About PropTech
PropTech also known as property technology or real estate technology means the use of cutting-edge technologies in the real estate market. In today’s time, increasing digitalization across the globe has opened a new door for real estate technologies as more and more people are demanding VR tours and online real estate transaction services. Most real estate companies are investing more in construction and property management solutions for real-time tracking of property and eliminating human errors. The high Growth of PropTech companies in the US will create significant opportunities for property technologies as real estate organizations are planning to use new digital technologies in traditional business processes.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global PropTech market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
VTS (United States), Reonomy (United States), Ascendix Technologies (United States), Zumper Inc. (United States), OpenDoor (United States), JLL (United States), Guesty (Israel), HoloBuilder Inc. (United States), Zillow (United States), Entrata, Inc. (United States), Qualia (United States), Buildium (United States), AppFolio, Inc. (United States) and Yardi Systems, Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global PropTech market by , Application (Online Marketing & Virtual Tour, Underwriting Process, Online Leasing, Construction Progress Management and Property Management) and Region.
On the basis of geography, the market of PropTech has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment, the sub-segment i.e. Web-based will boost the PropTech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Brokers will boost the PropTech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing Model, the sub-segment i.e. Basic will boost the PropTech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Trend of AI-Powered Underwriting Software to Automate Commercial Real Estate Underwriting Process
Market Growth Drivers:
Rising Adoption of Digital Transformation Strategies Across the Real Estate Companies to Survive and Stay Competitive and Increasing Demand for Virtual Tour Before Visiting Actual Property by the Customers
Challenges:
Bad Quality Images of Properties and Over-Reliance on Technology Can Lead Big Problems
Restraints:
High Cost Associated with Software Upgradation and Lack of Impersonal Communication May Hamper Market Growth
Opportunities:
High Growth of Online Leasing Due to Penetration of Smartphones and Increasing Number of Working Population Worldwide
Market Leaders and their expansionary development strategies
In October 2021, VTS a leading property technology solution provider announced the acquisition of Lane. Lane provides a workplace experience platform that is widely used by landlords. The acquisition will bring new tenant engagement capabilities to VTS and strengthen VTS’s market position in tenant experience solutions.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, PropTech Providers, Venture Capitalists and Private Equity Firms, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.