January 7, 2019 2019 PropTech Predictions
PropTech Predictions were recently covered by PropModo:
2018 was the biggest year ever for PropTech, both in the adoption of technology and the amount of funding that poured into the space. There has been a snowball effect that has quickened the pace of innovation to new heights. Predictions are that PropTech adoption will continue to accelerate in 2019.
There has been a noticeable increase in investors’ and property owners’ PropTech products. In 2019, it is expected that we will see more companies moving quickly to pilot on a product. Naturally, if the product demonstrates ROI, they will implement it more widely. Moving into 2019, the DNA of Real Estate Tech is changing. In the past, PropTech startups were often started by Real Estate professionals who saw pain points in the industry that could be addressed by technology. We are now starting to see seasoned tech entrepreneurs building companies focused on the CRE industry because they see an enormous market opportunity.
We will continue to see an influx of high-level technology talent entering the PropTech world that will help accelerate the pace of innovation. AI and machine learning applied to the vast amount of real estate data will begin to show value. New technology products aim to make sense out of all the data and provide property owners and occupiers with valuable insights. For example, Skyline AI leverages proprietary artificial intelligence to source, analyze, acquire and manage institutional-grade property investments.
In 2019, it is expected that mobile applications that enhance the experience of those who work in commercial office buildings by providing easy access to the building and to a variety of in building and local services will have a major surge. All in all, the changing DNA of PropTech startups, the rise in the utility of AI-Driving products, as well as the demand to improve the tenant experience with technology are some of the many positive trends that will drive the adoption of new products in this category in 2019.
Read more on PropModo.