The rapid growth of the real estate and construction vertical in India is compelling companies in the sector to turn to IT-enabled services for greater process efficiency. Low IT penetration among Indian small and medium enterprises (SMEs) offers significant opportunities to IT solution vendors.
New analysis from Frost & Sullivan's (ITservices.frost.com), Enterprise IT Adoption in Indian Real Estate and Construction Vertical, finds that the market earned revenues of more than INR 219.3 crore in 2011 and estimates this to reach INR 1,152.1 crore in 2018.
"The entry of new-generation stakeholders with better understanding of the latest technology ensures the consistent adoption of IT solutions in enterprises," said the Frost & Sullivan Information and Communication Technologies Analyst. "With the increasing influx of foreign direct investments, firms are also looking to improve transparency by using enterprise resource planning systems."
Intense competition and shrinking bottom lines are forcing real estate organizations to generate real-time management reports and observe their businesses closely. Efficient project management is crucial for companies handling multiple city projects and hence, project estimation solutions that help manage high material wastage and increasing land prices are growing popular. However, while the Indian real estate and construction sector is fast-growing, it is also highly fragmented, unorganized and capital-intensive. The rising costs of raw materials have reduced the affordability of IT solutions.
To counter these challenges, vendors must offer better project management solutions that guarantee higher operational efficiency for companies. Innovative pricing models are vital to cater to a large audience, especially as solution providers look to tap the SME and unorganized segments.
"Providers are developing mobility solutions that will enable enterprises to gather real-time data from multiple project sites and offices," noted the analyst. "Standalone modules such as plug-and-play solutions will gain wide acceptance among the SME and unorganized segments." Including training and managed services to their portfolio will allow market participants become a one-stop shop for all IT requirements, thereby leading to market expansion.
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an email to Priya George / Akshata Mhatre, Corporate Communications, at priyag[.]frost.com / akshatam[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.
Enterprise IT Adoption in Indian Real Estate and Construction Vertical is part of the IT Services Growth Partnership Service program. Frost & Sullivan's related research services include: Enterprise IT adoption in Indian Retail sector and Software as a service (SaaS) adoption in Indian SMBs. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Enterprise IT Adoption in Indian Real Estate and Construction Vertical / P645-72
Nimisha Iyer, Corporate Communications South Asia, Middle East & North Africa
M: +91 98200 50519, P: +91 22 6607 2004 - E: niyer[.]frost.com.