Last year we published a similar post reflecting on our PropTech predictions for 2018, it seems appropriate therefore to take a look at how our some of our predictions played out and what our PropTech Predictions 2019 are.
Machine to Machine (M2M)
Last year we estimated an increase in the amount of homeowners opting to convert to and integrate SMART Technology into their home. With the latest stats showing that now nearly half of Brits own a SMART home device, up nearly 30% since the previous year, it seems there has been high demand for M2M technology in 2018. A recent study conducted by Smart Home Week found that 28% of buyers would happily pay a higher price for a property if it was equipped with the latest SMART home technology. Machine to Machine and SMART technology continues to facilitate the ability to stay connected and in control of our own efficiency. In a world which is becoming more and more aware of the effect on the environment, we predict that being able to manage energy consumption with SMART home devices will continue to be a focus for many homeowners in 2019.
While blockchain technology made the headlines a few times in 2018, it has only been seen in proof of concept and pilot programs, it still remains to be proven in production environments. Over the next few years we are expecting blockchain to evolve to include greater scalability and security.
2018 has seen Big data evolve and mature into an invaluable insight tool for many companies, with around 40% of companies worldwide now using Big Data. Organisations who have embraced Big Data wholeheartedly, are able to really get to know their customers and therefore be more astute to their wants and needs. Big data has changed the way properties are bought and sold, providing a more efficient and personalised experience for both professionals and homeowners. Into 2019 and beyond Big Data is likely to continue to fuel changes within the real estate industry, with industry experts predicting that the next step for many companies in 2019 is to use Artificial Intelligence to process Big Data, to gather business intelligence and improve efficiency.
Augmented & Virtual Reality
Experts predict that Virtual Reality (VR) will develop significantly throughout all sectors over the next 10 years, with the property industry set to see the most benefit. Over the last few years and into 2018 we have seen an increase in the amount of PropTech companies offering augmented & virtual reality services with Interior Design Apps really taking off, enabling homeowners and professionals alike see realistic demo’s of proposed plans. Many PropTech companies have recognised VR’s revolutionary potential and are starting to explore the options of integrating it into existing property platforms. In 2019 we are expecting to see more and more VR platforms become available, not only for design but also to assist in the property sales process and all with a greater focus on user experience.
Byoot provides a full turnkey solution to our clients, from planning, architects, structural engineers, building control and the build, leaving our clients to focus on their day jobs while we do ours. If you are thinking of extending, renovating or improving your home speak to one of the team on 0208 4509185 or send us an email at email@example.com