Global Property Management Software Market: Overview
According to a new market report pertaining to the global
property management software market published by Transparency Market Research
the global property
management software market is projected to reach a value of ~US$
1.1 Bn by the end of 2019, and further increase to ~US$ 2 Bn
by 2027, expanding at a CAGR of ~7% from 2019 to 2027.
Expansion of the property management software market can be attributed to
increasing investments in real estate and rise in the demand for transparency
in property management. North America is anticipated to lead the global property
management software market, followed by Europe, during the forecast
period.
Increasing Investments in Real Estate Driving Property
Management Software Market
Investments in real-estate, worldwide, both, commercial and
residential, have increased at a significant rate. Investments in commercial
real estate hovered at the second-highest level in 2017. Expansion
of the commercial real estate sector across the globe is a major factor driving
investments in commercial real estate. The influence of technology, capital
flow, cyber risk management, evolution of talent, and PropTech platforms are
expected to fuel investments in commercial real estate, thus driving the
property management market. Real estate is a preferred investment option,
worldwide. Moreover, the ease of managing the property by centralized
administration, despite being at a remote location, is a major advantage of
real estate investment.
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Increasing Public & Private Investments and
Penetration of Cloud-based Technologies in Property Management to Offer
Significant Opportunity
Rapid technological and infrastructural developments are
prompting developing economies such as India, Brazil, China, Poland, Mexico,
the Philippines, and South Africa to adopt software across various business
processes, including property management. Rising infrastructure development and
private & public investments across these countries are expected to offer
lucrative opportunities to manufacturers of property management software in the
long term. For instance, as a part of the infrastructure development plan
decided by the U.K Government in 2016, the government is expected
to release public sector land to support the building of at least 160,000 homes
by 2021.
Property Management Software Market: Segment Analysis
The global property management software market has been
segmented based on component, application, end user, and region.
In terms of component, the property management software
market has been segmented into software (on-premise and cloud) and services
(system integration, training & support, and consulting). The software
segment is estimated to account for a prominent share of the global property
management software market by the end of 2019. The services segment
is projected to expand at a notable CAGR of ~6% during the forecast
period.
Based on application, the property management software
market has been divided into commercial {retail spaces, office spaces, hotels,
and others (airports, seaports, etc.)}, and residential [multi-family housing/
apartments, {(apartment buildings (low-rise), and apartment towers
(high-rise)}, single family housing, and others (student housing, etc.)]. The
residential segment is anticipated to account for a major share of the market
by the end of 2019. The commercial segment is estimated to expand
at a CAGR of 7.5% from 2019 to 2027.
Based on end user, the property management software market
has been divided into housing associations, property managers/ agents,
corporate occupiers, property investors, and others (affordable housing &
other specialties). The property managers/ agents segment is likely to hold a
notable share of the global property management software market by the end
of 2019. The corporate occupiers segment of the global property
management software market is estimated to expand at a CAGR of ~8% during
the forecast period.
Property Management Software Market: Regional Outlook
In terms of region, the global property management software
market has been segmented into North America, Europe, Asia Pacific, Middle East
& Africa, and South America. North America led the global property
management software market, and is likely to hold a substantial share by the
end of 2019, with the U.S. and Canada being major markets in the
region. The property management software market in North America is expected to
hold a dominant share of ~54% by the end of 2019. The
property management software market in Asia Pacific is estimated to expand at a
notable CAGR of ~9% during the forecast period.
The property management software markets in the Middle East
& Africa and South America are projected to expand at a moderate pace
during the forecast period.
Property Management Software Market: Competition
Dynamics
The research study includes the profiles of leading
companies operating in the global property management software market. Key
players profiled in the report include AppFolio, Inc., RealPage, Inc.,
CoreLogic, Chetu, Inc., Oracle Corporation, Alibaba Cloud, Eco Community Sdn
Bhd, Yardi Systems Inc., MRI Software Inc., ResMan (Nordic Capital),
Maintenance Connection, Rockend Pty. Ltd., Abacus Credit Management, PropertyMe
Pty. Ltd, DJUBO, HiRUM Software Applications, and REI Master Pty. Ltd.
Global Property Management Software Market:
Segmentation
Property Management Software Market by Component
- Software
- On-premise
- Cloud
- Services
- System
Integration
- Training
& Support
- Consulting
Property Management Software Market by Application
- Commercial
- Retail
Spaces
- Office
Spaces
- Hotels
- Others
(Airports, Seaports, etc.)
- Residential
- Multi-family
Housing/ Apartments
- Single-family
Housing
- Others
(Student Housing, etc.)
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Property Management Software Market by End User
- Housing
Associations
- Property
Managers/ Agents
- Corporate
Occupiers
- Property
Investors
- Others
(Affordable Housing & Other Specialties)
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