Published Date: 26-Sep-2021
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According to a new report Global Property Management Software Market, published by KBV research, The Global Property Management Software Market size is expected to reach $4.1 billion by 2027, rising at a market growth of 5.4% CAGR during the forecast period.
The cloud segment acquired the maximum revenue share in 2020 and would exhibit the similar kind of trend even during the forecast period. The increasing adoption of cloud deployment among several end-users comprising housing associations, corporate occupiers, and property managers is responsible for the growth of this segment. Small, medium and large enterprises are encouraged to shift towards cloud-based property management solutions due to the factors like ease of use, scalability, fewer disputes with tenants, and cost-effectiveness.
The property agents or managers segment garner the maximum revenue share in 2020 and is expected to sustain the same trend even during the forecast period. Factor like surge in the number of commercial property and real estate developments around the world is responsible for the growth of this segment. Additionally, property management software assists property agents and managers to have a track of all properties along with required maintenance work.
Asia Pacific is projected to witness the fastest growth rate during the forecast period. Determinants like increasing demand for enhanced data administration, accessibility of the collection & maintenance of property information, and constantly changing infrastructure in this region are responsible for the growth of the regional market. In addition, major factors like growing cloud-based solutions, outsourcing services, growing population, and government regulations are also responsible for the regional market growth. Moreover, technological advancements like data analytics, voice command to advance the capability of property management software, machine learning, and artificial intelligence are also anticipated to accelerate the installation of property management software in this region.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Deployment Type
By End User
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