The Asia Pacific Property Management Software Market would witness market growth of 6.6% CAGR during the forecast period (2021-2027).
Earlier, data management of the property was done in a different way where the data is inserted manually with the help of Notepad, Microsoft Excel, or other spreadsheets, which makes the process inefficient, slow, and vulnerable to errors. Similarly, property owners or landlords either hire third-party property managers or manage their property themselves, which requires more time investment, and workforce. Therefore, to avoid human errors and simplify the work through automation, the property management software was designed.
With the high availability and help of property management software, the owners and property managers become capable enough to automate and streamline their work. In addition, computer record-keeping and PMS solutions have extensively propelled the efficiency of hospitality industries by centralizing and updating multiple computer and devices records. Additionally, it is possible to customize the PMS solutions according to the need of the hospitality industry which can simplify the operations such as hotel inventory supply management, automation of bookings, Point of Sale (POS) integration, food & beverage costing, reporting of Key Performance Indicators (KPI), security & room locks, and check-in & check-out, PMS can be personalized as per the need.
This region includes several developing countries Bangladesh, India, Maldives, Mongolia, China, Nepal, North Korea, and many others. The economy of these countries suffered a slowdown due to the severe impact of the COVID-19. This region is experiencing rapid growth in the infrastructure and property management system. Also, the integration of cloud-based solutions in property management software is enhancing the working style of the workforce population.
The rising population, government regulations, and outsourcing services are the key factors that are augmenting the market growth of the region. Additionally, the technological improvements in the property management software solutions like artificial intelligence, data analytics, and machine learning are flourishing the regional growth. Therefore, these factors are likely to propel the further development of the regional property management software market over the forecast period.
The China market dominated the Asia Pacific On-premise Property Management Software Market by Country 2020, thereby, achieving a market value of $74.4 million by 2027. The Japan market is showcasing a CAGR of 4.8% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 6% during (2021 - 2027).
Based on Application, the market is segmented into Residential and Commercial. The commercial Segment is further bifurcated across Retail Spaces, Office Spaces, Hotels and Others. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on End User, the market is segmented into Property Managers/ Agents, Housing Associations, Property Investors and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Property Management Software Market is Projected to reach USD 4.1 Billion by 2027, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Oracle Corporation, IBM Corporation, InnQuest Software, IQware, Inc., MRI Software LLC, RealPage, Inc., Yardi Systems, Inc., Jones Lang LaSalle IP, Inc., and HiRum Software solutions
By Application
By Deployment Type
By End User
By Country
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