry, including buying, selling, managing, and functioning. It leverages advanced technologies, such as artificial intelligence (AI), big data analytics, blockchain, the Internet of Things (IoT), virtual and augmented reality (V/AR), and cloud computing that streamlines various processes and enhances overall productivity. Proptech solutions provide users with comprehensive and up-to-date information about available properties, enabling them to search, compare, and select properties online. These platforms streamline the property search process, saving time and effort for buyers, sellers, and real estate agents. In addition to this, proptech simplifies and automates tasks related to property maintenance, rent collection, lease management, and tenant communication.

PropTech Market Trends:

The growing adoption of digital technologies across the real estate sector to streamline processes, enhance efficiency, and improve customer experience represents the prime factor driving the market growth. Besides this, the expanding development of smart cities and sustainable buildings has fueled the demand for proptech solutions to enable energy management, IoT integration, and sustainable practices in the built environment. Moreover, an increasing number of property owners and managers are adopting the platform to automate operations, reduce costs, and optimize workflows, which is creating a favorable outlook for the market. Concurrent with this, extensive emphasis on improving tenant management, communication, and engagement by providing convenient services, personalized interactions, and smart amenities is acting as a significant growth-inducing factor. In addition to this, ongoing technological advancements, such as the integration of AI, cloud computing, big data analytics, machine learning (ML), blockchain, and IoT, are contributing to the market growth. Furthermore, the growing adoption of V/AR technologies to provide immersive property visualization and marketing experiences are strengthening the market growth. Other factors, such as rapid urbanization, the growing demand for office space and commercial real estate, and the escalating concerns about privacy and security breaches, are presenting remunerative growth opportunities for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global proptech market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on solution, deployment mode, property type, and end use.

Solution Insights:

• Software
• Services
   

The report has provided a detailed breakup and analysis of the proptech market based on the solution. This includes software and services. According to the report, software represented the largest segment.

Deployment Mode Insights:

• Cloud-based
• On premises
   

A detailed breakup and analysis of the proptech market based on the deployment mode has also been provided in the report. This includes cloud-based and on premises. According to the report, on-premises accounted for the largest market share.

Property Type Insights:

• Residential
• Commercial
   

The report has provided a detailed breakup and analysis of the proptech market based on the property type. This includes residential and commercial. According to the report, residential represented the largest segment.

End Use Insights:

• Housing Associations
• Property Managers/ Agents
• Property Investors
• Others
   

A detailed breakup and analysis of the proptech market based on the end use have also been provided in the report. This includes housing associations, property managers/ agents, property investors, and others. According to the report, housing associations accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others); Latin America (Brazil, Mexico, and Others); and the Middle East and Africa.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global proptech market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Ascendix Tech, Guesty Inc., ManageCasa Inc., PropertyGuru Pte Ltd, PropTech Group (MRI Software), Vergesense Inc, Yanolja Co. Ltd, Zumper Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

PropTech Market Report Scope:

Key Questions Answered in This Report:

• How has the global proptech market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global proptech market?
• What is the impact of each driver, restraint, and opportunity on the global proptech market?
• What are the key regional markets?
• Which countries represent the most attractive proptech market?
• What is the breakup of the market based on the solution?
• Which is the most attractive solution in the proptech market?
• What is the breakup of the market based on the deployment mode?
• Which is the most attractive deployment mode in the proptech market?
• What is the breakup of the market based on the property type?
• Which is the most attractive property type in the proptech market?
• What is the breakup of the market based on the end use?
• Which is the most attractive end use in the proptech market?
• What is the competitive structure of the global proptech market?
• Who are the key players/companies in the global proptech market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the proptech market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global proptech market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the proptech industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.