Market Forecast (2024-2032):

The Global PropTech market size was valued at USD 35.38 billion in 2023 and is projected to grow from USD 39.59 billion in 2024 to USD 97.33 billion by 2032, exhibiting a CAGR of 11.9% during the forecast period. North America dominated the global market with a share of 38.15% in 2022.

The rising demand for PropTech owned by Large Enterprises, Small and Medium Enterprises Applications worldwide is responsible for the market's expansion. The paper offers information on the profitable prospects in the national PropTech market. The report also provides a detailed breakdown of the leading worldwide companies' costs, segments, trends, regions, and commercial development throughout the estimated period.

Information about a market within an industry or across many sectors is gathered in the PropTech Market report. The PropTech Market study covers both quantitative and qualitative data analysis, with a forecast period that spans 2024 to 2031. Many factors, including product pricing, product or service penetration at the national and regional levels, GDP of the country, market dynamics of the parent and child markets, end application industries, major players, consumer purchasing behaviour, and the political, social, and economic environments of the various countries are taken into consideration in the preparation of this report. The research is broken down into many sections to provide a thorough examination of the market from every angle.

The report's main sections—market segments, market outlook, and company profiles—are the main emphasis of the whole thing. In order to conduct more marketing activities, the segments offer information from multiple angles, including the end-use industry, product or service type, and any other pertinent segmentation based on the current state of the market. Market evolution, growth drivers, constraints, opportunities, and challenges, Porter's Five Forces Framework, macroeconomic analysis, value chain analysis, and pricing analysis—all of which have a direct impact on the market today and in the future—are all thoroughly examined in the market outlook section. Market internal elements are encompassed by drivers and restraints, while external factors influencing the market are opportunities and challenges. The trends impacting the creation of new ventures and investment opportunities are also indicated in the market outlook section.

Market Dynamics:

Market Drivers:

Rising Demand for Efficiency and Transparency in the Real Estate Sector

• The real estate industry has long faced criticism for its slowness, opacity, and dearth of clear information. For both buyers and sellers, this has resulted in inefficiencies and frustrations. For example, it frequently took sifting through multiple postings with sometimes wrong or outdated details to identify the perfect home. The negotiations may be secretive and take a long time.
• A more effective and transparent real estate experience is, nevertheless, becoming more and more in demand. This entails accurate and easily accessible property data, efficient search procedures, and transparent communication all the way through the deal. One of the main forces behind this transformation is technology. PropTech, or property technology, systems provide thorough property listings complete with virtual tours, high-resolution photographs, and comprehensive data.  In addition, they have the ability to streamline communication between buyers, sellers, and agents and automate processes like viewing scheduling. All stakeholders are better able to make informed judgements as a result of the improved transparency. In the end, a more transparent and efficient real estate industry saves time, eases irritation, and makes the market more equitable for all parties.

Growing Adoption of Emerging Technologies

• The rapid adoption of emerging technology is causing a major transformation in the real estate sector. The aim to boost user experiences, increase productivity, and open up completely new market opportunities is what is driving this movement.
• The impact on real estate transactions and searches is one important aspect. Intelligent search platforms that customise results based on user preferences and purchasing patterns are being developed using technologies like Artificial Intelligence (AI) and Big Data. Virtual reality (VR) enables travellers to experience virtual property tours from any location in the world, and augmented reality (AR) helps with design and visualisation by superimposing digital data onto real-world surroundings.
• The Internet of Things (IoT) is being integrated by smart building technologies to create intelligent and responsive buildings, going beyond the purchasing process. This makes it possible to implement features like enhanced security systems, optimised energy use, and automatic climate management. With its higher security and transparency, blockchain technology is also starting to show promise as a way to streamline property ownership records and transactions.
• There is a shift taking place in the real estate industry as a result of the increasing usage of these new technologies. PropTech businesses are always pushing the envelope and inventing new things to improve efficiency, data-drivenness, and user-centricity in the sector.

