PropTech Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Residential, Commercial, Industrial), By Solution (Software, Services), By Deployment (On-Premises, Cloud-based), By End User (Housing Associations, Property Managers/ Agents, Property Investors, Others) and Region Forecast 2019-2030

PropTech Market size was valued at US$ 33,870.0 million in 2023 and is expected to reach a value of US$ 94,574.8 million by 2030, growing at a CAGR of 15.8% from 2024 to 2030.

The market refers to the innovative use of technology and digital solutions in the real estate sector. This market encompasses platforms, tools, and services that aim to simplify property transactions, improve property management, optimize construction processes, and improve overall user experiences. PropTech uses technology like AI, blockchain, IoT, and big data analytics to transform real estate operations.

The market is experiencing rapid growth as the real estate sector adopts digital transformation to address inefficiencies and meet evolving consumer demands. Key drivers include the surge in smart city initiatives, rising investments in real estate technology startups, and the demand for data-driven insights in property management. Regions like North America and Europe lead the market, driven by robust technological ecosystems and early adoption of digital platforms. Meanwhile, the Asia-Pacific region is emerging as a significant growth hub due to increasing urbanization and government support for smart infrastructure. Collaboration between real estate firms and tech innovators is fuelling advancements in areas such as virtual property tours, automated lease management, and predictive analytics.

Key Players

The global market share is inclusive of several PropTech companies such as Guesty Inc, Coadjute, VergeSense, Zillow, Inc, Altus Group, Reggora, Ascendix Technologies, Opendoor, Enertiv, HoloBuilder Inc among others.

List of Instances in PropTech Industry

• In February 2024, Spyre PropTech Venture Fund, with help from Venture Catalysts and Neovon, established the first phase of its Rs 400 crore fund for PropTech. This fund intends to invest in 30 early and growth-stage enterprises, with ticket sizes ranging from Rs 2 crore to Rs 8 crore for early-stage ventures and Rs 15 crore to Rs 40 crore for growth-stage companies, focusing on Series A and B fundraising rounds. The fund's goal is to drive innovation and growth in the PropTech industry by providing considerable financial support to emerging entrepreneurs.
• In October 2024, At the start of the Global PropTech Summit, Engineer Abdullah bin Saud Al-Hammad, CEO of the Real Estate General Authority (REGA), announced the establishment of the Saudi PropTech Hub (SPH). The project is intended to help local and foreign companies interested in real estate technology by encouraging innovation and collaboration in the PropTech sector.
• In August 2023, PropTechBuzz established a platform to transform worldwide PropTech product launches and marketing. The platform strives to benefit smaller businesses by giving them a forum to present their innovations alongside larger industry players, thereby leveling the playing field.

Facts & Figures

• In February 2024, the Tampa-based iApartments firm worked with UBS Realty Investors to expand its technology installation across U.S. properties.
• In South America, the Brazilian real estate industry is seeing increased adoption of digital technologies, which is fueling market expansion. One specific example is the rise in real estate management-focused businesses.
• Rize, a PropTech business based in Saudi Arabia, obtained $2.9 million in early capital in February 2024 to help them expand.
• Lithuania's PropTech Association held a Built Environment Decarbonisation Bootcamp in February 2024 to help global entrepreneurs and real estate organizations.

Key Developments

• In November 2024, ROPTIA, an innovative PropTech startup, will revolutionize the global property sector with its comprehensive "All-In-One" platform. ROPTIA aspires to be the "Google Workspace for the Property Industry," with the goal of streamlining, digitizing, and globalizing property activities. The platform allows property developers and other stakeholders to engage with worldwide audiences while managing properties, services, and goods more effectively than ever before.
• In September 2024, Patwarisaab, a Hyderabad-based PropTech business, launched Myne.vip, a platform for fractional ownership of real estate. This innovative venture seeks to democratize property investment by making high-value real estate assets available to a wider audience via fractional ownership. Myne.vip aims to alter the property investment environment by allowing more people to invest in quality real estate, making it more accessible and inclusive to all sorts of investors.
• In August 2024, Creditvest, a real estate management solutions company, created Parking Capital, a new investment vertical to transform the alternative investment market. Parking Capital is a PropTech platform that aims to make asset-backed investments in parking spots more accessible to a broader audience, allowing smaller investors to participate in the real estate market.

PropTech Market Segmentation

By Type: The commercial sector leads the market, driven by rising demand for digital solutions that improve operational efficiency, tenant engagement, and property management. As organizations embrace digital transformation, the demand for smart commercial buildings outfitted with Internet of Things (IoT) devices, energy management systems, and automated leasing processes grows dramatically. These advances assist commercial property owners and managers in optimizing space usage, lowering operational expenses, and increasing sustainability efforts.

The rising demand for smart building technologies is a major driver of growth in the commercial sector. These technologies improve resource management, such as power, heating, and air conditioning, resulting in more energy-efficient and environmentally friendly buildings. Furthermore, the rise of hybrid and remote work models has increased the demand for adaptable commercial spaces that can easily accommodate changing corporate needs. PropTech systems that enable virtual office tours, remote property management, and automatic lease renewals are becoming necessary for commercial real estate agents to remain competitive.

By Solution:  The software sector is the main solution in the market, owing to increased demand for property management, asset management, and customer relationship management (CRM) platforms. Property management software (PMS) has become an essential tool for real estate professionals, allowing them to automate tasks such as tenant and lease tracking, maintenance requests, and payment processing. These solutions are critical for increasing operating efficiency and lowering administrative costs, making them extremely desirable among property managers and real estate organizations. Another key reason driving the expansion of property and asset management software is the increased demand for data-driven insights. These platforms use advanced analytics to help property owners and managers make smart pricing, investment, and maintenance decisions, resulting in increased profitability and asset value. Furthermore, CRM software is redefining tenant engagement, enabling property managers to better understand consumer demands, respond to inquiries more quickly, and improve overall tenant satisfaction

By Deployment: The cloud-based deployment approach is the controlling category in the market, owing to the multiple benefits it provides in terms of scalability, cost-efficiency, and accessibility. Cloud-based solutions enable real estate professionals to manage properties, make transactions, and store data remotely, eliminating the need for significant infrastructure investments. This is especially useful for property managers, real estate agents, and developers who need to access and change data in real time from many locations. One of the key drivers of cloud adoption is the growing desire for mobile and remote capabilities. Cloud-based technologies enable users to manage operations, handle tenant contacts, process payments, and even conduct virtual property tours from anywhere, resulting in a more seamless experience for both users and tenants. Furthermore, cloud solutions often provide automated software updates, improved data security, and better connection with other business tools, making them particularly desirable to the current real estate industry.

By End User: Property managers and agents are the most active end users in the PropTech sector, owing to the growing need for digital tools that streamline property administration and improve operational efficiency. Property management solutions are vital for these professionals because they allow them to manage many properties, handle tenant inquiries, collect payments, track lease agreements, and oversee maintenance operations from a single platform. The increasing complexity of real estate portfolios, along with the requirement to maintain high tenant satisfaction, have rendered these solutions vital. With the emergence of technology-enabled property management solutions, property managers may now automate many traditionally manual operations, saving time and decreasing human error. Furthermore, when smart building technologies and IoT devices become more widely adopted, property managers will be able to better monitor and optimize energy consumption, security systems, and other building capabilities. These features not only improve service quality, but they also help to reduce costs and increase tenant retention.