Pune, March 07, 2023 (GLOBE NEWSWIRE) -- REPORT OVERVIEW:
The global PropTech market size was valued at USD 20651.75 million in 2022 and is expected to expand at a CAGR of 17.04% during the forecast period, reaching USD 53077.5 million by 2028.
The global Proptech market research report covers the analysis and insights in relation to the size and growth rate of the market by various segments for the 2019-2030 period, with 2019-2021 as the historical data, 2022 as the base year and 2023-2030 as the forecast period. The report provides a detailed overview of the market size, growth rate and distribution of the market by various segments (mainly covering product type, technology, applications and geography) for the entire study period.
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The quantitative insights in the report are complemented by the coverage of the underlying market drivers, restraints, opportunities and trends supporting the analysis of the market in the forecast period. The report covers a detailed competitive landscape section with information on the key players present in the market, market share analysis and comprehensive profiles of these major players.
The global Proptech market research report also mainly covers information on the latest technological trends, recent industry developments (mergers, acquisitions and partnerships), impact of the pandemic on the market, regulatory overview, pricing analysis, supply chain analysis, Porter’s Five Forces analysis, etc. The report includes all major geographies (mainly covering North America, Europe, Asia Pacific, Latin America and Middle East & Africa) and key countries (mainly covering USA, Canada, UK, Germany, France, Italy, Spain, Japan, China, India, Australia, Brazil, Mexico, South Africa and UAE).
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LATEST TRENDS:
Continuous Technological Innovations to Transform Market Outlook
The Proptech market is expected to be positively influenced by technological trends driven by increased R&D spending and growing focus on innovation by industry players resulting in novel breakthroughs. Significant opportunities in the forecast period will lead to new players entering the space and the market getting more competitive. Consumer expectations will continue to evolve, which will be met by new product launches with new features or lower price points as top companies focus on maintaining their leadership position and new players try to create a market presence.
DRIVING FACTORS:
Upsurge in Demand from Key End-use Verticals to Accelerate Market Growth
The Proptech Market is projected to continue growing due to the surge in demand from major applications industries. Macroeconomic factors such as global economic expansion, rapid urbanization, growing middle class population and the increased spending capacity of consumers will drive the growth of key industries.
- The global economic output was over USD 100 trillion in 2022. The top 5 economies (USA, China, Japan, Germany and UK) accounted for around 58% of the global economic output in 2022.
- By 2030, middle class population is expected to increase to over 5.5 billion, accounting for over 65% of the global population.
- The global GDP per capita is projected to reach USD 13,920 in 2025, a 35% increase in the 2015-2025 period.
Industries are expanding their product portfolio or ramping up their existing manufacturing capacities to meet the growing demand for products and services among consumers. The rise of various end-use sectors would thus provide the market with a significant boost in the future.
RESTRAINING FACTORS:
High Cost and a Bleak Economic Outlook Hamper Demand
The Proptech Market has been experiencing rapid demand and adoption across various key applications and end-use sectors in recent years. However, the global economy, which has struggled since the pandemic, is forecasted to grow at a slower rate due to the Russia-Ukraine war, rising inflation and growing interest rates. All these factors are making consumers vary of making purchases adversely impacting the manufacturing sector and the overall market potential.
High cost of products and availability of alternatives is a key factor limiting its demand and adoption in several regions as well.
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COVID-19 IMPACT:
COVID-19 affected nearly every industry vertical, including the global Proptech market. Strict restrictions introduced by the respective governments to control the spread of the pandemic created several roadblocks for certain markets whereas the same factors provided a huge opportunity for others. Due to nationwide lockdowns in most countries, including restrictions on the movement of goods and people, the Proptech market was impacted. The COVID-19 pandemic affected the market dynamics across both developed regions as well as emerging economies. Nearly all regions had enforced stringent lockdowns and other restrictions to curb coronavirus spread. However, post-pandemic, all economies have experienced a gradual recovery, pushing the market back on track.
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Global Proptech Market: Segmentation Analysis
The research report includes specific segments by product type, technology, application and region (country). The report provides details on revenue during the historic and forecasted period. Understanding the segments helps in identifying the importance of different factors that aid market growth.
