Digital transformation in the Swedish real estate sector: A study of digital maturity level and barriers to digital transformation

Examensarbete för masterexamen

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Bibliographical item details
Type: Examensarbete för masterexamen
Title: Digital transformation in the Swedish real estate sector: A study of digital maturity level and barriers to digital transformation
Authors: Scherman, John
Eriksson, Andreas
Abstract: 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.
Keywords: Digital transformation;Digitalisation;Digitization;Digital maturity;Barriers to Digital Transformation;Real Estate;Swedish Real Estate Sector
Issue Date: 2022
Publisher: Chalmers tekniska högskola / Institutionen för teknikens ekonomi och organisation
Series/Report no.: E2022:109
Collection:Examensarbeten för masterexamen // Master Theses

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