CRE Innovation Report 2019
The Innovation Opportunity in Commercial Real Estate: A Shift in PropTech Adoption and Investment
Commercial Real Estate (CRE), like other industries, is adapting to today’s “data everywhere” world and making investments to create value through data and analytics. In particular, over the past two years the CRE industry has experienced a significant acceleration from awareness to adoption of both emerging technology as well as the utilization of data analytics.
A growing number of CRE firms are now starting to actively apply PropTech to drive efficiency across a broad range of business functions. While this changing sentiment and increasing investment is promising, CRE firms continue to be selective when it comes to adoption with many not recognizing the potential opportunity and benefits of some rapidly emerging technologies that have already gained traction in other industries. This could be a symptom of the fact that many CRE functions, systems and related data are still heavily siloed.
The latest Altus Group CRE Innovation Report explores the turning points that have emerged in how CRE companies view technology and approach technology investment, adoption and use, while also highlighting the gaps and opportunities related to changing technology and market trends.
- Has the basic technology infrastructure used by the CRE industry evolved?
- Which emerging technology areas do CRE executives believe will have the most impact on the industry and where are they making investments?
- What’s coming next and is the industry prepared?
- Where and how are new technologies affecting CRE processes?