The Russian PropTech market grew by 27.8% in 2023, analysts estimate. The total revenue of the 70 largest companies amounted to almost 11 billion rubles. The greatest revenue growth was shown by smart home services, facilities management and rental services.
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The total revenue of the 70 largest companies in the PropTech market in Russia at the end of 2023 amounted to 10.9 billion rubles. This is 27.8% more than in 2022, according to Smart Ranking analysts.
The market leader was the developer of a cloud platform for smart buildings and a line of IoT devices for smart homes, Ujin, with a turnover of 959.3 million rubles (+66.7%). In second place is the developer of engineering software Askon, with revenue of 750 million rubles. In third place is the design company We-On with a turnover of 705 million rubles (+11.4%).
RB.RU presents Russian PropTech map for developers and management companies
The fastest growing market segment was “Operation” – these are companies that offer smart home, rental, repair and facility management services. The growth leader in the segment was named by analysts as the platform developer Pragmacore, which increased its revenue by 437%.
Analysts noted that the industry’s key problems are lack of government support, insufficient development of digital infrastructure and lack of comprehensive solutions. Experts pointed to the transition to open source and SaaS solutions as one of the main trends in this field.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
