Press Release on Real Estate Software Market: ERP to Drive the Global Real Estate Software Industry

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The global real estate software market size was USD xx million in the year 2017.Real estate businesses across the globe have become complex, which is creating an opportunity for real estate software to manage the complex business process in a simplified and efficient way.

Real estate software is further classified as ERP, CRM, PMS, and others. These software offers various modules and customization options, thus benefiting the end users such as small, medium and large-scale enterprises. The global real estate software market is expected to be valued over USD xx million by 2025 and is anticipated to grow at CAGR of 4.7 % in the forecast period.

ERP offers project management, procurement management, finance management, lease management, land & development management, sales management, and others. Owing to its large number of applications it is anticipated to grow at CAGR of 4.8% during the forecast period. CRM assist in efficient customer handling have surged in demand as they offer a more customer-centric approach to the real estate business, hence are anticipated to grow at CAGR of 5.0% the highest during the forecast period.

Rural population of the major countries across the globe are migrating to urban cities leading to large-scale urbanization and densification of real estate. Similarly, commercial real estate demands have also become complicated and use of facility & space management software are likely to be beneficial. Thus, major real estate players in the market look to real estate software adoption which is expected to facilitate the smooth management of the real estate business, driving the growth of the global real estate software market.

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Lot of gaps and inefficiency has been seen in the real estate business due to the large involvement of paperwork and manual labor. Thus, software developers are now developing IT solutions, which manage both front and back office work efficiently. Thus, major players are adopting to software. Similarly, the Government of India has also taken initiatives to implement real estate software to improve efficiency. For instance, in 2016 Government of India relaunched the Digital India Land Records Modernization Programme; which aims to achieve complete computerization of the property registration process and digitization of all land records. Owing to the value the software offers to the real estate business as well as government institutions, the growing demand is driving the growth of the global real estate software market.

Real estate software that are either SaaS or cloud-based are vulnerable to hacking and data theft. SaaS environment and cloud storage are used for storing data such as property information, land acquisition, if not encrypted and secured can be stolen thus hampering the growth of the real estate software market. Use of block chain in real estate software is an expected solution to deal with theft of data and security. For instance, Ubitquity, LLC, founded in 2015, provides a beta version of the block chain-secured platform for recordkeeping.

Players associated with the global real estate software market are RealPage Inc., Costar Realty Information Inc. Microsoft Corporation, Oracle Corp, and IBM Tririga SAP America, Inc. These payers are mainly headquartered in United States and also have region specific presence. Players in this market focus on developing new software. For instance, in July 2016, ValuD Consulting, LLC, a players in Real Estate and Facilities Management (RE/FM) collaborated with IBM Tririga to launch MobilD – a mobile application for IBM TRIRIGA. The application aims real time tracking of the field work with IBM Tririga platform. Similarly, players also focus on acquisition as a strategy to gain competitive edge in the market. For instance, in February 2018, Oracle Corp acquired Aconex Limited a company in construction management platform. The collaboration aims to strengthen Oracle Corp cloud-based construction software.

The report has company profiles of few of the players in the market
• MRI Software
• RealPage Inc.
• CoStar Realty Information Inc.
• Microsoft Corporation
• Oracle Corp
• SAP America, Inc.
• IBM Tririga

Product Overview,2013-2025 (USD Million)
o ERP
o CRM
o PMS
o Others

Application Overview, 2013-2025 (USD Million)
o Small enterprises
o Medium enterprises
o Large enterprises

Region Overview,2013-2025 (USD Million)
o North America
 U.S.
• Europe
o U.K
o Germany
o Spain
o Russian
o Italy
• Asia Pacific
o China
o Japan
o India
o East Asia
o Rest of the world

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