PropTech Market Size, Share, Trends and Industry Report | 2025-2034

PropTech Market Outlook

The global PropTech market attained a value of approximately USD 26.50 billion in 2024. Aided by rapid digitalisation in real estate and the rising demand for data-driven property management solutions, According to the report by Expert Market Research (EMR), the market is projected to grow significantly at a CAGR of 16.50% during the forecast period of 2025-2034 to reach a value of USD 122.04 billion by 2034.

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PropTech, or property technology, refers to the application of digital innovations and technologies in the real estate sector to improve the way property is bought, sold, rented, designed, constructed, and managed. These technologies include artificial intelligence (AI), big data, virtual reality (VR), Internet of Things (IoT), blockchain, and cloud computing, all integrated to make real estate services more transparent, efficient, and user-friendly.

PropTech Market Size and Share

With a market size of USD 26.50 billion in 2024, the PropTech sector has firmly established itself as a transformative force within the real estate industry. Its growth is underpinned by increasing investments from venture capital firms and real estate conglomerates, eager to capitalise on tech-enabled efficiencies and competitive differentiation.

PropTech solutions are gaining traction across both residential and commercial segments, with platforms facilitating digital property transactions, tenant management systems, smart building controls, and virtual property tours. The residential segment holds a considerable share due to rising consumer expectations for seamless online experiences, while the commercial real estate segment is increasingly adopting solutions for facility management, occupancy analytics, and sustainability compliance.

PropTech Market Trends

One of the key trends driving the PropTech market is the shift towards data-driven decision-making. Real estate companies are leveraging big data and predictive analytics to assess market trends, optimise pricing strategies, and understand tenant behaviour. This approach enhances operational efficiency and improves profitability by enabling informed and proactive business decisions.

Another notable trend is the rise of smart buildings and connected infrastructure. The integration of IoT devices and cloud-based systems allows real-time monitoring of energy use, security, HVAC systems, and occupancy levels. These features not only improve tenant comfort but also help reduce operational costs and meet regulatory requirements related to energy efficiency and sustainability.

The growing popularity of virtual and augmented reality (VR/AR) in real estate marketing is also shaping the market. These technologies allow potential buyers and tenants to experience immersive property tours remotely, reducing time-to-sale and increasing engagement. As travel and in-person visits remain uncertain or limited in many scenarios, virtual experiences are proving to be a reliable alternative.

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Drivers of Growth

Several key factors are fuelling the growth of the global PropTech market. The primary driver is the digital transformation of the real estate sector, which has traditionally been slow to adopt new technologies. Increasing competition, evolving consumer expectations, and a shift towards remote and hybrid work environments are pressuring firms to embrace innovative tools.

The rise of smart cities and sustainable urban development is also promoting the use of PropTech solutions. Governments and urban planners are investing in intelligent infrastructure and real-time systems to enhance livability and reduce the environmental impact of cities. This has led to increased demand for digital property solutions that can integrate with broader smart city initiatives.

Furthermore, the growing millennial and Gen Z population entering the housing market prefers mobile-first, tech-savvy property services. These generations value convenience, transparency, and speed in transactions, pushing real estate firms to innovate with user-friendly digital platforms, mobile apps, and AI-driven customer support tools.

PropTech Market Segmentation

The market can be divided based on soloution, deployment mode, property type, end use and region.

Market Breakup by Solution

Software
Services

Market Breakup by Deployment Mode

Cloud-Based
On-Premises

Market Breakup by Property Type

Residential
Commercial

Market Breakup by End Use

Housing Associations
Property Managers/ Agents
Property Investors
Others

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

Some of the major players explored in the report by Expert Market Research are as follows:

WeWork Inc.
Airbnb, Inc.
KE Holdings Inc. ("Beike")
Expedia Group, Inc.
Oravel Stays Limited
Beijing Ziroom Information Technology Co., Ltd.
Yanolja Co., Ltd.
Zumper, Inc
Opendoor Technologies Inc
ManageCasa, Inc
Others

Challenges and Opportunities

Despite its strong growth prospects, the PropTech market faces several challenges. One of the primary issues is data privacy and cybersecurity. As platforms collect sensitive information related to property ownership, financial transactions, and tenant details, ensuring robust data protection becomes essential.

Integration with legacy systems is another hurdle, particularly for traditional real estate firms. Many organisations struggle to align new PropTech solutions with existing infrastructure, slowing down adoption and creating inefficiencies. Resistance to change and lack of digital literacy in some areas also remain barriers.

However, these challenges come with opportunities. Companies that offer user-friendly, interoperable, and secure solutions will be well-positioned to capture market share. The trend toward regulatory compliance and ESG (Environmental, Social, and Governance) reporting offers scope for PropTech tools that help organisations track and disclose their environmental impact.

There is also immense potential in property financing and fractional ownership platforms, which are opening new avenues for investment and home ownership. These innovations make real estate more accessible and liquid, attracting a broader range of participants to the market.

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This release was published on openPR.