Nitin Vig, CEO for Mobile Doorman, says 2020 will be even bigger than 2019 for the PropTech world.
SAN FRANCISCO—2019 was a record-setting year for PropTech. From the highest highs (a record $16 billion in VC investments) to the lowest lows (WeWork implosion), 2019 may well go down as one of the most eventful years to date for PropTech.
And, going into 2020, there is cautious excitement around PropTech, coupled with the possibility of explosive growth ahead. Will 2020 be the year that delivers this explosive growth?
According to Nitin Vig, CEO for Mobile Doorman, 2020 will be even bigger than 2019. Here are some of his predictions for the 10 big ideas that will shape PropTech in 2020:
1. Early adopters of PropTech will start to break away from the competition
One only has to look at adjacent industries (hospitality/travel, retail, etc.) to see how players who embraced tech fared compared to their peers who did not. Take retail for example. While some players vanished (Circuit City) and others became a shadow of their former selves (Sears), there are some that have emerged bigger and stronger (Best Buy). Why? They embraced tech wholeheartedly to not just break away from their competition but also avoid being disrupted by tech giants, i.e., Amazon.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
