Property Management Market 2020: Business Strategies, Size, Key Country Analysis, Share, Growth and Regional Forecast till 2025
Property management has become a vital part of hospitality and rental services. Property agents or advisors have been using traditional methods for communications and data storage, which includes paperwork and difficult management. Through property management software systems, data storage, management, and other related operations have become easy, fast, and cost-effective. On observing the current market trends, the global property management market is expected to touch a 07 % annual growth mark during the survey period. This management system has helped them in tracking the financial flows and simplified the rent collection procedures.
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As the market is expanding due to the rise in urbanization, the effective management of documents, tenant records, rent agreements, and other services are now available at fingertips. The adoption of the property management system has shown significant results in revenue generation and secure management. The property advisors on observing the benefits of this system are rapidly moving towards property management solutions, which is helping the market in gaining fast global recognition.
The global property management market is getting popular, but factors like less disposable budgets and an unstable real estate market are the primary enemies of this market. Since the major recession in the global market, the demands for properties have gone down, which limits the adoption of management systems.
Property Management market segments:
The global property management market is segmented into four parts, which are:
Components: solutions and services are the components of this market.
Deployment: This management system is deployed through on-premise and cloud-based platforms.
Applications: It is used for commercial and residential property management.
End-Users: Housing associations and real-estate agents/managers are the major end-users of this market.
The Key Players of the Global Property Management Market are Skyline Property Management, Re-Leased Software Company Ltd, Rosmiman Software Corporation, MRI Software LLC, Buildium, Yardi Systems, Inc., AppFolio, Inc., IBM, Oracle, SAP, Trimble Inc., RealPage, Inc., Accruent, Spacewell, and Chetu Inc.
Regional Market Summary:
America, Europe, Asia Pacific, and The Middle East & Africa are the major regions observed for the global property management market.
The American region is the current market leader and will maintain its lead during the survey period with North America as the major shareholder. Increasing constructions & building activities, demands for better housing solutions and other factors are driving the market here. The European region is the next biggest market, followed by the Asia Pacific region. The Asia Pacific region will emerge as the fastest growing market due to the vast population covers, increasing urbanization, rise in disposable incomes, rising living standards, and other factors.
The rest of the regions are growing at sluggish rates due to slow construction activities, fewer demands, and limited awareness among the agents.
Recent Industry News:
The global property management market is gaining pace with rising market standards and demands for efficient solutions. Still, the factors like limited budgets and unstable real estate industry are limiting this market’s speeds. The American region is the current market leader and will maintain its lead, with North America, the major shareholder, whereas The Asia Pacific region will emerge as the fastest growing market due to vast and unlimited growth opportunities. The commercial segment is expected to grow at the fastest speeds during this period.
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