Rise of Digital to Push IT in Real Estate on a High Growth Curve
One of the most significant asset classes that exists is that of real estate. It is lucrative to almost everybody and size wise is as large if not greater than healthcare and equity. Besides, it does not discriminate between developed and developing economies, as lands across such classifications are hooked to this industry. The depth of penetration can be understood from the credit card debts alone.
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Besides, there is an entire fleet of professionals working to keep up the industry in good shape. People from construction professionals to marketing firms and real estate agents all form a network of strength behind the industry’s growth. Thus, the real estate world itself is forever brimming with opportunities.
To add to this, there is IT, making lives seamless for all, including real estate. It not just enables tapping into a large consumer base but also the ever growing segment of millennial population that is deft with computers and mobiles. It helps businesses in gaining the most of rise of internet, pervasiveness of mobile apps and high penetration of social media among the consumer base.
This is particularly important because adapting to this ever dynamic market base will hold the key to who takes away the largest slice of from growth that imminent. And, it should surprise no one that the market will grow at a steady rate. The decent CAGR (Compound Annual Growth Rate) that the market is set to chart will create lucrative growth opportunities for players. And, as said earlier, this will be attributable to the incorporation of digital – paying heed to consumer demands and evolving accordingly.
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As of now, the market is slightly fragmented and key players in the IT in Real Estate market landscape include Oracle Corporation, IBM Corporation, Accenture PLC, Microsoft Corporation, SAP SE, MRI Software LLC, and Salesforce, among others.