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The global proptech market is driven by accelerated adoption of artificial intelligence (AI) and big data and digital transformation in real estate. The proptech industry generated $26814.53 million in 2022, and is anticipated to generate $119879.99 million by 2032, witnessing a CAGR of 16.5% from 2023 to 2032. Prime determinants of growth include accelerated adoption of artificial intelligence (AI) and big data and digital transformation in real estate. However, slower adoption of technology in real estate industry and traditional mindset are expected to hamper the market growth.