Global IT Market in Real Estate Market Size

IT in Real Estate Market Analysis

The Global IT Market in Real Estate Industry is expected to grow from USD 10.54 billion in 2024 to USD 17.22 billion by 2029, at a CAGR of 10.32% during the forecast period (2024-2029).

It is becoming a driving force necessitating how real estate companies market products to their clients. The shift from physical to digital-based records and documents has been the initial stepping stone for adopting technology in real estate. With the COVID-19 pandemic, real estate developers suddenly face the need to adopt technology to get property sales going rapidly. CRM SaaS is the key for real estate companies that want to leverage enhanced software technology to drive their business.

• In the real estate industry, It is important to boost visibility and efficiencies across the organization. ERP systems can make it possible and reduce costs without rewriting industry benchmarks or compromising on quality. Oracle ERP Cloud has helped a US real estate company to increase productivity and streamline activities.
• The introduction of IT Software, CRM, ERP, and Business Intelligence are emerging trends in the real estate market. The market is being driven by urbanization and a surge in adopting new software tools for accurate data software, reduced risk of errors, and other amenities. Dominant players, like Autodesk, IBM, Microsoft, etc., provide solutions for different needs and requirements of the real estate industry. Therefore, the funding gained by these companies is expected to accelerate the use of property technology bounds and strengthen the rise of real estate software globally.
• Huge construction sites and housing programs by developing countries like China and India in Asia and countries like Serbia and Russia in Europe serve as a driving force for the cloud and on-premise real estate IT software and other property management platforms. These platforms provide efficiency, transparency, accessibility, and reliability to the entire project and real estate management.
• The use of technology in the real estate industry has resulted in more efficient information management and the smooth execution of numerous business activities. Organizations that want to embrace industry best practices and provide administrative support to their customers are using customer relationship management (CRM) and business intelligence models.
• However, automated communications and technological advancements can streamline the user's messaging, but they still can't replace human interaction and authentic communication, which can create a barrier to the growth of the IT market in real estate.