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Property Management Software Market Annual Growth, Size, Major Strategies, Key Companies, Revenue Share Analysis 2023 - 2032
Property Management Software Global Market
The Business Research Company's Property Management Software Global Market Report 2023 identifies increase in investments in smart cities as the major driver for the Property Management Software market's growth in the forecast period. Governments around the world are investing in the creation of smart cities. Smart city technologies uses information and communication technologies to efficiently manage and operate urban services, thus creating demand for efficient management of properties. The European Union is actively promoting smart city initiatives, with funds for research and sustainability targets for member states. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China. Hence, the investment in smart cities is expected to drive the growth of the market.
The global property management software market size grew from $1.75 billion in 2022 to $1.82 billion in 2023 at a compound annual growth rate (CAGR) of 4.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The property management software market size is expected to grow to $2.19 billion in 2027 at a CAGR of 4.7%.
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Major competitors in the Property Management Software market are AppFolio, Inc., Console Australia Pty Ltd., CORELOGIC, Entrata, Inc., InnQuest Software, IQware Inc., RealPage, Inc., Yardi Systems Inc., Buildium, Innago, Spacewell (MCS Solutions Pvt Ltd), ManageCasa, Planon, Jones Lang LaSalle IP.
A key trend in the Property Management Software market includes Artificial intelligence (AI) enabled applications in the property management. Artificial intelligence (AI) enabled applications assist real estate companies in marketing campaigns, managing property portfolios, leasing, accounting, operations, and many other functions For instance in November 2021, FacilioInc., a real estate portfolio management platform, announced the launch of its linked computerized maintenance management system (CMMS) solution, which helps businesses streamline operations, reduce costs, and keep up with changing client demands.
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The Property Management Software market is segmented -
1) By Deployment: Cloud, On-premise
2) By Application: Residential, Commercial
3) By End-User: Housing Associations, Property Managers/Agents, Property Investors, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Property Management Software market.
The Business Research Company's "Global Property Management Software Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Property Management Software Market Include:
1. Executive Summary
2. Property Management Software Market Characteristics
3. Property Management Software Market Trends And Strategies
4. Property Management Software Market - Macro Economic Scenario
5. Property Management Software Market Size And Growth
……
27. Property Management Software Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Property Management Software Market
29. Property Management Software Market Future Outlook And Potential Analysis
30. Appendix
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