How Big Is The Proptech Market? Why Is It Growing?
The UK is always popular for keeping up with the PropTech market trends and they keep investing in it knowing its growth and value. Currently, UK has the big PropTech market size. The market update is easy to keep up with Startups of London helping young entrepreneurs succeed and helping you know about ‘What is PropTech: Industry, Startups, and Market Trends’.
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How Big Is The Proptech Market? Why Is It Growing?
The UK has been number one in PropTech market trends and will always be on the top globally regardless of any challenges that come their way. The UK PropTech market size is growing. London plays a significant role in powering the industry, and it has become one of the most technologically advanced cities in the world.
How Big is PropTech's Market Size?
It’s an exciting time to be in the PropTech industry, the UK being the biggest in the PropTech market trends. There are close to 400 UK PropTech companies offering solutions for PropTech total addressable market in both commercial and residential real estate, a number that grows each month, and the market is only set to keep increasing over the next few years. Of those 400+ companies, 55% have a clear B2C focus, leaving 37% geared towards B2B businesses seeking products, and 7% offering services for both.
Many investors and companies regularly see the need to invest in or associate themselves with cutting-edge innovation in the UK to keep up with the market update.
The UK is a global leader in PropTech development, especially with advances made in geospatial technology. This is evident from products developed by companies such as LandInsight, Flock, and Skyscape. As part of a government-backed accelerator program, these three companies have been able to prosper globally through innovations involving geospatial data in their respective spheres of industry.
What is PropTech: Industry, Startups, and Market Trends
PropTech is an innovative approach in which technology optimizes the way people learn about different real estate options, compare them, rent them, buy them and resell them.
What is PropTech? Why & how you can get ready for the future?
PropTech, also called Real Estate Tech, is a short form of Property Technology. The term refers to the software, tools, platforms, apps, websites, and other digital assets that real estate practitioners employ, from brokers to appraisers to architects and construction managers, to increase the efficiency of the Real estate industry. PropTech is important because it brings about a new digital age for real estate, which can benefit globally.
Market Trends Prediction
As such, more and more major property firms are partnering with cutting-edge technology solutions based in London to remain viable in an increasingly digitized economy. The PropTech dominance will always be high for the UK Market.
According to an Oxford report, the PropTech market update will see a massive rise of startups and it is the best time for the PropTech investment. Companies are finally starting to see the light after stagnating for so long. The PropTech companies have been building up their ingenuity and creativity while less money was floating around. Now that some time has passed, the cash is slowly dispersing. Operators are trying to reach stability and maturity within the sector with both old and new technology that’s being continually refined, such as IoT (Internet of Things), Machine Learning (ML) and Artificial Intelligence (AI), along with other tech like Blockchain.4
Successful PropTech Companies in UK
Here are some of the proptech companies in UK who started small but got well along with the advancement of the industry, these companies will serve as a total inspiration for many startups out there:
Bricklane is a property investment technology company that enables its customers to invest in physical property from as little as £100 to £100+ million. Bricklane has built its business using the power of data and analytics for the benefit of both investors and buyers of residential properties.
Flatfair is a British startup solution for renters. It is a simple, safe and affordable alternative to tenancy deposits. The company’s mission is to improve the residential renting experience in England by taking the hassle out of renting so tenants can pay rent quickly and easily, without added charges or hidden fees. Flatfair has already received several awards and accolades from both investors and customers alike.
Landbay is a specialist marketplace lending platform for prime buy-to-let mortgages that provides investors and landlords with access to a range of investment opportunities. It is a fast-growing UK lending platform in the buy-to-let mortgage market.
Proptech Is Here To Stay
PropTech is here to stay and investors keep on pouring more and more money into the industry. Future trends in the property tech sector are bright and PropTech investment has only just begun to take off as interest grows on behalf of real estate professionals and customers alike. Through the London startup community Startups of London, young entrepreneurs will be able to find the answers to any and all questions related to the recent rise in popularity of proptech. Startups of London is dedicated towards helping the entrepreneurial community solve their issues through networking and knowledge sharing.