The global PropTech market revenue was around US$ 31.2 billion in 2023 and is estimated to reach US$ 119.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 16.5% during the forecast period from 2024 to 2032.

Property technology is the hub of the real estate industry with software, technology, and digital solutions that are planned to maximize the research, marketing, sale-purchase, and management of properties. With the help of cutting-edge technologies like IoT, AI, data analytics, and blockchain, the property technology market is reshaping different aspects of the real estate business.

Factors Influencing Market Growth

- The surge in the adoption of digital technologies like big data and AI and digital transformation in the real estate sector is anticipated to propel the growth of the PropTech market.

- The rising demand for automation is anticipated to propel the growth of the PropTech market during the forecast period.

- The slower adoption of technology in the real estate industry and the conventional mindset for property-associated processes hinder the growth of the PropTech market.

- The expansion of PropTech solutions in the commercial and industrial sectors is anticipated to offer lucrative growth opportunities for the PropTech market in the future.

Impact of COVID-19

The impact of the COVID-19 pandemic had a significant influence on the PropTech industry as social distancing measures propelled the demand for online property management tools, virtual property tours, and digital contract signing platforms.

Also, finding, selling, renting, buying, and investing in property comes with the same complicatedness as any evolved industry and requires the right technology to allow its potential. Thus, well-equipped PropTech services during the COVID-19 pandemic supported the reaction of modern real estate agencies to transforming consumer expectations and market dynamics.

Regional Analysis

In 2023, North America dominated the global PropTech market in terms of revenue. This is attributed to the rise in investment in developed technologies like AI, business analytics solutions, cloud-based services, and IoT to enhance the customer and business experience is expected to drive the growth of the PropTech market.

Also, Asia-Pacific is anticipated to show the highest growth in the global PropTech market during the forecast period because of the rise in the penetration of digitalization and higher adoption of evolved technology.

Leading Companies

The leading prominent companies profiled in the global PropTech market are: -

- Zillow, Inc.
- Altus Group
- Opendoor Technologies, Inc.
- Guesty Inc.
- ManageCasa, Inc.
- Qualia
- HoloBuilder, Inc.
- Zumper Inc.
- Ascendix Technologies
- Coadjute Limited
- Other prominent key players

Segmentation Outline

The global PropTech market segmentation focuses on Component, Deployment Mode, Type, End-User, and Region.

Segmentation based on Component

- Solution
- Service

Segmentation based on Deployment Mode

- On-premise
- Cloud

Segmentation based on Type

- Residential
- Commercial

Segmentation based on End-User

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

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa