Press release
Comprehensive AI In Real Estate Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
What combination of drivers is leading to accelerated growth in the ai in real estate market?The growth of the AI in the real estate market is likely to be spurred by a rising uptake of IoT devices. Such devices denote physical objects or devices equipped with sensors, software, and connectivity capabilities that allow them to gather and share data online. AI in real estate employs both AI and IoT devices for market and leasing, predictive maintenance, managing utilities, and enhancing tenant experience. For example, the State of IoT-Spring 2022 report by IoT Analytics in May 2022 indicated that in 2021, there were 12.2 billion active endpoints, reflecting an 8% growth in the total number of IoT connections. The IoT industry is projected to witness a growth of 18%, amounting to 14.4 billion active connections in 2022. Consequently, the escalating adoption of IoT devices is fueling the growth of AI in the real estate market.
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What is the projected compound annual growth rate (CAGR) of the ai in real estate market from 2025 to 2034, and what factors influence it?
The market size of AI in the real estate sector has seen an impressive expansion in the previous years. It is projected to increase from $222.65 billion in 2024 to $303.06 billion in 2025, showcasing a compound annual growth rate (CAGR) of 36.1%. This immense growth during the historic period can be traced back to factors such as market analytics and forecasting, the emergence of chatbots and virtual assistants, property valuation and prediction, improved property search methodologies, and the automation of property management.
With the passage of time, we can anticipate a substantial rise in the AI in real estate market size. By 2029, it is expected to expand to "$988.59 billion," demonstrating a Compound Annual Growth rate (CAGR) of 34.4%. This impressive growth in the forthcoming period can be credited to factors such as the focus on data security, customization of real estate services, capability to predict market trends, improved customer engagement, and the need for intelligent building solutions. During the forecast period, key trends are predicted to involve individualized customer experiences, the application of predictive analytics in property valuation, upgraded property searches, virtual tours and visualizations, and the automation of property management.
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How are the latest trends influencing the growth of the ai in real estate market?
Tech advancements are becoming increasingly trendy in the AI in real estate industry. To maintain their market presence, firms in this sector are investing in cutting-edge technologies. For example, in September 2022, Restb.ai, a Spanish computer vision company for real estate, introduced MLS Suite for Multiple Listing Services in the realm of AI in real estate. The MLS suite, an assortment of software tools, was crafted to modernize MLSs. The AI-backed solutions aim to streamline the listing entry procedure for Multiple Listing Services, offer security to IDX and VOW website users, while also enhancing the value and richness of MLS data. One significant feature is the product's AI Tagging capability, enabling spontaneous extraction of property attributes data. Furthermore, it incorporates property descriptions, MLS Agent, and compliance, automating the detection of violations of any MLS or association rules, such as unauthorized use of listing images, thus enhancing compliance processes.
What are the major segments of the ai in real estate market and their role in driving growth?
The AI in real estate market covered in this report is segmented -
1) By Technology: Machine Learning, Natural Language Processing (NLP), Computer Vision
2) By Solution: Chatbots, Customer Behavior Analytics, Advanced Property Analysis, Customer Relationship Management (CRM), Data Analytics And Visualization, Lead Generation And marketing, Property Management
3) By Enterprise Size: Large Enterprises, Small And Mid-sized Enterprises (SMEs)
4) By Application: Design And Plan, Construction, Promotion And Sales
Subsegments:
1) By Machine Learning: Predictive Analytics, Price Optimization, Risk Assessment, market Trend Analysis
2) By Natural Language Processing (NLP): Chatbots For Customer Service, Sentiment Analysis, Document Analysis, Voice-Activated Search
3) By Computer Vision: Property Image Analysis, Video Surveillance And Security, Automated Property Valuation, Augmented Reality (AR) For Property Tours
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Which regions are key players in the growth of the ai in real estate market?
North America was the largest region in the AI in real estate market in 2024. The regions covered in the AI in real estate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the ai in real estate market?
Major companies operating in the AI in real estate market include Compass Inc., Redfin Corporation, REX Real Estate, Lexalytics Inc., Microsoft Corporation, Avaamo Technologies Pvt. Ltd., CAPE Analytics LLC, CognitiveScale UK Ltd., ComplyAdvantage, Hyro Technologies Inc., Entera SAS, Oracle Corporation, SAP SE, International Business Machines Corporation, Addepto, Keyway Technologies Inc., HouseCanary Inc., TRIGIGA Inc., GeoPhy Inc., Enodo Inc., Autohost Inc., Propic AI Inc., DEXMA Inc., Skyline AI Inc., Jones Lang LaSalle Inc., Engel & Völkers AG, Zillow Group Inc., Opendoor Technologies Inc., Knock Inc., Offerpad Solutions Inc., Homelight Inc., Reali Inc., Ribbon Home Inc., Orchard Home Loans Inc.
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What Is Covered In The AI In Real Estate Global Market Report?
• Market Size Forecast: Examine the ai in real estate market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ai in real estate market for a structured understanding.
• Key Players Overview: Analyze major players in the ai in real estate market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai in real estate market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ai in real estate market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai in real estate market.
• Industry Challenges: Identify potential risks and obstacles affecting the ai in real estate market.
• Competitive Landscape: Review strategic developments in the ai in real estate market, including expansions, agreements, and new product launches.
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