Rising Trend of Workplace Mobility Has Increased the Demand for Property Management Software Market

Globally, the property management software market is expected to grow with a CAGR of 5.8% during the forecast period from 2023 to 2030 and has registered a market value of US$ 15.58 Bn in 2021. Property management software is defined as the application, which is used to perform various operations for residential, commercial, rental properties, and hospitality accommodations. The software provides different data and parameters associated with the property such as agreements, lease timelines, integrated banking, electronic lease, online document storage, and others.

The increasing infrastructure globally, due to the rising population has led to increasing in the demand for new houses and buildings, which is affecting the growth of the property management software market globally. The software fetches the information related to the property and the earlier transactions made for the property, allowing the user to manage and maintain the property information.

Property Management Software with On-Premise in its Deployment Segment Dominates the Market

In 2021, the overall property management software market was led by the On-premise segment contributing to a high percentage of the market share of the total revenue generated globally in 2020 and is expected to grow with a CAGR of more than 5.0% during the forecast period. Companies use on-premise software as a traditional way of installation. However, the cloud segment is expected to be the fastest-growing segment during the forecast period and is expected to dominate the market during the year 2029.

The cloud allows the users to operate the software without any problem irrespective of the place. Thus, the flexibility of the cloud allows the user to use the software from anywhere and on any device is expected to drive the market during the coming years.

North America Dominates the Market by Region

The global property management software market was led by North America with a market share of more than 35.0% in the year 2020. This is due to the increasing development of infrastructure in the region and the increasing number of migrated people. Moreover, the region is one of the earliest adopters of technology and increasing the trend of work from home is one of the major factors which is driving the market in the region. As the operator can access the software from anywhere and can work with the help of the cloud by accessing the software integrated with it, allowing the property agents to keep track of the properties and manage accordingly.

Some of the prominent players operating in the property management software are JLL Incorporated, IBM Corporation, Oracle Corporation, Trimble Inc., SAP SE, RealPage Inc., Yardi Systems Inc., Console Australia,  AppFolio Inc., MCS Solutions LLC, FSI Inc., ARCHIBUS Inc., Planon Corporation, Entrata Inc., Accruent LLC, London Computer Systems, and iOFFICE Inc.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Property Management Software market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Property Management Software market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Property Management Software market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Property Management Software market?
• Which is the largest regional market for Property Management Software market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Property Management Software market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Property Management Software market worldwide?