PROPTECH MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America dominates global PropTech market. The region is expected to account for highest market share of 38.1% in 2024. With widespread digitalization and growing startup culture, the U.S., in particular, has emerged as the innovation hub for new PropTech solutions. Major real estate companies and property developers in the region have keen interest in partnering with startups and adopting new technologies. Moreover, significant venture capital funding in the region has supported the growth of young PropTech companies. The presence of major technology companies has also boosted research and development activities.

Asia Pacific has been fastest growing regional market for PropTech.  Rapid urbanization and growing smartphone penetration have made the consumers more tech-savvy. The governments are also actively supporting startups through various policy initiatives to boost technology adoption. Significant funding from venture capital firms are focused on boosting innovation in real estate sector of the region. Large developers and brokers in major cities have started exploring new ways to embrace technologies to enhance customer experience. Growing construction industry fueled by smart city projects can offer more opportunities for construction tech solutions. Countries like Singapore and Australia are leading adoption whereas India and China offer high growth potential.