Property Management Market Growth Propelled By Cloud Service

Posted by industryarc on August 9th, 2019

Artificial Intelligence is overwhelmingly driving the web-based property management market with multitasking and automated real estate business operation. With the advent of cloud services, property management vendors such as Yardi and Buildium utilize web-based software in collaboration with the latest techniques (Building Information Modeling (BIM)) that offer comprehensive property management, control, and maintenance of any commercial, lease, private or governmental estates. These benefits have a remarkable positive impact on the global property management market revenue which stood at .21 billion in 2018, according to the latest business publication from IndustryARC. Growing business in the corporate sector requires equal management and handling of every task, but it is quite difficult to accomplish efficiency of every particular being indulged in diverse works. Ultimately entrepreneurs require the involvement of third party associates for handling many core business tasks such as property management. With a lot of modules coming into the forefront, property owners earlier relied on professional property managers to simplify the property related accountabilities. This elevated the demand for technology proficient property management software which is estimated to grow at a CAGR of 7.52% through to 2025.

The report is titled “Property Management Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast (2019-2025).” It provides a comprehensive insight on different aspects of the property management market along with geographical revenue share, scope and opportunities, and strategic and patent analysis.

View Full Table Of Content Of Property Management Market: 

https://www.industryarc.com/Research/Property-Management-Market-Research-500729

Global Property Management Market: Competitive Landscape:

North America contributed a major regional share of 38.48% in 2018, as per the aforementioned report. The U.S. experiences high revenue income owing to development in various industrial sectors and innovations in the technological field. With a stable economic population in this region, the property management market leverage significant benefits through service towards residential, non-residential, government, and private properties along with large scale real estate investments and rental brokerage.

With advancements in sectors such as web-based lease accounting and real estate management, asset maintenance management, and reservation management through advanced property management software; small scale business enterprises can leverage cost-effective services and solutions related to their properties. The commercial sector such as retail business will exert huge demand pull on property management market which is estimated to grow at a CAGR of 8.39% during the forecast period of 2019-2025.

The market players dominating the property management market are AppFolio, Buildium, LCS, Entrata, Console Group, Resman, Rentec Direct, and others. AppFolio provides advanced property management software services with supporting features such as active account activity, accessible marketing opportunities, residential and leasing tasks, and others for digitally revolutionizing the real estate business.

Global Property Management Market: Growth Drivers And Trends:

Cloud Software Services:

Property management software work in link with cloud computing thereby offering a wide range of services to operators such as paperless documentation, maintenance, accounting and property analyzer, property information and provision for property advertising in social media. With all data being stored on a cloud system, it is a reliable and an easy accessible source for businesses. There is an increasing demand of property management from various sectors such as construction and real estates, government, hospitality, and retail end-users attributing to the cost-effective and secured, time-saving property management methods.

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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.