PUNE, India, Feb. 17, 2020 /PRNewswire/ — Rising consumer demand for wellness lifestyle real estate and communities in the recent past has aided the global wellness real estate software market in the recent past and is expected to continue the same trend over the forecast period. People are getting gradually aware about the impact of lifestyle and social factors on their well-being. Wellness real estate services are developing to enable healthier lives for individuals and communities. It comprises of various components, of which the primary types are wellness lifestyle estate and wellness communities. This industry is an evolving industry which identifies the potential to meet immense health challenges. Many activities like green and sustainable building movement, urbanism and intentional communities among others are being modified and executed in different ways into a novel and forthcoming wellness-focused real estate projects. Global wellness real-estate mainly includes investments, buildings, transactions, single family and multi-family housing. It also includes houses that are constructed beside destination spas, wellness retreats and hospitality projects.
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The need for wellness industry has been increasing day by day. The rising need for wellness establishment leads to the increasing demand for the wellness real-estate software market. Decades back, wellness buildings were normal buildings to stay, isolated and included care takers. After the outbreak of technology, the demand for wellness-based technologies steeply rose, which paved way for wellness real estate software market. A major factor that drives the market is the changing attitude of people towards wellness institutions. On earlier days, people considered wellness real estate building for treating people who were affected by mental illness. Nowadays, modern working environment resulted in creating huge work pressure among the employees which forced them to adopt the wellness mechanism. It boosts the demand for the wellness real-estate software in the market. The Global Wellness Institute (GWI) claims that residential real estate will be a major trend that is drastically evolving throughout the wellness industry. Rising market share for tech companies in the real estate sector is creating a major revolution in the market. Even though technology has not completely consumed the wellness real estate sector, rising advancements in the technologies is driving the wellness real estate software market. The market has also witnessed huge investments in real estate software. Its majorly due to the limited number of companies in the market which further attracts new investors due to the untapped potential within the market. Investment has followed in suit with over $2.2 billion in 97 modern wellness startups globally.
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In terms of revenue, global wellness real estate software market was valued at US$ 458.6 million in 2018 and is expected to reach US$ 835.5 million by 2027, growing at an estimated CAGR of 7% over the forecast period (2019 – 2027). The detailed research study provides qualitative and quantitative analysis of wellness real estate software market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes majorly on the different geographical regions world wide
Key suggestions from the report:
- In terms of geographical locations, North America accounted for more than 35% in 2018 and is anticipated to continue the same trend over the forecast period. In January, 2019, KB Home announced the offering of technological products to home buyers to make their households healthier. The Los-Angeles based home builder planned to sell an add-on, called Darwin to the buyers prevailing in California. Darwin is a technology designed by Delos which is a New York-based technology startup. This announcements followed a string of smart home integrations by major homebuilders.
- Darwin is basically addressed as the wellness brain for the home. The platform is built through a combination of hardware and software to monitor and control water filtration, air quality and circadian lighting. The sensors of the same helps in measuring allergens and other harmful substances present in the air. The future plans of Delos is to integrate bathroom scales, kitchen appliances and other smart wearable devices.
- Commercial segment is anticipated to witness a substantial growth over the forecast period owing to the construction of wellness adventure and sports centers and fitness centers in commercial building sector comprising rock climbing walls, swimming pools and gymnasiums.
- Some of the players operating in the wellness real estate software market are Delos Living LLC, GoFit Systems, Headspace, Inc., Signify Holding, Solatube International, Inc., China Vanke Co.,Ltd and Tokyu Land amongst others.
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Global Wellness Real Estate Software Market:
- By Offerings
- Integrated Systems
- Standalone Software
- By End Users
- By Application
- Physical Wellness
- Mental Wellness
- By Region
- North America
- The UK
- Nordic Countries
- Benelux Union
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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SOURCE Absolute Markets Insights