PropTech Market, By Property Type (Residential, Commercial, and Industrial), By Deployment (Cloud-based, and On-premises), By End User (Housing Associations, Property Managers/ Agents, Property Investors, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jul 2024

Code : CMI7200

Pages :160

Formats :

Excel and PDF

Industry : Information and Communication Technology

Market Concentration and Competitive Landscape

PropTech Market Concentration By Players

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Rise of digital natives

Younger generations, having grown up in a digital environment, are increasingly influencing the real estate sector. These digital natives, accustomed to smartphones, social media, on-demand services, and streaming, expect seamless, personalized, and technology-driven experiences in real estate transactions. They heavily rely on online platforms for everything from property search and discovery to paperwork and relocation, significantly diminishing the traditional dominance of brick-and-mortar establishments.

Digital natives prefer tech-enhanced open houses featuring virtual and augmented reality, 360-degree views, and interactive floor plans for remote property browsing. They seek customized online portals that provide comprehensive listing details, neighborhood insights, and real-time updates accessible via mobile devices. Additionally, they favor paperless online systems for applications, e-signatures, and communication.

This generation is also increasingly inclined to manage their investment properties through proptech solutions, which streamline tenant screening, rent collection, maintenance requests, and repairs. Meeting the evolving demands of these digital-savvy consumers will be a crucial driver of innovation within the global proptech landscape.

Key Players Insights