GLOBAL IT MARKET IN REAL ESTATE - GROWTH, TRENDS, AND FORECASTS (2023 - 2028)


Real Estate IT Market Analysis:

The Global IT Market in Real Estate is projected to experience substantial growth, with an estimated increase from USD 9.55 billion in 2023 to USD 15.61 billion by 2028, reflecting a compound annual growth rate (CAGR) of 10.32% during the forecast period (2023–2028).

This growth is being driven by the increasing importance of technology in the marketing strategies of real estate companies. The transition from physical to digital records and documents has paved the way for the adoption of technology in the real estate sector. The COVID-19 pandemic has further accelerated the need for real estate developers to embrace technology in order to expedite property sales. CRM SaaS (Customer Relationship Management Software as a Service) is a crucial tool for real estate companies seeking to leverage advanced software technology to drive their business.

In the real estate industry, it is imperative to enhance visibility and operational efficiencies throughout the organization. Enterprise Resource Planning (ERP) systems can facilitate this objective by reducing costs without compromising industry standards or quality. For instance, Oracle ERP Cloud has proven instrumental in boosting productivity and streamlining activities for a real estate company based in the United States.

The introduction of IT software, including CRM, ERP, and Business Intelligence, represents emerging trends in the real estate market. This market is being propelled by urbanization and the growing adoption of new software tools that offer accurate data analysis, minimize the risk of errors, and provide other valuable features. Leading players such as Autodesk, IBM, and Microsoft offer solutions tailored to the diverse needs and requirements of the real estate industry. Consequently, the funding received by these companies is expected to accelerate the utilization of property technology and bolster the global growth of real estate software.

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