Proptech Market Segmentation by Product Type:
- On-Premise
- Cloud-Based
Proptech Market Segmentation by Application:
- Commercial
- Residential
REGIONAL INSIGHTS:
Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Developed economies will continue to account for a larger proportion of the market but the growth in per capita income and economic growth will lead to a much stronger growth in developing economies. However, the threat of recession looms over the market as inflation continues to rise. The high degree of uncertainty around the ongoing recession could have a significant impact on the Proptech market over the next few years.
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The Key Players Listed in Proptech Market Report are:
The Proptech Market report provides a detailed description of all the factors influencing the growth of these market players as well as their detailed profiles. The profiles include the general overview of the company, their product portfolio, financials (based on availability), SWOT analysis, recent developments and growth strategies. Some of the key players are as follows:
- Anyone Home
- Reonomy
- Zillow Group
- NoBroker
- Compass
- Knotel
- OpenDoor Technologies
- Zumper
- HoloBuilder
- Guesty
- Cloud Kitchens
- ManageCasa
- Rethink Solutions
- Ascendix Technologies
REPORT COVERAGE:
The Proptech Market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, type, technology and application/end users. Besides this, it offers insights into the market trends, highlights key industry developments such as product launches, partnerships, mergers, and acquisitions and encompasses several factors that have contributed to the growth of the advanced market over recent years.
The report includes major growth drivers, restraining factors, opportunities, and potential challenges for the market. Comprehensive insights into regional developments are explained in detail along with the list of major market players as well as strategies adopted by them to stay ahead of the competition. The latest industry developments are listed in the report. The study also offers a detailed understanding of the recent COVID-19 pandemic on the Proptech market. The ongoing recession and inflation as well as their impact on the market have been assessed in our latest research report.
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Detailed TOC of Global Proptech Market Report 2023
1 PropTech Market Overview
1.1 Product Overview and Scope of PropTech Market
1.2 PropTech Market Segment by Type
1.2.1 Global PropTech Market Sales Volume and CAGR (%) Comparison by Type (2018-2028)
1.3 Global PropTech Market Segment by Application
1.3.1 PropTech Market Consumption (Sales Volume) Comparison by Application (2018-2028)
1.4 Global PropTech Market, Region Wise (2018-2028)
1.4.1 Global PropTech Market Size (Revenue) and CAGR (%) Comparison by Region (2018-2028)
1.4.2 United States PropTech Market Status and Prospect (2018-2028)
1.4.3 Europe PropTech Market Status and Prospect (2018-2028)
1.4.4 China PropTech Market Status and Prospect (2018-2028)
1.4.5 Japan PropTech Market Status and Prospect (2018-2028)
1.4.6 India PropTech Market Status and Prospect (2018-2028)
1.4.7 Southeast Asia PropTech Market Status and Prospect (2018-2028)
1.4.8 Latin America PropTech Market Status and Prospect (2018-2028)
1.4.9 Middle East and Africa PropTech Market Status and Prospect (2018-2028)
1.5 Global Market Size of PropTech (2018-2028)
1.5.1 Global PropTech Market Revenue Status and Outlook (2018-2028)
1.5.2 Global PropTech Market Sales Volume Status and Outlook (2018-2028)
1.6 Global Macroeconomic Analysis
1.7 The impact of the Russia-Ukraine war on the PropTech Market
2 Industry Outlook
2.1 PropTech Industry Technology Status and Trends
2.2 Industry Entry Barriers
2.2.1 Analysis of Financial Barriers
2.2.2 Analysis of Technical Barriers
2.2.3 Analysis of Talent Barriers
2.2.4 Analysis of Brand Barrier
2.3 PropTech Market Drivers Analysis
2.4 PropTech Market Challenges Analysis
2.5 Emerging Market Trends
2.6 Consumer Preference Analysis
2.7 PropTech Industry Development Trends under COVID-19 Outbreak
2.7.1 Global COVID-19 Status Overview
2.7.2 Influence of COVID-19 Outbreak on PropTech Industry Development
3 Global PropTech Market Landscape by Player
3.1 Global PropTech Sales Volume and Share by Player (2018-2023)
3.2 Global PropTech Revenue and Market Share by Player (2018-2023)
3.3 Global PropTech Average Price by Player (2018-2023)
3.4 Global PropTech Gross Margin by Player (2018-2023)
3.5 PropTech Market Competitive Situation and Trends
3.5.1 PropTech Market Concentration Rate
3.5.2 PropTech Market Share of Top 3 and Top 6 Players
3.5.3 Mergers & Acquisitions, Expansion
............Continued
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