The Europe Property Management Software Market would witness market growth of 6% CAGR during the forecast period (2021-2027).
One of the key factors that are boosting the Property Management Software market demand is the rising commercial sector around the world. Other factors like growing disposable income, changing consumption technologies, and increasing cyber risk management are anticipated to surge the investments in the commercial sector, which is leading to the rise in the growth of the Property Management Software market. In addition, the commercial segment is distributed in the sub-segments like hotels, retail spaces, and office spaces. In the hotel management industry, property management software has become a necessary tool as it assists in managing the interface of many departments in a hotel to handle the property properly. It also helps in automatizing the hotel operations like guest details, food & beverage costing, guest bookings, quality management, materials management, online reservations, maintenance management, point of sale, accounts receivable, sales & marketing, events, HR and payroll, and other amenities.
Europe witnessed the second-largest market share in 2020, owing to the increase in the number of residential and commercial apartments, accompanied by the surge in digitalization in this region. Europe comprises both developed and developing nations, which are adopting property management software, thereby supporting the property management software market. The disposable income of this region is rising, which is also helping in the growth of PMS solutions deployment. Property management software not only assists in handling the documents but also helps in financial and account management.
In addition, several European countries are extensively investing in this software to get more benefits and profits by deploying property management software solutions within their organizations. This software solution also allows owners to have direct communication with tenants to get transparent updates and status notifications. These determinants are boosting the growth of property management software, thus, augmenting the regional property management software market.
The Germany market dominated the Europe Property Management Software Office Spaces Market by Country 2020, thereby, achieving a market value of $21.8 million by 2027. The UK market is exhibiting a CAGR of 7.8% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 9.4% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Property Management Software Market Size will Hit $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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