IT in Real Estate

Global IT in Real Estate Market to Reach US$28.7 Billion by 2030

The global market for IT in Real Estate estimated at US$13.7 Billion in the year 2023, is expected to reach US$28.7 Billion by 2030, growing at a CAGR of 11.2% over the analysis period 2023-2030. On-Premise Deployment, one of the segments analyzed in the report, is expected to record a 10.9% CAGR and reach US$18.3 Billion by the end of the analysis period. Growth in the Cloud Deployment segment is estimated at 11.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.6 Billion While China is Forecast to Grow at 14.7% CAGR

The IT in Real Estate market in the U.S. is estimated at US$3.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.7 Billion by the year 2030 trailing a CAGR of 14.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.6% and 9.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR.

Global IT in Real Estate Market - Key Trends and Drivers Summarized

How Is IT Transforming the Real Estate Sector?

The adoption of information technology (IT) in the real estate sector is transforming how properties are bought, sold, managed, and developed. From virtual property tours and AI-driven property valuation tools to automated property management software, IT solutions are improving efficiency and transparency in real estate transactions. Real estate platforms and mobile apps are allowing buyers and renters to search for properties more easily, while blockchain technology is being explored for secure and transparent property transactions. Additionally, property developers are using data analytics and building information modeling (BIM) to optimize project planning and reduce construction costs, driving innovation in real estate development.

What Technological Advancements Are Driving IT in Real Estate?

Technological advancements such as AI, blockchain, and IoT are playing a critical role in enhancing IT applications in real estate. AI-powered tools are being used to analyze market trends, assess property values, and provide personalized recommendations to buyers and investors. Blockchain technology is enabling secure, transparent real estate transactions by creating tamper-proof records of property ownership and transfers. IoT devices are being integrated into smart buildings to enhance energy efficiency, security, and tenant comfort, offering real-time monitoring and control of building systems. These technologies are driving digital transformation in the real estate sector, improving efficiency, security, and customer experience.

How Do Market Segments Define the Growth of IT in Real Estate?

Solution types include property management software, real estate platforms, and building information modeling (BIM) systems, with property management software leading the market due to the growing demand for efficient and automated property management. Applications include residential, commercial, and industrial real estate, with the residential sector representing the largest segment as more individuals turn to digital platforms for property search and transactions. End-users include real estate agencies, property developers, and investors, with real estate agencies driving the market as they adopt IT solutions to streamline operations and improve customer engagement.

What Factors Are Driving the Growth in the IT in Real Estate Market?

The growth in the IT in real estate market is driven by several factors, including the increasing digitization of real estate transactions, the growing demand for smart buildings, and advancements in AI and blockchain technologies. As more consumers and businesses shift to online platforms for property search and transactions, the need for secure, transparent, and efficient IT solutions is rising. The development of smart buildings and the integration of IoT devices are also contributing to market growth, as property owners seek to enhance energy efficiency and tenant comfort. Additionally, the use of AI for property valuation, market analysis, and customer engagement is driving the adoption of IT in the real estate sector.

Select Competitors (Total 34 Featured) -

• Accenture PLC
• IBM Corporation
• Microsoft Corporation
• MRI Software LLC
• Oracle Corporation
• RealPage
• Salesforce
• SAP SE
• The Sage Group PLC
• Yardi Systems, Inc.

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