According to Propmodo, “Modernization and customization will define the next wave of PropTech.” Innovative solutions and standardized workplaces that offer results to an emerging workforce’s wants and needs are key to solidifying PropTech’s place as a must-have integration in the real estate world. The following are some of Propmodo’s predictions and expectations for the PropTech industry in the future:
Prediction: An Eco-Friendly Industry
PropTech is no exception when it comes to going green. Propmodo states that nearly 66% of consumers are willing to spend more on a product if it comes from a sustainable brand. An uptick in PropTech that builds smart/connected buildings and are able to reduce and conserve in efficient ways is predicted for the horizon of the industry.
Increases and Decreases in the PropTech World
PropTech has already shown to enhance work-life integration for its users, and boosts productivity and efficiencies along the way. This means we’ll inevitably see a more user-centric approach to development. However, Propmodo also sees a decrease in proprietary software in the future. While automation and tech tools are estimated to bring more meaning to the end consumer, proprietary software is projected to become a thing of the past.
Prediction: Smart Offices are a Necessity for PropTech
Once dubbed as a fun perk in the office, interconnected systems will soon become a necessity to users. The average office user has 50 tech products to use – this makes productivity hard to achieve. By linking employee manpower to their technological devices and other items of business, the industry will better experience and enhance productivity and efficiencies across the board.
Connected technology is a must for property owners in the future. And while PropTech is armed with the task of developing products that do everything (including connect on a personal level), the ability to modernize, customize and innovate will add value to the workforce and place PropTech as a necessary integration in the industry.