PUBLISHER: Orion Market Research | PRODUCT CODE: 1755427
PUBLISHER: Orion Market Research | PRODUCT CODE: 1755427
Global Artificial Intelligence (AI) In Real Estate Market Size, Share & Trends Analysis Report by Technology (Machine Learning, Natural Language Processing (NLP), and Computer Vision), by Applications (Chatbots and Virtual Assistants, Customer Behavior Analytics, Advanced Property Analysis, Customer Relationship Management (CRM), and Others), and by Enterprise Size (Large Enterprises, and Small and Mid-Sized Enterprises (SMEs), Forecast Period (2025-2035)
Artificial intelligence (AI) in the real estate market is projected to grow at a CAGR of 12.8% during the forecast period (2025-2035). The market growth is attributed to increased artificial intelligence capabilities. AI technology breakthroughs allow it to approximate human cognitive functions and complete tasks in real-world scenarios. It leads to more advanced AI programs capable of handling complex tasks and providing valuable insights into the real estate market. AI in real estate is the application of artificial intelligence technology and methodologies to improve many elements of the real estate sector. It entails the use of computer systems and algorithms to analyze massive volumes of data, learn from patterns and trends, and make intelligent predictions or suggestions about real estate transactions, property management, customer service, and market analysis. Furthermore, with the increasing use of AI technology, a wide range of tools have been developed, ranging from natural language processing (NLP) to generative AI. These tools are becoming more sophisticated and easier to access.
The global artificial intelligence (AI) in the real estate market is segmented by technology, applications, and enterprise size. Based on technology, the market is sub-segmented into machine learning, natural language processing (NLP), and computer vision. Based on the application, the market is sub-segmented into chatbots and virtual assistants, customer behavior analytics, advanced property analysis, customer relationship management (CRM), and others. Furthermore, based on enterprise size, the market is sub-segmented into large enterprises and small and mid-sized enterprises. The computer vision subcategory is expected to capture a significant portion of the market share within the technology segment. This is attributed to the growing acceptance of IoT devices and sophisticated technologies such as Big Data and machine learning, in addition to the expanding adoption of smart devices and internet services globally, which are driving market growth.
Chatbots and virtual assistants are predicted to rise significantly in the real estate market. This expansion is being driven by a growing desire for individualized consumer involvement and effective communication. For instance, REA Group, a renowned digital property business, has been enhancing customer experiences by unveiling innovative, customized products based on artificial intelligence. AI-driven solutions enable real-time engagement with prospective buyers and sellers, providing quick responses to questions and relevant property suggestions, and facilitating fast property searching and transactions. The integration of such technologies not only increases customer enjoyment but also gets real estate firms ready to compete in a more digital globe.
The global AI real estate in the real estate market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the rapid adoption of advanced technologies, in addition to the existence of significant players, which are projected to provide significant growth prospects for the market.
The North American Region is Expected to Grow at a Significant During the Forecast Period
North America dominated the market for artificial intelligence in the real estate sector, capturing more. This leadership can be owing to several critical elements, including superior technology infrastructure, significant investment in AI and analytics, and a strong housing market that is increasingly adopting digital solutions. The region's dedication to innovation is backed up by major investments from both the private and public sectors aimed at implementing AI technology into many parts of real estate, ranging from property management and transaction services to market analysis and investment. The existence of major technology hubs such as Silicon Valley, as well as premier colleges and research institutions, contributes to North America's dominant position. These hubs not only encourage creativity but also make it easier to develop advanced AI solutions specifically for real estate applications.
The major companies serving artificial intelligence in the real estate market include Redfin Corp., CoreLogic, Inc., HouseCanary, Inc., BoomTown, Enchant LLC, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market.
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