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The Search phase corresponds to activities related to searching for a property for the end-customer to buy or for real estate agents to list them. Calculating the total addressable market is the crucial first step in developing a winning sales strategy. PropTech Market Size is predicted to be valued at US$ 86.5 Prop Tech Will Drive the Future of Real Estate in 2022 How big is the proptech or real estate tech industry? The global market size of professionally-invested global real estate eclipsed $9 trillion in 2019. This growth is attributed to the hurdles faced by townships and apartments, such as receiving payments, performing maintenance, and tracking tenants. Today, 60.04% of those ReTech companies are working in the residential sector, 49.84% in the commercial sector, and 11.50% in retail. The number of PropTech start-ups has increased as a result of the work-from-home legislation. Here are the steps to calculate your TAM: Multiply your average sales price by your number of current customers. Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. Due to the pandemic, technological advancements including digitalization, cloud usage, big data analytics, and artificial intelligence have all gained acceleration and set the way for future growth in the property technology industry. For example, French iBuyer VendezVotreMaison.fr has reached 12 million in revenues in 2020, and ibuyers are emerging in most EU countries such as Greece (Protio), Spain (Prontopiso), Italy (Casa.io), UK (Nested), Finland (Kodit.io), and France(Unlatch, Homeloop).