Global proptech market seen reaching $119.9 billion by 2032

Allied Market Research projects the proptech market will grow from $26.8 billion in 2022 to $119.9 billion by 2032, driven by online listings, automation, AI, virtual tours and sustainability tools. The report also flags North America as the current revenue leader, while Asia-Pacific is expected to grow fastest.

Why it matters: - Proptech is expanding across residential and commercial real estate as buyers, sellers and property managers move more work online. - The market’s projected jump from $26.8 billion in 2022 to $119.9 billion by 2032 signals strong demand for software and digital tools that cut time, paperwork and operating costs. - Growth in cloud, AI, virtual reality, IoT and blockchain could reshape how properties are valued, marketed, managed and transacted.

What happened: - Allied Market Research said the global proptech market was valued at $26.8 billion in 2022 and is projected to reach $119.9 billion by 2032. - The report forecasts a compound annual growth rate of 16.5% from 2023 to 2032. - The report was published June 11, 2026. - A sample report page is available here.

The details: - Proptech tools include online property listings and marketplaces that make it easier to search for and showcase properties. - Property management software automates tasks, improves tenant communication, saves time and money, and reduces paperwork. - Data analytics and artificial intelligence are improving property valuation accuracy and helping buyers make more informed decisions. - Virtual and augmented reality let potential buyers tour properties remotely. - IoT devices for energy management support more sustainable real estate operations. - On-premise deployment held the largest market share in 2022 because businesses can keep data within their own premises or dedicated infrastructure. - Cloud deployment is expected to post the fastest growth because it can provide real-time assistance and insights. - North America led the market in 2022, helped by investments in cloud computing and digital technologies. - Asia-Pacific is expected to grow the fastest as demand rises for proptech services that improve productivity and business continuity. - In the study, solution was the largest component segment in 2022. - Residential was the largest type segment in 2022. - Housing associations were the largest end-user segment in 2022. - Key market players include Altus Group, Ascendix Technologies, Coadjute Limited, Guesty Inc., HoloBuilder, Inc., ManageCasa, Inc., Opendoor technologies, Inc., Qualia, Zillow, Inc., and Zumper Inc.

Between the lines: - The report points to a market increasingly shaped by efficiency gains rather than simple digitization. - Pandemic-era adoption of virtual tours, online transactions and automation appears to have accelerated long-term use cases. - Blockchain remains an adjacent growth area because of its potential to improve transparency, security and efficiency in real estate transactions. - Sustainability features are becoming part of the proptech pitch, not just a separate real estate priority.

What’s next: - Cloud-based tools are positioned to gain share as companies seek faster access to data and operational insights. - Asia-Pacific’s growth trajectory suggests the next wave of proptech demand may come from organizations scaling digital operations across multiple sectors. - Report buyers can purchase the full study or inquire before buying. - Allied Market Research also listed related reports on digital education, data centre networking, dark web intelligence, social media management, AI in oil and gas, and contact center analytics.

The bottom line: - Proptech is moving from a convenience layer to core real estate infrastructure, and the market outlook reflects that shift.