Press release
Global Real Estate Agency and Brokerage Market: Rising Growth, Key Players, and Future Trends for 2024-2029
Real Estate Agency and Brokerage Market Growth
What Is The Projected Market Size Of The Global Real Estate Agency and Brokerage Market And Its Growth Rate?
The global real estate agency and brokerage market has exhibited strong growth recently, turning more promising for the forthcoming years.
• 2024 Market Size: $1450.24 billion
• 2025 Market Size: $1551.03 billion (6.9% CAGR)
• 2029 Market Size: $1993.55 billion (6.5% CAGR)
The market growth has been bolstered by strong economic performance in emerging markets, increase in disposable income, government initiatives, infrastructural investment, expanding population, and urban development.
What Is Driving The Growth In The Real Estate Agency and Brokerage Market?
The tremendous growth of urban population and economic development are the prime drivers of demand in the real estate agency and brokerage market. Increasing migration from rural areas to cities has expedited the need for affordable housing and commercial spaces, providing a thriving opportunity for the real estate service providers. Globally, around 60% of urban settlements still needs to be built. As per the data shared by the World Bank in April 2023, around 4.4 billion people, or 56% of the world's population, currently reside in cities. It is expected that by 2050, nearly 7 out of 10 people will live in cities. This rapid urbanization is predicted to stimulate demand for real estate agencies and brokers, thereby enhancing market growth.
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Who Are the Key Players Driving Real Estate Agency and Brokerage Market Growth?
Key players in the global real estate agency and brokerage market include:
• Anywhere Real Estate Inc.
• Mitsui Fudosan Co., Ltd.
• Berkshire Hathaway Inc.
• CBRE Group
• FirstService Corporation
• Jones Lang LaSalle Inc.
• Sekisui House
• Savills plc
• Cushman & Wakefield Inc., and more.
What Are The Key Trends In The Real Estate Agency and Brokerage Market?
Prominent trends in the market include:
• Focus on metaverse in real estate agency and brokerage
• Use of augmented reality and virtual reality
• Adoption of artificial intelligence
• Launch of consumer-facing websites
• Mobile platforms for real estate agency and brokerage
• Focus on innovative solutions
• Strategic partnerships and collaborations
What Are The Segments Of The Global Real Estate Agency and Brokerage Market?
The market is categorized as:
1) By Type: Residential Buildings And Dwellings Brokers, Non-Residential Buildings Brokers, Mini warehouses And Self-Storage Units Brokers, Other Brokers
2) By Mode: Online, Offline
3) By Property Type: Fully Furnished, Semi-Furnished, Unfurnished
Which Region Leads The Real Estate Agency and Brokerage Market?
Asia-Pacific emerged as the leading region in the real estate agency and brokerage market in 2024, followed by North America. The report covers several other regions including Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Real Estate Agency and Brokerage Market Global Market Report?
- Market Size Analysis: Analyze the Real Estate Agency and Brokerage Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Real Estate Agency and Brokerage Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Real Estate Agency and Brokerage Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Real Estate Agency and Brokerage Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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