North America Property Management Software Market By Application (Residential and Commercial), By Deployment Type (Cloud and On-premise), By End User (Property Managers/ Agents, Housing Associations, Property Investors and Others), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The North America Property Management Software Market would witness market growth of 4.6% CAGR during the forecast period (2021-2027).
Property Management Software makes the work easy for property managers as it automates operational, financial, and back-office activities. The mature real estate market and strong infrastructure of the developed nations of this region are creating lucrative growth opportunities for property management software providers to expand their business in this region. The application of the property management software offers tools for rental housing, apartments, commercial property, storage facilities & property owner associations, tracking tenant information, leasing agreements.
The swift development in infrastructure and technology is encouraging emerging nations to implement property management in several business processes. Increasing public & private investments and infrastructure development around these nations are estimated to offer lucrative growth opportunities to property management software manufacturers in the forthcoming years.
Cloud-based property management software focuses on the installation of actuators and sensors in the infrastructure facilities of luxury hotels, which simultaneously increases the hotel room revenue with consequent future concerns. As the property management business grows with new services, the cloud helps in handling the bandwidth, extra storage, and computing demands. It also makes sure that the system takes care of updates to operating systems and other software so that it will not waste the time.
The regional PMS market is flourishing due to the presence of major players like Yardi Systems Incorporation, Entrata Incorporation, MRI Software LLC, and AppFolio Incorporation. The United States is dominating this region with significant growth. Also, the factors like decrease in the additional cost in administrational expenses, high preference of the software-as-a-service (SaaS) for PMS, and focus on flexibility in property management are propelling the regional market growth.
The US market dominated the North America Property Management Software Commercial Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $604.7 million by 2027. The Canada market is experiencing a CAGR of 9% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 8.1% 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 U.S., Mexico, Canada, and Rest of North America.
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
Scope of the Study
Market Segments Covered in the Report:
- Retail Spaces
- Office Spaces
By Deployment Type
By End User
- Property Managers/ Agents
- Housing Associations
- Property Investors
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- SAP SE
- Oracle Corporation
- IBM Corporation
- InnQuest Software
- IQware, Inc.
- MRI Software LLC
- RealPage, Inc.
- Yardi Systems, Inc.
- Jones Lang LaSalle IP, Inc.
- HiRum Software solutions
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