3 Tech_Enabled Construction, Management, And Maintenance

Property management and maintenance are changing, as consumers turn to online service providers over traditional contractors and property managers. Tech_enabled solutions to home decoration and interior design (e.g. Houzz) are also arising, as are new ownership models for furniture (e.g. Feather)

Home construction and maintenance will also undergo extensive disruption. Americans spend $340 billion a year on home improvement and remodeling, with the HVAC market projected to reach $251 billion by 2023. Annual construction in the US is valued at $1.3 trillion.

Meanwhile, traditional incumbents still have a majority share of this very massive market. Home Depot and Lowe’s annual sales are approximately $170 billion. Most construction is still done via traditional contractors and construction companies, although the rise of 3D printing and off_site construction by companies like Katerra is beginning to change this.

New catalysts will eventually upend the construction market completely, creating another new wave of cutting_ edge real estate tech startups. AI, image recognition, and robotics will enable a huge reduction in the capital and time costs of construction in the medium_to_long term, and the ripple effects of this will be felt throughout the entire real estate industry.



What Kemedar Offers For This Sector?