Real Estate Software Market Trends, Statistics, Segments, Growth Factors | Forecast to 2031

Real Estate Software Market: Overview

The real estate software market has been projected to grow at a significant speed in the foreseeable years. The growth avenues in the global market are on the back of the increasing rate of digitization of the existing consumer records and data. This factor further helps the clients to predict the purchasing behavior as well as ongoing trends among consumers. These factors are likely to fuel the expansion avenues in the global market during the forecast period.

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In recent years, there has been a rapid growth in the population across the world. Further, urbanization has also increased at a fast pace globally. These factors have stimulated the growth in the key projects for infrastructure development with the use of smart solutions. Along with these factors, the rapid adoption of novel software technologies, for example, artificial intelligence and cloud around different applications are also predicted to bolster the growth opportunities in the real estate software market during the forecast period.

Real Estate Software Market: Key Trends

On the flip side, the discontinuation of various construction activities around the world during the COVID-19 pandemic has led to a small decline in the real estate software market, which is recovering its growth post-pandemic.

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Real estate software is providing assistance to the increased productivity of the businesses as these work for different areas, for example, online advertising, websites, and social media. This factor further drives the increased demand for effective software tools that are likely to fuel lucrative opportunities in the global market in the forthcoming years.

Improvements in the automation technologies and rising digitalization of the real estate businesses are also estimated to put a positive impact on the growth impetus in the real estate software market during the forecast period. Along with this, the need for the improved security of sensitive data as well as data management techniques has also been predicted to fuel the expansion avenues in the global market.

Real Estate Software Market: Competitive Dynamics and Key Developments

The key players from the real estate software market have been taking initiatives to develop novel growth opportunities in the following years. Technological advancements due to increased R & D activities with rising investments are serving as one of the key strategies to boost the market growth. Along with this, these players are also incorporating some other growth strategies such as geographical expansions, development and launching of products, collaboration with various other players in the industry, expansion of distribution network, mergers & acquisitions, and portfolio diversion to gain a competitive edge in the global market.

For instance, MRI Software has acquired Manhattan, Trimble's real estate and workplace solutions business in April 2021. The motive of this action is to enhance the offerings of workplace management.

The key players in the real estate software market are:

Altus Group Ltd.
Yardi Systems Inc.
Autodesk Inc.
Trimble Inc.
CoStar Realty Information Inc.
SAP SE
Microsoft Corporation
RealPage Inc.
Software LLC
Oracle Corporation

Real Estate Software Market: Regional Assessment

The real estate software market has been divided into Latin America, Asia Pacific, Europe, the Middle East & Africa, and North America on the basis of geographical regions. North America is likely to account for a noticeable share in the market revenue. The adoption of novel technologies for different residential and commercial applications is predicted to impact the growth avenues in the regional market. In addition to this, increased infrastructure development activities and urbanization are also expected to drive the growth avenues in the North America region. Rising infrastructure investments along with increased concentration on smart city projects have also been serving as noteworthy factors to bolster expansion opportunities in the region.

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