What is the current size and annual growth rate of the property technology (proptech) market?
The property technology (proptech) market size has grown rapidly in recent years. It will grow from $36.08 billion in 2024 to $41.52 billion in 2025 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to growing urbanization, smart home automation, e-signature solutions for contracts, AI-driven property valuation, and crowd-funded real estate investments.
The property technology (proptech) market size is expected to see rapid growth in the next few years. It will grow to $72.96 billion in 2029 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to AI-driven property valuation, highly use of blockchain for secure transactions, mobile applications for property transactions, cloud-based property management systems, drone technology in property surveying. Major trends in the forecast period include rise of artificial intelligence (AI) and machine learning, blockchain for security and transparency, smart building technologies, data security and privacy measures, flexible and remote work solutions.
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How has the property technology (proptech) market evolved, and what factors have shaped its growth?
The increasing demand for property management services is expected to propel the growth of the property technology (PropTech) market going forward. Property management services refer to the administration, operation, and oversight of real estate properties on behalf of owners, including tasks such as tenant management, maintenance, and rent collection.The rise in property management services can be attributed to increased demand for rental properties, growth in real estate investments, and a shift toward outsourcing property management to professionals for efficiency and compliance with regulations. Property technology (PropTech) boosts demand for property management services by streamlining operations, enhancing tenant experiences, and enabling data-driven property management, making outsourcing more appealing to property owners. For instance, in May 2024, according to the Scanlans Property Management LLP, a UK-based property management company, as of 2023, the UK has 22,751 property management service businesses, marking a 3.3% increase from 2022. Therefore, the increasing demand for property management services is driving the growth of the property technology (PropTech) market.
What are the major segments of the property technology (proptech) market?
The property technology (proptech) market covered in this report is segmented –
1) By Component: Solution, Service
2) By Deployment: On-Premise, Cloud Learning
3) By Property Type: Residential Property, Commercial Property
4) By End User: Housing Associations, Property Managers Or Agents, Property Investors, Other End Users
Subsegments:
1) By Solution: Software Solutions, Hardware Solutions
2) By Service: Consulting Services, Implementation Services, Maintenance And Support Services
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Which companies dominate the property technology (proptech) market?
Major companies operating in the property technology (Proptech) market are Opendoor Technologies Inc., Airbnb Inc., WeWork Companies Inc., Stitch AI Inc., Compass Inc., EquipmentShare.com Inc., HomeLight Inc., Pacaso Inc., Kin Insurance Inc., VTS Inc., Hometap Equity Partners LLC, Roofr Inc., Homeday GmbH, Engrain LLC, Landbay Partners Limited, Bilt Rewards Inc., Orchard Platform Corporation, flatfair Limited, Plentific Limited, Lavanda Ventures Ltd., HomeViews Limited, Ideal Flatmate Ltd, Ohmyhome Pte. Ltd., Acaboom Limited
How will evolving trends contribute to the growth of the property technology (proptech) market?
Major companies operating in the property technology (Proptech) market are focusing on technological strides, such as the PropTech platform, to sustain their position in the market. The PropTech platform refers to the intersection of the real estate industry with technology and software. For instance, in September 2022, HDFC Capital and Invest India, an India-based company, jointly introduced the PropTech platform called HDFC Real Estate Tech Program, which aims to foster collaborations between technology companies and the real estate sector. The platform’s main objective is to identify, acknowledge, and honor groundbreaking innovations in the fields of construction tech, sales tech, fintech, and sustainability tech within the real estate industry.
What are the key regional dynamics of the property technology (proptech) market, and which region leads in market share?
North America was the largest region in the property technology (PropTech) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the property technology (proptech) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Property Technology (Proptech) Market Report 2025 Offer?
The property technology (proptech) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Property technology (prop-tech) refers to using technology to innovate, streamline, and enhance various aspects of the real estate industry. This includes software, hardware, and platforms that digitize and optimize property management, development, sales, leasing, and investment processes. PropTech solutions leverage technologies such as artificial intelligence, big data analytics, the internet of things (IoT), and blockchain to improve efficiency, transparency, and user experience in real estate transactions and operations.
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