The Global Property Management Software Market Size, estimated at USD 20.14 billion in 2022, is expected to increase by USD 42.89 billion by 2030, rising from USD 22.05 billion in 2023, with a CAGR of 10%.
The market is growing as a result of the rising need for better customer handling and support as well as the rising demand for property management software to address consumers’ real estate preferences. One such example is Rent Relief by Yardi, which was unveiled by Yardi Systems, Inc. in February 2021. This launch will help households and landlords manage payments quickly and easily. Similar to this, Planon and AddOnn partnered in March 2021 to combine AddOnn’s SaaS solution with Planon’s software platform for building and service digitization in order to provide a complete solution to clients around the world.
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Information about the report:
- Forecast Timeframe: 2023–2030
- The starting year is 2022
- Market Size in 2022: USD 20.14 billion
- The market size in 2030 will be USD 42.89 billion
- CAGR: 10%
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Property Management Software Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The market size is the total amount of money that service providers make when they sell their products to customers. Market share is the percentage of the market that is under the control of one or more providers. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Property Management Software Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report’s list of the segments with the highest revenue growth rates.
By Application Type Analysis,
The residential and commercial segments of the market are separated based on application. The residential sector is anticipated to hold the largest market share. The demand for property management software to manage residential properties like homes, single and multi-story apartments, and bungalows is propelling the growth of this market. The demand for residential structures is anticipated to rise with an ever-growing population. As a result, there will be a greater need for asset management systems to accommodate the increase in residential property construction.
By Deployment Analysis,
The property management software market is divided into two segments based on deployment: cloud and on-premises. During the forecast period, it is anticipated that the cloud segment will hold the largest market share and experience the highest CAGR. Property managers and landlords can easily and affordably store all documents, including legal contracts, lease agreements, and contractor SLAs, on a single platform thanks to cloud-based solutions. Enhancing security is a benefit of cloud-based software. Traditional property applications rarely receive security upgrades, leaving data vulnerable to theft, power outages, and natural disasters.
By End-User Analysis,
Property managers, housing associations, real estate agents, and others (third-party agents, property investors) make up the majority of the end-users in the market for property management software.
During the forecast period, it is anticipated that the property manager segment will grow quickly. Property managers have a lot of daily responsibilities that require them to balance other things. Executing corporate tasks manually takes time and can be intimidating. Examples include monitoring, paying rent, and receiving maintenance requests. As a result, there is a rising need for automated software that enables property managers to handle numerous business operations at once.
The range of risks is anticipated to widen as the real estate industry becomes more international. Country or city risk, including political risk and the risk that benefits would be seized, will be the main risks. Additionally, growing real estate investments in developing countries could come with a number of dynamic risks. Additionally, due to a lack of funding, real estate brokers decide to work with regional developers, posing several operational risks like delayed construction sites or even fraudulent activities. This might prevent the market share growth of property management software.
List of Key Companies Profiled:
Entrata, Inc. is a global company that offers real estate companies software and data analytics solutions. Owners and property managers are said to benefit from the company’s solutions for managing properties, such as residential, commercial, and hotels. The company has emerged as a key provider of candidate screening, revenue management, and utility management services owing to its effective SaaS solutions. These firms are concentrating their efforts on the commercial sector of the industry to provide modern and effective solutions to property managers and agents.
LIST OF KEY COMPANIES PROFILED:
“AppFolio, Inc. (U.S.), Archibus, Inc. (U.S.), Yardi Systems, Inc. (U.S.), CoreLogic (U.S.), Entrata, Inc. (U.S.), ManageCasa (U.S.), MRI Software LLC (U.S.), IBM Corporation (U.S.), SAP SE (Germany), MAISONETTE (U.A.E.)”
The market is fragmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific.
The largest market share in 2021 belonged to North America. Property managers and developers of real estate in this region should have several opportunities to invest in asset management software and services as e-commerce grows in this area. The real estate market in the area is expected to see a significant increase in foreign investment over the next few years.
The study report provides a thorough analysis of the “Property Management Software Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The Property Management Software Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Property Management Software Market industry will be able to gain the upper hand by using the study as a valuable resource.
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