The IT in real estate market is projected to grow from USD 5.03 Billion in 2016 to USD 8.91 Billion by 2021, at a CAGR of 12.1% during the forecast period.
Growth in this market is mainly attributed to the increasing demand for smart technological solutions in the real estate sector to cater to varied preferences of customers, popularity of asset & property management solutions, increasing demand for enterprise applications to manage projects, and growing need to manage data and ensure security of sensitive information.
Use of IT in the real estate sector has resulted in the efficient management of information and smooth conduct of various business processes. The customer relationship management (CRM) and business intelligence models are gaining traction with organizations keen to incorporate industry's best practices and extend administrative support to their customers.
The IT in real market has been segmented on the basis of enterprise application, security solution, deployment type, service, and region. Among all enterprise applications, the enterprise resource planning segment is expected to lead the IT in real estate market, owing to the increasing adoption of ERP solutions by real estate organizations.
In terms of deployment type, the on-premises segment is estimated to contribute the largest share to the IT in real estate market in 2016, whereas, the cloud segment is expected to grow at the highest CAGR during the forecast period. The growing adoption of SaaS applications by real estate enterprises is offering lucrative growth prospects for cloud-based deployment of IT solutions.
Most of the vendors offering IT solutions have adopted agreements, collaborations, and partnerships as their key growth strategies to expand their client base and enhance customer experience.
For instance, in February 2016, Deloitte and IBM entered into a partnership to launch Deloitte LeasePoint solution, powered by IBM Watson Internet of Things (IoT) and real estate management software, IBM TRIRIGA. The strategy of new product launches/developments has also been adopted by key players operating in this market.
For instance, in January 2016, Microsoft Corporation launched Microsoft HoloLens, which is a virtual reality headset that allows users to look at images in 3D.
HoloLens is extensively used by the real estate sector in order to gain an understanding about the planning, designing, construction, and operation of buildings.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Global It in Real Estate Market, By Enterprise Application
7 Global It in Real Estate Market, By Service
8 Global It in Real Estate Market, By Deployment Type
9 Global It in Real Estate Market, By Security Solution
10 Regional Analysis
11 Competitive Landscape
12 Company Profiles
- Accenture Plc
- Ibm Corporation
- Microsoft Corporation
- Mri Software Llc
- Oracle Corporation
- Sap Se
- The Sage Group Plc
- Yardi Systems Inc.
For more information about this report visit http://www.researchandmarkets.com/research/wndsfp/it_in_real_estate
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SOURCE Research and Markets