Market Trends:

Growth of the Sharing Economy

• The way individuals access and use space is being fundamentally altered by the sharing economy, which has multiple effects on the real estate market. According to this economic paradigm, people should prioritise "access over ownership," allowing others to temporarily obtain use of underutilised assets for a particular purpose while individuals utilise those assets to produce money.
• Peer-to-peer interactions in the real estate industry are made possible by PropTech platforms, which are leading this trend. Short-term rentals of full homes or spare rooms are now possible for homeowners thanks to the rise in popularity of services like VRBO and Airbnb. This gives homeowners more revenue in addition to giving travellers more options for lodging—possibly at a cheaper price than traditional motels.
• The sharing economy is not limited to holiday homes. For remote workers, startups, and freelancers, co-working facilities provide adaptable and reasonably priced office alternatives. These locations offer a business-like setting without the long-term lease commitment, complete with meeting rooms and fast internet. Co-living spaces, which serve young professionals and students looking for inexpensive housing with shared amenities and common areas, are also becoming more popular.
• For the conventional real estate sector, the sharing economy's expansion brings both benefits and disadvantages. Although it provides users with freedom and maybe reduced costs, it can also tighten rental vacancy rates in well-known neighbourhoods, which affects long-term renters' affordability. In general, the sharing economy is continuing to change how people view space use, and proptech is essential to making these new models possible in the real estate industry.

Increased Focus on Sustainability

• Historically, the real estate industry has contributed significantly to resource consumption and greenhouse gas emissions. In addition to producing a large quantity of trash, buildings account for a large share of the world's energy use. Still, the sector is changing as sustainability becomes more and more of a priority.
• Leading this change is PropTech, which provides solutions that encourage resource efficiency and eco-friendly behaviour. With the use of Building Information Modelling (BIM) software, design and construction processes may be optimised to reduce waste and guarantee effective resource utilisation.  Reducing dependency on conventional energy grids and a building's carbon footprint are two benefits of integrating smart building technologies with renewable energy sources like solar and geothermal systems. PropTech solutions also have the ability to track water and energy consumption in real-time, which facilitates improved management and the identification of areas in need of development.
• Moreover, PropTech platforms are boosting the development of healthy and sustainable living spaces. These platforms have the ability to link renters with environmentally conscious buildings that have certifications for green buildings, water-saving fixtures, and energy-efficient appliances.  Additionally, they can draw attention to homes that are close to biking or walking routes, promoting alternate modes of transportation and lowering dependency on automobiles.
• There is a growing emphasis on sustainability in real estate, which has both financial and environmental advantages. Buildings with lower energy use typically have lower running costs for both owners and renters. Furthermore, houses with sustainable characteristics might attract investors and tenants that care about the environment.  This beneficial shift is being fueled in large part by proptech, which is opening up and monetizing sustainable practices in the real estate industry.

Market Restraining Factors:

Concerns Associated With Data Privacy and Security Hamper Market Growth

• Proptech platforms collect and handle a variety of private data sets, such as financial records, property details, and personal information. Concerns over data security and privacy are raised by the possibility of major consequences from breaches or unauthorised access. Robust cybersecurity protocols and regulatory compliance are critical to allaying user concerns and promoting confidence. The PropTech industry's expansion is therefore constrained over the projected period of time by worries about data security and privacy.

Key Industry Developments:

In October 2022, nCino, Inc. and Ashman Bank collaborated on a property technology venture to transform the banking experience for property SMEs in the U.K. With its cloud-based and digital-first approach to real estate in commercial sector lending, Ashman Bank targets to drive transformation in the industry for SMEs.

In August 2022, Square Yards announced the implementation of interactive visualization, 3D, Augmented Reality (AR), VR, and artificial intelligence for its real estate solutions in Dubai. The platform makes use of high-definition 3D maps for high-reliability real estate visualization. With the solution, clients can explore more than 2,000 potential real estate properties across Dubai with its interactive 3D interface.

In July 2022, JLL Spark Global Ventures announced investments of more than USD 340 million in more than forty property technology startups since 2018. The company emphasizes on leveraging the technology to progress real estate development and management to investing and leasing while enhancing the experience of their commercial clients.

Report Coverage:

The report will cover the qualitative and quantitative data on the global PropTech Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

By Solution (Integrated Platform/Software, Standalone Software), By Deployment (Cloud, On-premise), By Property Type (Residential, Commercial), By End-user (Real Estate Agents, Housing Associations, Property Investors, Others (Mortgage Lenders and others))

Report Scope and Segmentations:

Key Companies in the Proptech Market Include:

