Property Technology Market, Global, 2024–2029

Property Technology Market, Global, 2024–2029

PropTech is Experiencing Transformational Growth Due to Demand for Sustainability and Operational Efficiency

The growing demand for property development and management solutions in the real estate sector is prompting the rapid adoption of software and platforms commonly known as property technology (PropTech). PropTech simplifies tenant management and property and asset information management and integrates transactions between tenants, owners, facility managers, and property developers in a single platform. Disruptive technologies like the Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), virtual reality (VR), and blockchain are revolutionizing the services offered by PropTech providers. They help improve business transactions, stakeholder engagement, and customer experience across the value chain. The integration of these technologies transforms and streamlines existing practices, improving efficiency.

In this study, Frost & Sullivan investigates the growth prospects of the global PropTech market. The study categorizes the global market into North America, Europe, Asia-Pacific, and the rest of the world. PropTech services have been segmented into construction and development, property management and leasing, investment and financing, and building data analytics. The study analyzes the factors driving and restraining the growth of PropTech across the globe and identifies the opportunities emerging from the changes in this space for market players and stakeholders to leverage. The base year is 2023, and the forecast period is from 2024 to 2029.