Property Management Market Share, Growth, Trend and Forecast to 2027Posted by mahavir mete on April 13th, 2021 Overview Property management software is used by real estate agents, property managers, and owners in managing their estates efficiently. The global property management market report by Market Research Future (MRFR) conducts an investigative examination of the industry replete with drivers and challenges for the period of 2019 to 2025 (forecast period). The outbreak of the COVID-19 virus and its impact coupled with comparison of similar software can provide a comprehensive picture. Market Scope The property management market Share is expected to expand at 7.3% CAGR during the forecast period to reach an astounding value of USD 21.4 billion by 2025. The huge demand for rentals and tourist rooms can drive the market demand exponentially. The range of all functions in software ranging from tenant screening to property management can drive its need among landlords and owners. Rise of ecommerce platforms and need for data analytics and ERP software can fare well for the market. The emergence of IT hubs and investments in industrial zones for creating employment opportunities and range of subsidies and incentives by governments will swell the market valuation till the end of the forecast period. Segmentation The global property management market has been segmented on the basis of component, deployment, application, and end user. Based on the component, the property management market has been segmented into solution and services. The service segment has been further categorized into integration services, consulting services, and training and maintenance services. The solution segment held the larger share in the year 2018 which is expected to remain the same during the forecast period. The service segment is expected grow at a higher CAGR during the forecast period. Under the service segment, the integration services segment is expected to grow at the highest CAGR during the forecast period. A large number of property managers in the coming years are expected to demand integration services which work in tandem with legacy systems like ERP and facility management solutions. This is expected to increase the demand for integration services by 2025. Based on deployment, the market has been segmented into on-premise and cloud-based solution. The cloud-based property management solution held the larger share in the year 2018 and is expected to remain so in the forecast period. A large number of end-users are opting for cloud-based deployment as it is scalable and cost effective, thereby increasing the overall demand for cloud-based property management solutions. Based on application, the property management market has been divided into residential and commercial. Moreover, commercial sub-segment has been further divided into retail, hospitality, office spaces, and others. The commercial segment is expected to grow at the highest CAGR in the forecast period due to increasing demand for rental offices. New incentives and schemes for encouraging localization of industries can work in favor of the market. Based on end-user, the property management market has been segmented into property manager/agent and housing association. Based on application, the property management market has been divided into residential and commercial. Both applications are likely to drive the demand for the software as mobile applications become ubiquitous in assisting in managing various properties. The rise in industrialization, ease of business indices of countries, and migration to cities by customers can sustain the growth of both application segments. Regional Analysis Geographically, the global property management market has been segmented into Asia Pacific (APAC), North America, Europe, the Middle East & Africa (MEA), and South America. North America has captured a large market share in the property management market. Some of the factors that are responsible for the growth of the market include increasing housing development in the region as well growing investment by real-estate agents in various advanced technologies Europe has occupied the second position in the market. The rise of tourist spots and vacation hubs in the region is likely to drive the demand for property management software as tourist numbers swell in the coming years. Vacation packages and management of multiple properties for rent can drive the regional market growth. Complete Report Details @ https://www.marketresearchfuture.com/reports/property-management-market-8553 Competitive Outlook AppFolio, Inc., IBM, Trimble Inc., Rosmiman Software Corporation, RealPage, Inc., Re-Leased Software Company Ltd, Oracle, MRI Software LLC, Spacewell, Yardi Systems, Inc., Skyline Property Management, Buildium, Chetu Inc., SAP, and Accruent are key players of the global property management market. About Market Research Future: Contact Like it? Share it! More by this author |