EY: PropTech’s market size set to cross $600 Bn by 2047

27 Nov 2024 CW Team

The proptech segment within the real estate market is projected to grow exponentially, with its market size expected to reach $600 billion by 2047, up from the current $10.5 billion, driven by a technological revolution, according to a joint report by Credai and EY. The broader real estate sector is also anticipated to surge, crossing a market size of $4.8 trillion by 2047, compared to its current value of $300 billion, contributing more than 18% to India’s projected $26 trillion GDP target by the same year. The report highlights that the current penetration of ICT and proptech-based solutions in the real estate sector stands at $10.5 billion, less than 5% of the total market size. However, by 2047, proptech is expected to grow to $600 billion, making up around 12-13% of the overall real estate market. Proptech is evolving from a supportive role to a key growth driver in the real estate sector, with innovations such as Artificial Intelligence (AI), the Internet of Things (IoT), and Building Information Modelling (BIM) revolutionizing operations. These technologies are streamlining automation, improving operational efficiency, reducing costs, and enhancing margins across the real estate value chain.

Infrastructure Energy

25 Jun 2026

Centre Prioritising Energy Security With Coal Gasification

Union minister for Coal and Mines G Kishan Reddy said the Centre is prioritising energy security through a strategic shift to coal gasification and has announced incentives totalling Rs 460 billion (bn) to support the effort. He said more than 35 companies will start coal gasification activities in India within two months and that the government is encouraging firms that bring technology to close the domestic technology gap. The minister described the initiative as aimed at reducing import dependence and developing indigenous capacity. India has the fifth-largest coal reserve in the world, and..

BHEL and Coal India Invest Rs 250 bn in Odisha Gasification

Bharat Heavy Electricals (BHEL) and Coal India (CIL) are jointly investing Rs 250 billion in a coal gasification project in Odisha, with the Prime Minister laying the foundation stone in Jharsuguda. Union Coal and Mines Minister G Kishan Reddy described the initiative as a transformative shift in coal utilisation that will open industrial avenues for the state. The project moves coal beyond conventional power generation to industrial feedstocks. Coal gasification will convert coal into synthesis gas, a versatile feedstock for chemicals, fertilisers and synthetic fuels, and the technology is ex..

BCCL Hands Over Dugdha Coal Washery To JSW Steel

Bharat Coking Coal has handed over the Dugdha Coal Washery to JSW Steel, marking the first coal washery asset monetisation under the Ministry of Coal's asset monetisation programme. The handover took place in the presence of senior officials from Bharat Coking Coal Ltd, JSW Steel and JSW Energy. The washery has a capacity of two million tonnes per annum (mn t per annum), and its transfer is intended to introduce private sector practices into coal beneficiation operations. The monetisation is aimed at modernising coal sector assets, improving operational efficiency and enhancing resource utilis..