India Proptech Market Is Expected To Register A High CAGR In The Forecast Period 2024-2028
The adoption of various cutting-edge technology-based
real estate solutions and services is projected to propel the India Proptech Market's
growth.
According to
TechSci Research report, “India Proptech Market - By Region,
Competition Forecast & Opportunities, 2018-2028,” the India Proptech Market is
expected to register robust growth during the forecast period, 2024-2028.
Proptech, which
stands for Property Technology, is an umbrella term used to describe
technology-based solutions for the real estate industry. The Indian Proptech
market has witnessed significant growth in the last few years and is expected
to continue on this trajectory in the coming years.
Proptech, or property
technology, refers to technological tools used by the real estate sector to
improve the way real estate is bought, sold, studied, and maintained. Big data,
artificial intelligence (AI), machine learning, virtual reality (VR), augmented
reality (AR), the Internet of Things (IoT), 5G, and blockchain are all examples
of proptech. As the India government places a higher emphasis on real estate
and technology adoption, new technologies and ideas are entering the market.
Proptech has a promising future in India. A booming real estate market and a
surge in entrepreneurship may result in a thriving proptech business that
upends how property is now managed. This industry presently has very few
businesses, but it should develop soon. As the real estate industry and
proptech in this sector evolve, the next few years should present exciting
prospects.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on the "India Proptech Market”
In India, real estate and
technology are rapidly coexisting, which is consistent with the country's
recent expansion in the real estate industry. The current surge in digital
technology is being driven by the rise of numerous property kinds, such as
residential, commercial, hotel, and building management services. The India
PropTech Market is being driven by the installation of smart property
management systems. The country's real estate industry is upgrading its
business models and responding to the expectations of a new generation of
clients with the help of proptech solutions. Many parts of the real estate
sector, including leasing, sales, marketing, and property management, are
becoming more reliant on smart technology. The local real estate sector is evolving,
and PropTech technology is intelligently and efficiently improving customer
experience.
The infrastructure is
expanding in accordance with the need for data protection, as data is a
critical component for real estate developers. Monthly transactions, as well as
a variety of important information such as rents, true selling prices, and
secondary market transaction prices, must be thoroughly tracked. Customers may
discover more about the property and the terms of the transaction procedures by
utilizing PropTech. The database may only be accessed by authorized technology
users who use the given credentials to validate the papers' validity.
Unauthorized users are not permitted to access the database under any
circumstances since doing so would break the database's integrity constraints.
The need for secured database has resulted in the Proptech Market’s nationwide
expansion.
India PropTech Market by Solutions (Business Intelligence, Facility
Management, Portfolio Management, Real Estate Search, Asset Management,
Enterprise Resource Planning, Others), By Applications (Residential (Multi
Family Housing, Single Family Housing, Others), Commercial (Retail Spaces,
Office Spaces, Others), By Deployment (On-Premises, Cloud), By End Users
(Housing Associations, Real Estate Agents, Property Investors, Others).y
Key market
players in the India Proptech Market include:
- Livspace.com
- Magicbricks
Realty Services Limited
- House of
Kieraya Private Limited (Furlenco)
- Clicbrics
Technologies Pvt. Ltd
- NoBroker
Technologies Solution Pvt. Ltd
- NestAway
Technologies Pvt Ltd
- Infra.Market
- Proptiger.com
- Square Yards
- Zolostays Property Solutions Private Limited
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“The Indian Proptech market has seen significant growth in
the last few years, driven by the increasing demand for affordable housing, the
need for transparency in real estate transactions, and the growing adoption of
digital platforms. With the current developments in proptech, startups may more
carefully choose their area of interest, pinpoint their ideal market, and put
the best strategies into action to achieve their objectives. Agents and
investors are anticipated to continue to be interested in cutting-edge
technology even after the necessity for masks and social distance has subsided
since PropTech has enabled real estate firms thrive despite the pandemic. The
ongoing focus on property technology in future innovations is predicted to
increase over the forecast period, 2023-2028.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India PropTech Market By Solutions (Business Intelligence,
Facility Management, Portfolio Management, Real Estate Search, Asset
Management, Enterprise Resource Planning, Others), By Applications(
(Residential (Multi Family Housing, Single Family Housing, Others), Commercial
(Retail Spaces, Office Spaces, Others)), By Deployment (On-Premises, Cloud), By
End Users (Housing Associations, Real Estate Agents, Property Investors,
Others), By Region, Competition Forecast & Opportunities, 2018-2028,” has assessed the India Proptech
market's future development potential and provides data and information on
market size, structure, and projected market growth and assists decision makers
in making informed investment decisions. Furthermore, the study identifies and
analyses emerging trends, as well as key drivers, constraints, and
opportunities in the India Proptech market.
Contact
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