Property Management Software Market Research, 2031
The global property management software market was valued at $3 billion in 2021, and is projected to reach $4.7 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.
The property management software industry is segmented into solution, deployment model property type and region-wise.
An app-based software solution termed property management software assists property managers in automating administration, finance, and back-office operations. These software solutions offer functionalities like online payment processing, electronic leases, document storage, and service tracking. This software can be used by a variety of clients, ranging from independent landlords to commercial multiplexes & building owners overseeing several thousand units.
The property management software market share is expected to witness notable growth during the forecast period, owing to the increase Adoption of cloud computing solutions and software-as-a-service (SaaS) platforms, machine learning tools and internet of things (IoT). Furthermore, rising development of smart real estate infrastructure and growing dependency upon one platform approach have driven the growth of the market. However, lack of awareness regarding optimal software solutions is the prime factor restraining the market growth. On the contrary, surge in consumer demand for sustainable living and working spaces is expected to propel the property management software market growth forward, during the forecast period.
Accounting & cash flow solutions are utilized for to supervise the inflow and outflow of money for small- and large-scale property owners as well as housing societies and other property-owning companies. Accounting & cash flow management solutions is used by property service providers to both maintain a sustainable cash flow and estimate future cash flow based on prior transactions and historical financial during application of this solution.
Cloud-based property management software solutions are delivered via cloud, which is an online server. Several features are offered by cloud-based property management software including access monitoring & tracking, CRM integration, and payment gateways, legal consultancy and artificial intelligence (AI) driven technical support. There are several responsibilities and challenges involved in day-to-day property operations such as society gate entry, scalability, multiple property management, 24x7 availability and others. These activities tend to pile up in no time. Hence, deployment of a cloud-based property management software makes it easier for real estate property owners.
Commercial property management software integrates a wide range of non-residential properties, including co-working spaces where professionals can rent workspace by the day or the hour, public accommodations like hotels and parks, retail properties such as malls, restaurants, and gas stations, office properties like real estate brokerages or clinics, and various other business making properties. Investments in the commercial sector are anticipated to fuel the expansion of the property management software market, owing to factors such as increasing need for cyber risk management, rise in disposable income, and evolving consumer technologies.
Region wise, the property management software market trends are analyzed across North America (U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America, specifically U.S. and Canada, remains a significant participant in the global solution industry. Major organizations and government institutions in the country have been actively using solutions.
TOP IMPACTING FACTORS
Significant factors that impact growth of the global property management software industry include rapid cloud computing solutions and rise in adoption of digitalization along with dependency on software-as-a-service (SaaS) platforms. Increase in development of smart real estate infrastructure and increase in dependency on one platform approaches have positively impacted the market growth. However, lack of awareness regarding optimal software solutions hampers growth of this market. On the contrary, surge in consumer demand for sustainable living and working spaces provide potential rise in prevalence for cloud-based solutions that is expected to provide lucrative market opportunities during the forecast period.
Competitive analysis and profiles of the major property management software market players, such as Alibaba Cloud International, Console Australia Pty. Ltd., Entrata, Inc., IQware Inc., Microsoft Corporation, Oracle Corporation, PropertyMe Pty. Ltd., REI Master Pty. Ltd., Rockend Pty. Ltd. and TAP Co., Ltd. are provided in this report.
KEY BENEFITS FOR STAKEHOLDERS
This study comprises an analytical depiction of the property management software market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall property management software market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
The current property management software market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
The report includes the market share of key vendors and property management software market trends.
Property Management Software Market Report Highlights
Market Size By 2031
USD 4.7 billion
CAGR of 4.9%
2021 - 2031
By Deployment Model
By Property Type
Key Market Players
Alibaba Group Holding, TAP Co., Ltd., Console Australia Pty. Ltd., REI Master Pty. Ltd., Entrata, Inc., Microsoft Corporation, Rockend Pty. Ltd., Oracle Corporation, IQware Inc., PropertyMe Pty. Ltd.
In order to efficiently satisfy requirements of real estate managers, property management software has evolved through decades. To obtain a large market share, developers of property management software are increasingly implementing artificial intelligence (AI), big data analytics and cloud computing solutions. In the property management software industry, business intelligence assists a wide range of operations, from automating renter contact and lead creation to screening of pre-qualified and interested prospective customers.
Global property management software market is highly competitive, owing to strong presence of existing vendors. Property management software providers, who have access to extensive technical and financial resources are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
Rise in demand for smart networking systems is anticipated to propel the property management software market share during the forecast period. The industry has expanded as a result of increase in development of smart real estate infrastructure, as well as adoption cloud computing solutions and software-as-a-service (SaaS) platform. However, the primary challenge limiting market growth are the lack of awareness regarding optimal software solutions. On the other hand, increased reliance on one platform approach and consumer demand for sustainable living and working spaces is anticipated to increase market penetration, which will fuel the expansion of the property management software market during forecast period.
Among the analyzed regions, North America exhibits highest adoption rate of property management software and has been experiencing massive expansion of the market. On the other hand, Asia-Pacific and Europe is expected to grow at a faster pace, predicting lucrative growth, owing to emerging countries, such as UK, China, Germany, Japan and India investing in these technologies. Regions, such as the LAMEA, are also expected to offer new opportunities for the property management software market in the future.
The key players profiled in the report include Alibaba Cloud International, Console Australia Pty. Ltd., Entrata, Inc., IQware Inc., Microsoft Corporation, Oracle Corporation, PropertyMe Pty. Ltd., REI Master Pty. Ltd., Rockend Pty. Ltd. and TAP Co., Ltd. Moreover, to promote organic growth and solidify their positions in the property management software industry, all market participants are investing a significant amount into R&D activities. In addition, to produce technologically innovative products and acquire a competitive edge in the market, they are also placing a major focus on mergers and acquisitions and strategic alliances.