IT Market in Real Estate Projected to Reach 7.89% CAGR Till 2023 | Global Key Players - The Sage Group, Yardi Systems, Buildium, MRI Software, Realpage, AppFolio, IBM Corporation

The IT market in Real Estate is expected to register a CAGR of 7.89%, over the forecast period 2018 - 2023. The scope of the market covers the end-to-end solutions as well as standalone solutions offered by various vendors in the market.

IT is becoming a driving force necessitating a change in the way real estate companies market products to their clients. The shift from physical records to digital-based records and documents has been the initial stepping stone for the adoption of technology in the real estate sector.

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The fundamental value proposition of information technology in real estate is leveraging streamlined and consumer-centric solutions, thereby, decreasing burden on property owners, tenants, and facilitators, thus, making businesses more efficient. IT is not only enabling end users streamline their documentation, operations, and processes to comply with government standards and regulations but also playing a vital role in helping users assess their present business decisions and forecast their future prospects.

Key Developments In The Market

July 2018 - The company has more than doubled the number of digital innovation solutions and significantly expanded design-led engagement services with the launch of the SAP Leonardo Partner Medallion Initiative. SAP Leonardo technologies empower enterprises with intelligent technologies for every business process, to create better outcomes. This is expected to posivitly effect the innovations in the IT market in real estate.

August 2017 – The SAP Cloud for Real Estate was awarded the prestigious Red Dot Design Award, chosen from more than 8,000 entries, across the globe.

Major Players:

SAP SE, The Sage Group PLC, Yardi Systems Inc., Buildium LLC, MRI Software PLC, Realpage Inc., AppFolio Inc., IBM Corporation and Oracle Corporation amongst others.

Reasons to Purchase this Report
• Current and future IT market in Real Estate outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segments that are expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet (in excel).

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Commercial to Witness The Fastest Growth

According to the Profile of Real Estate Firms 2016 by National Association of Realtors, commercial real estate managers are lagging behind their residential peers in technology adoption. Traditionally, the residential sector has been known to be the quickest adopter of IT. However, recently, large commercial players in real estate are also increasingly using this technology. This trend is supported by the reports by Dallas Business Journal on CBRE, the world’s largest commercial real estate services and investment firm. It reported that CBRE has been doubling its annual spend on technology.

ERP Solutions To Hold A Major Market Share

Real estate companies are facing challenges in planning and execution of projects, costing, regulatory compliances, cash flow visibilities, and collaboration with service providers. The use of ERP, in these situations, boosts profitability and reinforces competence across the enterprise. Such trends have been driven increased adoption of ERP solution for real estate across the globe. For instance, the European region has observed a tremendous rise in the use of ERP solutions in its real estate industries. According to the Federal Statistical Office of Germany, 94% companies in the real estate industry of Germany were using ERP, in 2017. Moreover, ERP penetration in the French real estate increased from 36% in 2014 to 40% in 2017, as reported by the National Institute of Statistics and Economic Studies.

Furthermore, real estate is among the top industries in populated countries, like China and India, due to high population and increased number of startups. The real estate and construction sector in India is expected to be the third-largest globally by 2030, contributing over 15% to Indian GDP, according to a report released by NAREDCO (National Real Estate Development Council).

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