• JLL Spark
• Henkel AG & Co. KGaA
• 3M Company
• Sika AG
• B. Fuller Company
• Bostik SA
• Dow Chemical Company
• BASF SE
• Avery Dennison Corporation
• Mapei S.p.A
• Permabond LLC
• DAP Products Inc.
• Franklin International
• ITW Performance Polymers
• Momentive Performance Materials Inc.
• Pidilite Industries Limited
• Hexion Inc.
• Jowat SE
• Arkema Group
• Huntsman Corporation
• LORD Corporation

Proptech Market Segmentation:

By Solution

• Integrated Platform/Software
• Standalone Software

By Deployment

• Cloud
• On-premise

By Property Type

• Residential
• Commercial

By End-user

• Real Estate Agents
• Housing Associations
• Property Investors
• Others (Mortgage Lenders and others)

Segmentation Analysis:

The market scope is segmented because of by Solution, by Deployment, by Property Type, by End-user.

By Solution

Based on the Solution of the market is segmented into Integrated Platform/Software, Standalone Software.

Provide an extensive range of tools and features covering many facets of real estate, finance, and transactions. Consider them as comprehensive solutions with the ability to handle tenant administration, marketing automation, CRM, financial analysis, and property listings. They facilitate users' workflows and improve their operational efficiency by offering a centralised platform.

Concentrate on particular duties or features in the real estate industry. Consider these as specific needs-based point solutions. Tenant screening software, lease management software, and property appraisal tools are a few examples. Users with particular needs can get a more specialised solution with Standalone PropTech Software.

By Deployment

Based on the Deployment of the market is segmented into Cloud, On-premise.

Supplied online and accessed from any internet-connected device. Provide flexible and scalable storage options since data and apps are housed on servers under the PropTech company's management. Generally demand a subscription payment in order to view the programme and receive updates.

Launched and installed on a user's personal device or on nearby servers. More power and flexibility to adjust the software to the user's unique requirements should be granted. To maintain the software's functionality, it could be necessary to pay one-time licencing fees and continuous IT maintenance expenses.

By Property Type

Based on the Property Type of the market is segmented into Residential, Commercial.

Attends to the requirements of investors, tenants, property managers, and owners in the residential real estate sector. Rental management software, tenant screening tools, virtual tour technologies, and property listing platforms are a few examples of solutions. Emphasises the simplification of residential property administration, rental, sales, and purchase processes.

Specialises in providing solutions for commercial real estate, including retail establishments, office buildings, and industrial sites. Software for managing facilities, platforms for negotiating leases, tools for space optimisation, and tools for property appraisal are a few examples. Aims to increase efficiency in commercial property administration, leasing, acquisition, and maintenance, among other areas.

By End-user

Based on the End-user of the market is segmented into Real Estate Agents, Housing Associations, Property Investors, Others (Mortgage Lenders and others).

PropTech solutions facilitate the work of agents by helping with duties such as virtual tours, property listing management, and client contact.  To conclude agreements more quickly, they might make use of systems for comparative market analysis (CMA), lead generation, and automated marketing.

Housing associations can manage their properties more effectively with the use of proptech.  Rent collecting, maintenance scheduling, and tenant management solutions can all lead to more resident satisfaction and operational efficiency. They can also make use of features that facilitate community formation and online communication portals.

PropTech provides investors with data-driven tools for managing their portfolios, market analysis, and property appraisal.  To find suitable properties, carry out due diligence, and monitor the performance of their investments, they might make use of real estate investing platforms.

PropTech offers tools to help lenders expedite the mortgage loan process, albeit it is not their only emphasis.  In order to speed up loan approvals and enhance the borrower experience, this can include loan application processing, automated underwriting, and digital closing technologies.

Regional Snapshots:

North America is a well-established market with a high rate of adoption of PropTech solutions across all user categories and property types. PropTech solutions that use AI and Big Data to manage properties and evaluate investments are of special interest to investors.

Europe is a market that is expanding quickly and places a high priority on innovation in fields like sustainability and smart buildings. Frameworks for regulations are being created to handle data privacy issues and guarantee the moral adoption of proptech.

People who are tech-savvy and highly populous live in Asia-Pacific. PropTech solutions are being used to solve issues in the real estate sector, such as the lack of transparency associated with urbanisation.

Latin America is a growing market that is becoming more and more interested in PropTech solutions that increase housing sector efficiency and affordability.

Proptech Market Report is also available for below Regions and Country Please Ask for that:

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions:

• How much the global Proptech Market valued?
• Which region has the largest share in 2024 for the global Proptech Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Proptech Market:

• Historic year: 2018- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Proptech Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: