Press release
Property Management Software Market was estimated USD 2,775 million in 2019 and will grow at 4.3% CAGR by 2027 | Size, Share & Report Analysis
Property Management Software Market
The Property Management Software Market was calculated around USD 2,775 million in 2019 and is expected to grow at a CAGR of 4.3% over the forecast period (2020-2027).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/property-management-software-market-analysis-industry-research/
The factors driving the growth of Property Management Software Market includes growing demand for web-based services including Software as a Service (SaaS), rise in the construction of residential buildings and apartments and government initiatives promoting digitalization. According to the report published by Statista, the revenue generated by real estate companies worldwide was valued around USD 9.5 billion in 2021 and this figure is expected to reach USD 14.6 billion by the end of 2030, which will accelerate the Global Property Management Software Market in the approaching years. Moreover, the integration of advanced technologies such as Artificial Intelligence (AI) and Machine Learning with property management software, rapid urbanization and increasing disposable incomes, are some of the additional factors supplementing the Property Management Software Market Size. In addition, property management software provides 24*7 support to customers through its AI enabled chatbot, tracks and gather financial details and eases payments between tenants and contractors, are some of the features pushing the market growth.
The leading players operating in the market are MRI Software LLC, RealPage, Inc., REI Master, AppFolio, Inc., Buildium, CORELOGIC, Yardi Systems Inc., Entrata, Inc., InnQuest Software and IQware Inc., among others.
Based on Deployment, the Cloud segment is predicted to expand at a significant CAGR during the forecast period
Cloud based software provides backup facility, increasingly used by property managers and housing associations and are scalable, are some of the factors responsible for the segment's growth.
Based on End-User, the Property Managers/Agents segment is projected to grow at a remarkable CAGR over the forecast period
Property management software helps property managers to settle due without physically travelling to bank, manage maintenance request and rise in the number of commercial properties, are propelling the growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to expand at a robust CAGR during the forecast period
Rapid growth in the real estate industry, growing adoption of advanced technologies, rising demand for web-based services including Software as a Service (SaaS), increasing per capita income and high population growth rates, are some of the important factors Property Management Software Market share the market growth in Asia-Pacific region.
Market Segmentation
Segmentation by Deployment
Cloud
On-Premises
Segmentation by Application
Residential
Commercial
Segmentation by End-User
Housing Associations
Property Managers/Agents
Property Investors
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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