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Proptech has been making a steady progress per JLL Technologies, which reported that the number of proptech companies has increased 4X over the last 10 years - going up from 2,000 to 8,000.
Just Getting Warmed Up
Despite this fourfold jump in proptech ventures, the current landscape offers more opportunities than ever, feel experts.
If you like to stay abreast with the latest, keep these three real estate technology trends in mind.
1️⃣ Proptech Expansion To Continue: Per this Forbes report, it’s likely that newer technologies and investment markets will begin to make a larger impact on the the real estate technology space.
Specifically, you might want to keep an eye on;
- Virtual Tours/AR/VR
- Online Transactions/e-signing/e-documentation
- Conversational AI
- Automation of Property Management
- Big Data
- Blockchain
- Real estate crowdfunding platforms
2️⃣ M&A Deals To Remain High: In the proptech space, the period of Jan-Sept 2021 recorded 40 merger and acquisition (M&A) deals, per this report, up from just 18 deals in 2020, which put 2021 on pace to see record levels of activity. Notably, 90% of all M&A deals in 2021 were strategic consolidations.