Market Scope and Structure Analysis
Property management refers to immediate tenants or prospects management. It additionally incorporates the arrangements and administrations for the land. Property management offers services like consulting, deployment, joining, support, and maintenance. Also arrangements, like asset maintenance, lease accounting, real estate management, reservation management, and others. It contains the administration of private property, a capital resource that includes factors like techniques, labor, frameworks need to deal with the procured property. Property management contributes to saving the hour of the landowner. Landowners do not need to stress over gathering rent, promoting the rentals, haggling with the inhabitants, reacting to occupant objections, and taking care of fix and support issues.
COVID-19 Impact Analysis
- COVID-19 pandemic has shut down and limited the supply chains and affected the real estate (property) management worldwide. This has hampered the growth of real estate (property) management from the last few months and is likely to continue during 2021.
- COVID-19 has already affected the revenue of the manufacturing market in the first quarter of 2021 and is anticipated to impact the market growth throughout the year.
- The major demand for real estate (property) management was previously noticed from giant construction countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand.
- Further, the potential impact of the lockdown is currently vague and the financial recovery of companies is based on its cash reserves. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
- During the COVID-19 recession, companies focus on developing new technologies for cost-efficient and quick solutions to meet the requirements of clients.
Top Impacting Factors
Increase in demand for SaaS model in the property management market which provides the user to pay for the services and management at any time without any hassle. This software enables multifamily property management organizations to combine all the software in the portfolio. The increase in trend of workplace mobility is also a driving factor for the market. In addition, high fluctuations in the real estate industry in all parts of the world and less ratio between population and real estate hamper the market growth.
Increase in demand for outsourcing services in property management in recent times and advancement in technologies that enables using AR-based solutions instead of hiring manpower can be a huge opportunity for the market.
Market Trends
- The launch of new products that contain improved capabilities has been launched by leading market players. For instance, Yardi systems Inc., introduced a ‘Rent Relief’ software in February 2021, which helps households and owners manage their payments and portfolio easily.
- Similarly, competitors in the real estate(property) management market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, Accruent announced the acquisition of Maintenance Connection, a leading Computerized Maintenance Management System (CMMS) provider in March 2018. The acquisition would accelerate Accruent’s property maintenance and management capabilities.
Key Benefits of the Report
- This study presents the analytical depiction of the real estate (property) management along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the real estate (property) management share.
- The current market is quantitatively analyzed to highlight the real estate (property) management market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed real estate (property) management market analysis based on competitive intensity and how the competition will take shape in coming years.
Key Market Segments
- By Component Type
- Solution
- Lease accounting and real estate management
- Asset maintenance management
- Workspace and relocation management
- Others
- Services
- Deployment and integration
- Consulting
- Support and maintenance
- By Application
- Commercial
- Residential
- Others (Education and industrial)
- By End User
- Property managers
- Housing associations
- By Region
- North America
- Europe
- France
- Germany
- Italy
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Hitachi Vantara
- JLL
- Yardi
- Oracle
- SAP
- ARCHIBUS
- Trimble
- AppFolio
- IBM
- MCS Solutions