The map highlights the skyrocketing growth of the sector
The Proptech Association Australia recently came out with a new map of the national proptech ecosystem that has grown massively in the last few years. As per reports, the Australian proptech sector had 188 start-ups in 2019 and has grown 2.5 times since then.
A collaboration between Proptech Association Australia, ProptechBNE and REACH Australia, the map took over a year to create. “The sector has grown from 188 proptechs back in 2019 to 478 solutions that we were able to identify today and this shows the health of the industry and the important work that proptechs are doing to solve the myriad pain points that exist across all aspects of property and housing,” said Kylie Davis, president and founder of Proptech Association Australia who believes that a map was necessary considering the exponential growth of the sector. “We were constantly being asked, ‘What proptechs are out there?’ and ‘What are our options to help solve xyz?'” she added. “What is evident now is the extraordinary range of problems that are now being solved by proptechs; which solutions are now mainstream and where the next wave of innovation is occurring.”
With the rise of AI and a wider range of sustainability solutions, Davis predicted the proptech sector will undergo another growth spurt in the next two years. “Housing affordability, supply and better management of homes to make them more energy efficient and produce less carbon are vital issues that are consuming Australians and are the focus of government-led initiatives. Our members are working hard to solve these issues and we expect exciting new solutions to emerge over the next two years,” she said.
The property and facilities management emerged as the largest category on the map with 77 proptechs. Sales and marketing (73), address efficiency and optimisation issues (72) and consumer proptech (65) came a close second. Emerging categories showed 58 proptechs in the environment, social and sustainability sector, 47 solving ownership, affordability and finance problems, 46 across design, build and development proptech and 37 in data, AI, analytics and insights.
