Updated: May 2
From US$3 billion in 2014 to US$18 billion in 2018, fundraising in the proptech, or property technology, industry has dramatically increased. Experts affirm that investors believe that proptech will have a significant influence on the industry for the coming years. Investing News Network released an interesting article about this in it's latest publication.
PropTech is a concept used to explain how technology and innovative ideas can transform property management strategies and the business model. For example, “digital accessibility is one aspect of PropTech that bridges the gap between brokers and potential buyers. Real estate brokerage companies saw a 494% increase in requests for agent-led video home tours in 2020”. PropTech also involves the use of data, software and technology based platforms to optimize building systems such as HVAC, electrical, utilities and others.
But why will it impact the future?
PropTech can bring efficient solutions in order to create healthier spaces. For example, it aims to solve issues related with indoor air quality by monitoring and controlling air purification.
“A Canadian company that is uniquely positioned to leverage the growing demands of the PropTech industry is Universal PropTech (UPI). UPI is an innovative control systems company focused on building optimization by utilizing its proprietary systems. UPI has brought Fresh-Aire UV, AtmosAir and Air Sniper’s IAQ systems to market, which can disinfect and/or deodorize the air”.
Uhoo web page published a recent article in which it is affirmed that proptech can integrate existing infrastructure, technology and connectivity in order to create systems that ensure the environment's control across operations, sanitation and resource management. This will inevitably assure that buildings can be safer for occupants.
“By implementing smart building monitoring, data and maintenance, and collection systems through interconnected devices and IoT technologies, Proptech provides knowledge and control. It comes with the benefit of integrating performance, operations, and tenant experience to enhance decision-making and capital allocation. This provides significant benefits since smart building managers can consolidate each of these findings to improve occupant wellbeing”.
At MKThink we're developing technologies and strategies to help clients improve spatial intelligence in order to create productive and safer environments. To learn more about how MKThink helps organizations strategize their future, please contact us.