A lot of attention in proptech has been on companies that monitor and control HVAC systems. The reason is that owners spend a lot of money on cooling, heating, and ventilation, which is ripe for new ways to lower costs while reducing carbon footprints, for an ESG advantage.

But all this depends on the actual HVAC systems in buildings, that specialty software and hardware look to control. As the site PE Hub noted, a growing number of private equity companies have developed a taste for the industry. "The fast-growing HVAC business is increasingly regarded as a non-discretionary expenditure, the sector is highly fragmented, and its business model generates recurring revenues," PE firms told the publication.

Those who install, repair, and modify HVAC systems are likely to be seen as good sources to suggest which of the more advanced systems are worth looking at. Ultimately, they could become major influences on the directions building owners take, affecting an important part of the proptech industry.