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 Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..