As private equity firms, venture capital funds and commercial brokerages continue to pour billions into the PropTech sector, in the future, the PropTech technologies and new business models will be tested against the time. While there exist a plethora of solutions for real estate technology developed by PropTech firms, several vital trends will shape the marketplace in the coming future as more companies capitalize on technological innovation and growth in the space to serve the millions of businesses and customers.
It is expected that digital connectivity will become the single most important differentiating factor when it comes to attracting factor when it comes to attracting tenants to commercial and residential buildings. With the upcoming deployment of 5G, the next evolution in cellular technology, more building owners will be aligned to future-proof their real estate assets. As consumers gain access to 5G through handsets slated to hit the market in the coming years, and the technology permeates through the marketplace, users will expect similar capabilities inside of commercial real estate buildings.
As the demand for data from consumers, cloud-based services, and smart building IoT devices increases exponentially, more commercial building owners who want to compete for high-paying tenants will need to adapt their structures for 5G. The commercial real estate industry is undergoing massive structural change through a concept known as space-as-a-service. The SPaaS is a business model, in which property owners essentially provide a suite of services that enable tenants to utilize the space efficiently, entails everything from digital connectivity to furniture, fixtures and even the staffing required for operating their businesses.
On that note, we present to you a special edition on PropTech solution providers. We are featuring some of the most promising players in the PropTech solutions industry who provide exceptional technology solutions related to the real estate market. We hope this edition will help you optimize your technology investments and deploy new capabilities.
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