Global Artificial Intelligence (AI) in Real Estate Market was valued at USD xx Bn in 2019 and is expected to reach at USD xx Bn by 2027 at a CAGR of xx% over forecast period 2020-2027.
Global Artificial Intelligence (AI) in Real Estate Market
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The report covers an in depth analysis of COVID 19 pandemic impact on Global Artificial Intelligence (AI) in Real Estate Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Artificial Intelligence (AI) in Real Estate Market Dynamics:
Artificial intelligence (AI) has the potential to revolutionise the real estate sector and make it more innovative. AI tools are software solutions that are programmed to learn and optimise themselves. They can be used to improve and speed up complex processes. In this way, they serve to enhance the work step efficiency of real estate players such as sellers, brokers, asset managers and investors. Furthermore, this potentially leads to cost savings in real estate transactions. Various factors such as an increasing adoption of IoT devices and advanced technologies, such as Big Data and machine learning, growing adoption of smart devices and internet services across the globe are driving the market growth over forecast period. Experts estimate that the advance of AI in the real estate sector will increase the importance of technical solutions and affect the relevance of the human factor. In the future, artificial intelligence will in particular automate facility management, i.e. the management of real estate. It could also help to organise and analyse big data in the real estate sector.
However, factors such as real estate enterprises are still reluctant to adopt the technology due to the data privacy and safety issues associated with the technology, cyber security concerns and lack of technical expertise are restraining the market growth over forecast period.
Global Artificial Intelligence (AI) in Real Estate Market is segmented by Technology, Solution and by Region. By solution, Chatbots held 28.98% of market share in 2019 and is expected to keep its dominance over forecast period. AI-enabled chatbots are benefiting a lot of real estate businesses by collecting customer data and helping with improving lead generation and content marketing. A chatbots is an amazing virtual assistant for clients and a great way to deliver personalized content directly to leads. Chatbots is followed by Customer Behaviour Analytics and Advanced Property Analysis with xx% and xx% of market share respectively. Real estate enterprise are leveraging the AI to collect, report, and analyze large chunks of data to extract meaningful insights about the customers to meet their requirements. The ability of the technology to perform tasks, such as processing natural language and recognizing images, speech & text, and advanced machine learning algorithms, is a factor that will drive the demand for the technology.
By geography, market is segmented into North America, APAC, Europe, MEA& Africa and Latin America. Among all of these North America is dominated the global market with xx% of market share in 2019 and is expected to keep its dominance over forecast period owing to presence of major market players. In United States individual homeowners are using AI to automate security, lighting and cooling systems. In fact, the machine learning processes imbedded in a lot of AI-powered Internet of Things devices allows for loads of energy and cost-saving potential. North America is followed by APAC and Europe. APAC is expected to hold xx% of market share over forecast period. In China and India real estate companies are adopting using AI to speed up real estate transactions by cutting in half the manual input and time required to complete them. AI also holds the promise of increased efficiency when it comes to marketing, due diligence and sales processes.
The AI in Real Estate market is characterized by the presence of both multinational players and regional players. Report covers in depth analysis of key development, marketing strategies and company profiles of market leaders, potential players and new entrants. Some of the key players covered in this report are Google, Microsoft, IBM, Intel, AWS, SAP, Oracle, Salesforce, IPsoft, Palantir, Lexalytics, Inbenta technologies, Next IT, and Interaction. These key players are adopting various organic and inorganic growth strategies such as merger& acquisitions, collaborations, joint ventures, new product launches, strategic alliances, patent and diversification etc. to increase their regional presence and business opeartions. Recently Google has acquired more than 25 AI-based companies to enhance their capabilities and expand the product portfolio. Various start-ups such as Rex, Redfin, Localize, Divvy Homes, Apartment Ocean and Veros are leveraging on product innovations and fund-raising activities to gain a competitive edge.
The objective of the report is to present a comprehensive analysis of the Global Artificial Intelligence (AI) in Real Estate Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Artificial Intelligence (AI) in Real Estate Market dynamics, structure by analyzing the market segments and project Global Artificial Intelligence (AI) in Real Estate Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Artificial Intelligence (AI) in Real Estate Market make the report investor’s guide.
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Global Artificial Intelligence (AI) in Real Estate Market by Technology
• Machine Learning
• Natural Language Processing (NLP)
• Computer Vision
Global Artificial Intelligence (AI) in Real Estate Market by Solution
• Chatbots
• Customer Behaviour Analytics
• Advanced Property Analysis
• Customer Relationship Management (CRM)
• Data Analytics & Visualization
• Lead Generation and Marketing
• Property Management
Global Artificial Intelligence (AI) in Real Estate Market by Region
• North America
• APAC
• Europe
• MEA& Africa
• Latin America
Global Artificial Intelligence (AI) in Real Estate Market Major Players
• Avaamo
• Baidu Inc.
• Cape Analytics
• CognitiveScale
• Comply Advantage.com
• Descartes Labs
• Digital Reasoning Inc.
• GoogleInc.
• Inbenta Technologies
• Intel Corporation
• Interaction LLC
• Ipsoft Inc.
• Lexalytics Inc.
• Microsoft Corporation
• NEXT IT
• Oracle Corporation
• Palantir
• Salesforce.com Inc.
• SAPSE
• Zest Finance
• Zillow
• Compass
• Rex.
• Redfin
• Localize
• Divvy Homes
• Apartment Ocean
• Veros.
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