The rise of Prop Tech industry is seeing growth in the real estate market from $3386.11 billion in 2021 to an estimated $5388.87 in 2022, with an annual increase of 10% each year. What does this mean, and what is Prop Tech?
The new technologies with the rise of Web one, the traditional computer, followed by web two, digital handheld devices. Now we have web three, integrating technology into people’s homes and being more seamlessly integrated into our lives, like real estate.
There is, however, much confusion on what Prop Tech is and what it does; what it does is upgrade the value of the real estate. This is not separate Prop Tech from real estate but adds value to people’s properties.
The great resignation 2021 in the UK
UK’s Labour Force Survey in November 2021 showed that, of the 1.02 million people who moved jobs between July and September 2021, 391,000 of them had resigned; however, these numbers are not entirely clear cut, this is due to resignations and in industries like catering due to the effects of COVID-19.
There is also a significant move towards remote working, and with people’s moving from office work to working from home, meaning for real estate and Prop Tech is that there is now demanding for a new kind of home this is a home that is technologically sophisticated because homes are now not just places where people live.
Homes are now places of work, places of entertainment, and places to grow families; what this means for the rising trend of the Prop Tech industry is that homes now need to become universal to suit new lifestyles.
The use of technology will continue to be a factor on a large scale throughout the next 20 years, according to the Geopolitical Writer and Author as well as Geopolitical Strategist Peter Zilhen, because during this decade, the largest generation in the world has ever had the boomers will be retiring.
Places worldwide apart from the United States of America, France, and New Zealand in the developed world have replaced the populations with new millennials, unlike the rest of the developed world.
This means that Prop Tech and what brained acknowledges will be the possible solutions for a world where people have less and there are fewer people, which means solutions will need to be found in technology.
For example, the Japanese have more adults in diapers than newborn babies, and the answer is Prop Tech technology and other technologies making Japan the most technologically advanced nation on the planet.
Going Green with Prop Tech
One of the significant advantages and trends of Prop Tech is going green, with workers no longer having to commute to officers in the city centers, which means there is a drop in pollution, that being air pollution and sound pollution, which is terrible for the environment.
Furthermore, according to the World Business Council For Sustainability and Development Report, the environment contributes 39% of global emissions. And for Net O to be reached in 2050, industries would have to reduce their emissions by 50%.
This is a significant reason for the rise of Prop Tech because it presents modern solutions to industrial problems. Prop Tech is related to houses and the entire property market.
Why have large factories when the work can be done more effectively and environmentally with 3D printers and new technologies being invented to improve farming, office work, and a new wave of industrialization that humanity will experience in the next 20 years due to fewer people on the planet.
With fewer workers, which will require solutions that will be answered with new technology, the future is very much Prop Tech and other advancing technologies.