Home > Media & Technology > Information Technology > IT Applications > Proptech Market

Proptech Market Size

Report ID: GMI7756
Published Date: Dec 2023
Report Format: PDF

Download Free Sample

Proptech Market Size

Proptech Market was valued at USD 27.3 billion in 2023 and is poised to witness more than 15% CAGR from2024 to 2032, owing to the due to heightened acquisitions and collaborations among industry leaders. Strategic alliances and acquisitions between prominent companies bolster technological advancements, expand service offerings, and foster innovation.

To get key market trends

Download Free Sample

The increasing focus on sustainability and energy efficiency drives demand for proptech solutions. Innovations in smart building technologies, renewable energy integration, and green construction materials align with the growing interest in environmentally conscious properties. Proptech enables the monitoring and management of energy consumption, optimizing sustainability efforts in real estate.

Proptech Market Report Attributes
Report Attribute	Details
Base Year:	2023
Proptech Market Size in 2023:	USD 27.3 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	15%
2032 Value Projection:	USD 92.9 Billion
Historical Data for:	2018 – 2023
No. of Pages:	300
Tables, Charts & Figures:	351
Segments covered:	Component, Deployment Model, Type and End-User
Growth Drivers:	Growing demand for smart buildings Growing digital transformation in real estate industry Rise of co-working and flexible spaces Increasing use of IoT, AI, ML in real estate industry
Pitfalls & Challenges:	High initial costs Resistance to adoption

Learn more about the key segments shaping this market

Download Free Sample

However, several constraints hinder the proptech market. Regulatory complexities pose challenges, necessitating compliance with diverse legal frameworks. Resistance to technological adoption within traditional real estate practices slows innovation, hindering widespread integration of advanced solutions. Market fragmentation and data privacy concerns also impede progress, creating barriers to seamless collaboration and standardization. Additionally, the industry's reliance on physical assets requires time for full-scale technological implementation. Overcoming these hurdles demands strategic approaches to navigating regulations, fostering tech adoption, and establishing cohesive industry standards.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of proptech was worth USD 27.3 billion in 2023 and is estimated to register a CAGR of over 15% between 2024 & 2032 as it enables the monitoring and management of energy consumption, optimizing sustainability efforts in real estate.

In 2023, the solution segment held a market share of over 60% and will continue to gain demand through 2032, as these solutions revolutionize traditional real estate practices, enhancing efficiency and user experiences.

North America proptech market accounted for a major revenue share of around 45% in 2023 and will keep flourishing due to the search for innovative solutions for property management, transactions, and tenant experiences, as the region embraces AI-driven analytics, smart home technologies, and blockchain for secure transactions.

Coadjute Limited, CoStar Group, Enertiv, Guesty Inc., HoloBuilder Inc., Homelight, Houzz, Locale, ManageCasa, Inc., Opendoor Technologies, Inc., and Zillow, Inc. among others.