The Asia Pacific Real Estate Software Market would witness market growth of 10.6% CAGR during the forecast period (2021-2027).
The real estate software helps in properly managing the workforce which is among the foremost requirement of the real estate business. The features such as allowing single accounts for multi-users, multiple logins and others help in doing so. Also, this software helps in creating well-groomed hierarchy which further enables performance management & generation of daily reports smoothly and gets benefits of no duplication and creating task reminders.
Moreover, the real estate software allows the business to run, achieve and maintain payment schedules and other essential information related to the properties. The information related to the renewal of the lease, lease termination, etc. can be managed efficiently on the cloud. The information regarding payment collection and fees related to properties can be aligned to eliminate the chances of any delay resulting in a penalty.
The SERI (Security & Exchange Board of India) has approved Real Estate Investment Trust (REIT) platform, which would enable every small or large investor to invest in the Indian real estate industry which may serve as an opportunity for the real estate software market. Additionally, the migration from rural to urban areas in various emerging economies such as India & China is increasing the demand for housing as well as rental properties by the migrators coming from rural areas.
Furthermore, the increasing flow of foreign direct investment (FDI) in the real estate industry of India has also been resulted in increased transparency. The developers in the region are improving their management as well as accounting structure to match the diligence standards in order to attract funding from the private as well as the public sector.
The China market dominated the Asia Pacific Real Estate Software Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,419.7 million by 2027. The Japan market is exhibiting a CAGR of 9.9% during (2021 - 2027). Additionally, The India market would experience a CAGR of 11.3% during (2021 - 2027).
Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Type, the market is segmented into Customer Relationship Management Software, Enterprise Resource Planning Software, Property Management Software, Contract Software, and Others. Based on Application, the market is segmented into Residential and Commercial. Based on End-use, the market is segmented into Architects & Engineers, Real Estate Agents, Project Managers, 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 Real Estate Software Market is Projected to reach USD 15.8 Billion by 2027, at a CAGR of 8.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Autodesk, Inc., Oracle Corporation, Microsoft Corporation, Altus Group Limited, CoStar Group, Inc., MRI Software LLC, RealPage, Inc., and Yardi Systems, Inc.
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