Digital transformation in the Swedish real estate sector: A study of digital maturity level and barriers to digital transformation
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Typ
Examensarbete för masterexamen
Program
Publicerad
2022
Författare
Scherman, John
Eriksson, Andreas
Modellbyggare
Tidskriftstitel
ISSN
Volymtitel
Utgivare
Sammanfattning
The forces of digital development have by a varying degree transformed different industries
and sectors for decades. The sector of real estate is often considered a laggard with regards to
the adoption and utilization of digital technologies, which by extension limits its journey of
digital transformation. Changes in the macro level with regards to customer demands together
with technological advancements that enhance both availability and affordability are
increasing the pressure on actors within the real estate sector. Yet, the current economic
situation in Sweden does still allow for high returns from performing business as usual which
reduces the sense of urgency for Swedish real estate companies. Historical examples of e.g.
the retail and media industries indicate that relying merely on reaction may be insufficient.
Instead, companies must act proactively and innovate and reimagine themselves to remain
competitive.
This master thesis focuses on the current state of digital transformation through the execution
of a digital maturity assessment followed by an analysis of the current endeavors to discover
barriers to digital transformation. The thesis begins with a pre-study in order to gain
knowledge and understanding of the subject. To identify the scope of this study, a series of 5
semi-structured interviews were held, and in parallel, an extensive review of existing
literature, to get first hand information regarding what the incumbents have been doing, are
currently doing and are planning to do in the future. From the prestudy, a clear scope was
formulated and a set of frameworks adopted and adapted to fit the purpose of this study.
Anchored in the findings of the prestudy, an digital maturity assessment was made to appraise
the companies current undertakings. Subsequently, an analysis of the current efforts are made
to identify barriers to digital transformation, i.e. factors that are hindering future development
and transformation. Lastly, the thesis ends with conclusions regarding the findings followed
by recommendations and discussion regarding future research.
The findings regarding the digital maturity assessment is providing insights on how the
Swedish real estate sector is currently organized to deal with digital transformation. The
absolute number of the assessment shall be given lesser attention and instead the real
contribution lies in the average of each research question as it has the possibility to highlight
weak areas. The findings on the second research question enlightens several barriers to digital
transformation, yet the thorough literature study assists in displaying that there are no
independent variables in digital transformation and each and every barrier to some extent
relates to another. The clouded relationships hinders the possibility to give anchored
recommendations of where or in which end to start to resolve the barriers. Some indications
point towards it being favorable to start to review the digital strategy and the digital
leadership first.
Beskrivning
Ämne/nyckelord
Digital transformation , Digitalisation , Digitization , Digital maturity , Barriers to Digital Transformation , Real Estate , Swedish Real Estate Sector