Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 19.5 Billion | USD 32.2 Billion | 6.5% | 2022 |
FrequentlyAsked Questions
Proptech, or property technology, refers to all the technological tools used by real estate professionals to improve the process of buying, selling, researching, marketing, and managing a property. Depending on whatever lens people are viewing through, these cutting-edge technologies are also known as Real Estate Tech, Retech, Realtech, and Commercial Real Estate (CRE) Tech. Proptech always refers to a strong alignment between real estate and technology, but, at its foundation.
The fast use of technology and technical innovation in the real estate industry is credited with driving the growth of the global proptech market. When purchasing real estate, consumers are likely to move their preferences toward helpful solutions. A few more variables to assist the expansion of the proptech business in the next years include technology-based property management, high-quality property visualizations, and an overall convenient real estate investing procedure.
According to the report, the global PropTech market size was worth around USD 19.5 billion in 2022 and is predicted to grow to around USD 32.2 billion by 2030.
The global PropTech market is expected to grow at a CAGR of 6.5% during the forecast period.
The global PropTech market growth is expected to be driven by North America. It is currently the world’s highest revenue-generating market due to the presence of well-known players in the region, including Altus Group, Ascendix Technologies, Zumper Inc., and Opendoor.
The global PropTech market is dominated by players like Altus Group, HoloBuilder, Inc., Zumper Inc., Reggora, Ascendix Technologies, Guesty Inc., Zillow, Inc., ManageCasa, Coadjute, VergeSense, Opendoor, Homelight, Enertiv, Qualia and Proptech group among others.
The PropTech market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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