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Global Real Estate Agency And Brokerage Market Forecast 2023-2032 - Size, Lucrative Segments And Leading Regions | Realogy Holdings Corp., Mitsui Fudosan Co. Ltd., Berkshire Hathaway Inc., CBRE Group, FirstService Corporation
Real Estate Agency and Brokerage Market Size
The Business Research Company's Real Estate Agency And Brokerage Global Market Report 2023 identifies Economic growth and a rapidly growing urban population as the major driver for the real estate agency and brokerage market's growth in the forecast period. The increasing number of rural residents migrating into cities is resulting in an increasing demand for access to affordable housing and commercial spaces. This provides a significant opportunity for real estate service providers to improve housing, retail, and other commercial services. Globally, around 60% of urban settlements remained to be built.
The global real estate agency and brokerage market grew from $1,318.56 billion in 2022 to $1,414.35 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The real estate agency and brokerage market is expected to grow to $1,820.99 billion in 2027 at a CAGR of 6.5%.
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Major competitors in the real estate agency and brokerage market are Realogy Holdings Corp., Mitsui Fudosan Co. Ltd., Berkshire Hathaway Inc., CBRE Group, FirstService Corporation, Sekisui House, Savills plc, Jones Lang LaSalle Inc., Colliers International, and Shimizu Corporation.
A key trend in the real estate agency and brokerage market includes Real estate companies are investing in artificial intelligence applications to perform various functions such as property search, building management, and design. Artificial intelligence is helping real estate companies to find people looking to buy or sell properties, find a suitable property based on customer requirements, and redesign office spaces based on user behavior. According to the research conducted by Drooms, AI technology providers around 54% of property professionals surveyed already use artificial intelligence to improve keyword search and 69% believe AI gives their companies a competitive advantage by enabling the high-speed search of documents.
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The real estate agency and brokerage market is segmented -
• By By Type: Residential Buildings And Dwellings Brokers, Non-Residential Buildings Brokers, Mini warehouses And Self-Storage Units Brokers, Other Brokers
• By Mode: Online, Offline
• By Property Type: Fully Furnished, Semi-Furnished, Unfurnished
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the real estate agency and brokerage market.
The Business Research Company's "Global Real Estate Agency And Brokerage Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Real Estate Agency And Brokerage Market Include:
1. Executive Summary
2. Report Structure
3. Real Estate Agency and Brokerage Market Characteristics
4. Real Estate Agency and Brokerage Market Product Analysis
5. Real Estate Agency and Brokerage Market Supply Chain
…………………………
21. Key Mergers And Acquisitions In The Real Estate Agency and Brokerage Market
22. Market Background: Real Estate Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer
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