Iot In Proptech Market Worth $4.7 Billion By 2033

The IoT in proptech market is set to reach a remarkable valuation of USD 1.2 billion by 2023, with projections reaching a staggering USD 4.7 billion by 2033. This growth is driven by a notable compound annual growth rate (CAGR) of 14.6%. Energy management is a key concern within the market, propelled by the growing demand for eco-friendly and sustainable practices. Proptech integrates cutting-edge technologies, including the Internet of Things (IoT), to revolutionize the management and efficiency of properties. IoT sensors and devices enable the real-time monitoring of energy usage with the aim of reducing carbon footprints.