We are happy to share another edition of PropTech Facts: we provide you short and sweet insights in the (Prop)Tech market. the trends we are seeing, and interesting data we come across.
We at The Proptech Connection have been doing deep research into haptic devices. These are far more than just frivolous-gimmickry; we are now on a path from prototype to ubiquity. Use-case and applicability are what a good idea needs to become “the next big thing”.
Haptics, wearable, visual, and touchable devices that provide sensory perception for human tasks, have been around the fitness world for some years, but the latest generation of devices has use cases far beyond the fit-bit vibrations.
Many of which are very relevant within Real Estate and Construction...
The use-case for Retail as an example; online shopping, where tactile perception becomes available, means that shoppers can try on and feel both fit and fabric while at home.
Construction and logistics application allows wearable robotics with haptic sensors to make the ordinary human “superhuman”, with the ability to carry heavy loads with significantly reduced safety risk(s).
Medical application, where remote doctors can diagnose by touch and where remote surgeons can carry out medical procedures with precision, is life altering for many.
The office environment has applications for immersive remote meetings and collaboration via wearable haptic visuals, and these same devices can be applied to in-office nature retreats, meditative time outs, or dispersed team-bonding activities.
Health and fitness apply haptics for immersive guided activities and for performance enhancement.
From a safety perspective within health, wearers of devices who experience compromised vital statistics can be alerted towards safety remedies, or can trigger medical assistance.
As with all new technologies, the first wave tends to be niche, but with annual global revenues now hitting $3Bn for haptic devices and with an accelerating growth curve, the signs pointing towards ubiquity are like beacons.
We have good visibility of the leading technology solutions and how to leverage this across your real estate or construction operation. We are constantly looking at how the shifting macro trends are impacting how we build + use space.
Real Estate is a massive industry, yet it remains under-digitized. In fact, it is the second-worst digitized industry, just ahead of hunting and fishing.
Around 15% of building materials are wasted during construction. Moreover, Real Estate generates a whopping 40% of all global GHG emissions across the building lifecycle, from design to eventual deconstruction.
It has always been slow for the real estate industry to innovate. With the number of data sources and data growing exponentially, it adds to the barriers and challenges to digitizing aspects of manual industry. AI, much talked about in other industries, does not look like the natural bedfellow for real estate and construction practices. However, all industries rely heavily on data and analytics, and we see a use case for AI complementing existing data science in construction, smart real estate management, designing, property investment and other use cases...
Saudi Arabia presently finds itself amid a substantial expansion within its infrastructure sector, underpinned by investments in domains such as transportation, renewable energy, housing, etc.
As of 2021, this sector's estimated worth was $120.4 billion, and it is poised for significant advancement, with an anticipated annual growth rate of no less than 4% spanning the years 2023 to 2026. More than 5,200 infrastructure projects are ongoing, with a total value of more than $819 billion.
There are over 18,000 property technologies currently servicing Real Estate. You cannot be expected to know them all, so unburden yourself by aligning with someone who does. The Proptech Connection, global advisory for search, discovery and accurate selection.