The North America PropTech Market would witness market growth of 14.7% CAGR during the forecast period (2022-2028).
Proptech and related sub-sectors have enormous potential to unleash real estate potential in rural and urban regions and drive holistic localized development as internet penetration and digitalization become pervasive in developing (Tier-II and Tier-III) cities. Prop Tech companies make up more than 6% of all officially recognized startups.
In terms of overall capital raised throughout sixty-six rounds, the nation ranks fourth (for this industry), with around USD 89.1 million. Some of the most well-known brands in this sector, where buyers, sellers, and agents can communicate and share real estate information instantly, are 99acres, Magicbricks, and Nobroker.
The real estate technology sector is also seeing growth from blockchain technology. The majority of people associate cryptocurrencies like Bitcoin with distributed ledger technology. The way we purchase, sell, and rent real estate, however, might change as a result.
In October 2022, Census estimated that the United States would have spent $1,794.9 billion on construction. Private construction expenditures totaled $1,420.4 billion. Roughly 1.2 million men and women, i.e., approximately 7% of the labor force, are employed in Canada's construction industry, which is a continually growing sector. There are big plans for building all around the country. The United States is the top travel destination for Mexican visitors. 10.4 million Mexicans traveled to the US in 2021, accounting for 47% of all international travelers. Hotels and restaurants would thus become more prevalent. The PropTech market will have growth prospects in the North America area with the expanding building activity throughout the North American countries.
The US market dominated the North America PropTech Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $18,424.1 million by 2028.The Canada market is poised to grow at a CAGR of 17.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 16.3% during (2022 - 2028).
Based on End-user, the market is segmented into Housing Associations, Property Managers/ Agents, Property Investors/ Residents and Others. Based on Property Type, the market is segmented into Residential and Commercial & Industrial. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Solution, the market is segmented into Software and Service. Based on Software Type, the market is segmented into Property Management, Asset Management, Sales & Advertisements, Work order Management and Customer Relationship Management & Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global PropTech Market is Estimated to reach $64.3 Billion by 2028, at a CAGR of 15.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Altus Group Limited, Ascendix Technologies, Zumper, Inc., Opendoor technologies, Inc., Reggora, Inc., Guesty Inc., Holo Builder (FARO Technologies, Inc.), Zillow Group, Inc., ManageCasa, Inc., and Coadjute Limited.
By End-user
By Property Type
By Deployment Type
By Solution
By Country
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