Tenant Billing Software Market Size Worth 4.21 Million By 2027
Posted by Nicky Arora on May 21st, 2021
The global tenant billing software market size is expected to reach USD 544.21 million by 2027, registering a CAGR of 8.4% over the forecast period, according to a new report by Grand View Research, Inc. Rapidly growing adoption of automatic tenant metering and smart grid technology is a primary factor propelling the growth of the market. The market growth can be ascribed to growing demand for real-time tenant utility consumption.
Several commercial properties still use manual tenant metering and bill generation as part of their tenant sub metering workflow. However, the manual metering not only makes the process slow but often builds several errors and inconsistencies for owners and occupants. Whereas, automated metering tracks revenue recovery in real-time and drills down to individual occupants. Moreover, it offers improved experience by showing occupant’s real-time transparency into their utility costs.
Rapidly increasing number of retail stores, hotels, business buildings, airports, and industrial sites is also offering promising growth prospects for the market. North America accounted for the largest market share in 2019 on account of rising demand for advanced tenant billing software in the region. Furthermore, enterprises of all sizes are creating a huge demand for cloud-based billing software in North America, thus boosting the market growth in this region.
Request a free sample copy @ https://www.grandviewresearch.com/industry-analysis/tenant-billing-software-market/request/rs1
Tenant Billing Software Market Report Highlights
Tenant Billing Software Market Segmentation
Grand View Research has segmented the global tenant billing software market based on deployment, application, and region:
Tenant Billing Software Deployment Outlook (Revenue, USD Million, 2016 - 2027)
Tenant Billing Software Application Outlook (Revenue, USD Million, 2016 - 2027)
Like it? Share it!
About the AuthorNicky Arora
Joined: October 15th, 2019
Articles Posted: 389
More by this author