We Market Research’s most recent analysis forecasts that the IoT in Proptech Market is positioned to reach a valuation of $1.2 billion by 2023 and will likely rise to a substantial $4.7 billion by 2033. This growth is attributed to a noteworthy compound annual growth rate (CAGR) of 14.6% expected between 2023 and 2033. Energy management, a crucial element of Proptech, has become increasingly important in light of the global challenges posed by climate change and the need to reduce carbon footprints. IoT sensors and devices facilitate real-time energy usage monitoring in buildings and facilities, providing valuable data and insights that empower property owners, managers, and tenants to optimize energy consumption. Edge computing stands to revolutionize the IoT in Proptech market, bringing about a fundamental change in the management and operation of properties.
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