Press release
Real Estate Software Market Report 2024-2033: Size, Share, Growth, Trends, Analysis, Forecast, Competitive Landscape
Real Estate Software Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $17.5 billion In 2028 At A CAGR Of 10.6% :
The real estate software market size has grown strongly in recent years. It will grow from $10.71 billion in 2023 to $11.71 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to market adoption, regulatory landscape, competitive landscape, economic factors, user preferences.
The real estate software market size is expected to see rapid growth in the next few years. It will grow to $17.5 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to demographic shifts, user demands and expectations, global economic trends, integration with other systems, remote work and flexibility. Major trends in the forecast period include emerging technologies, technological advancements, mobile application, sustainability and green technologies, digitization and automation, blockchain technology.
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Real Estate Software Market Major Segments
The real estate software market covered in this report is segmented -
1) By Product: Enterprise Resource Planning (ERP), Property Management System (PMS), Customer Relationship Management (CRM)
2) By Deployment Type: Cloud, On-Premise
3) By Application: Commercial, Residential
Key Driver - Surge In Real Estate Activities Drives Growth In The Real Estate Software Market
The rise in commercial and residential real estate activities is expected to propel the growth of the real estate software market going forward. Many leading real estate companies are adopting software solutions for operations to reduce interruptions in services, decrease human errors, allot tasks efficiently for large volume projects, reduce communication gaps, and also manage finances. For instance, according to the Global Construction 2023 report, the volume of construction output is expected to grow by 85% to $15.5 trillion by 2030. China, India, and the United States are the major contributors to this growth. Therefore, the rising high-end apartments, houses, and skyscrapers in developing countries are driving the real estate software market growth.
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Prominent Trend - AI And Machine Learning Transforming The Landscape Of Real Estate Software
The adoption of artificial intelligence and machine learning is a rising trend in the real estate software market. Artificial intelligence (AI) enables applications to help real estate companies with marketing campaigns, managing property portfolios, leasing, accounting, operations, and many other functions. One of the recent developments of AI in the real estate market is virtual tours. Virtual tours are provided for properties that are still under construction or for customers abroad, where the customer can see a 3D view of the property. For instance, in February 2021, Zillow Group, an online real-estate marketplace company, launched a virtual tour experience that uses machine learning and various media content to create an interactive floor plan, which makes it easy for buyers to feel the property without visiting in person.
Real Estate Software Market Players
Major companies operating in the real estate software market report are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Fiserv Inc., SMR Group Ltd., Constellation Software Inc., Dassault Systèmes SE, Autodesk Inc., Trimble Inc., CoStar Group Inc., Zillow Group Inc., Mace Group Ltd., RealPage Inc., Yardi Systems Inc., Altus Group Ltd., AppFolio Inc., Entrata Inc., MRI Software LLC, Redfin Corporation, Havelock AHI Holdings Ltd., HomeHubZone LLC, Buildertrend Solutions Inc., Accruent LLC, DPS Group Global, Inside Real Estate LLC, LanTrax Inc., Propertybase LLC, ServusConnect LLC, AMTdirect LLC, Procore Technologies Inc., CoreLogic Inc., Zoho Corporation Pvt Ltd., Newforma Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the real estate software market in 2023. The regions covered in the real estate software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Real Estate Software Market Report Structure
3. Real Estate Software Market Trends And Strategies
4. Real Estate Software Market - Macro Economic Scenario
5. Real Estate Software Market Size And Growth
…..
27. Real Estate Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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