The global Property Management Software Market size is anticipated to reach USD 8,041.0 million by 2030, expanding at a CAGR of 8.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing inclination of property managers and owners for scalability is anticipated to boost market growth. Also, factors such as the need to preserve documents related to property coupled with rising infrastructure development for smooth functioning are anticipated to be one of the key growth boosters.
The
demand for Property Management Software (PMS) has increased in the last few
years for residential suites and hotels. Availability of virtual storage and
internet bandwidth are a few of the key factors boosting the demand in the
residential sector and hotel industry. Additionally, the PMS in the residential
suites has developed into a tactical position due to advancements in
information and communications technology. Henceforth, automation serves a
broad array of PMS functions, including notices, leases, vacancies, circulars,
and invoice preparation, for the residential sector. PMS eliminates repetitive
tasks, enables better communication, and standardizes hotel management.
Escalating
demand for outsourcing services is another key factor positively impacting
growth. In the last few years, various market players have been aiming to
provide advanced PMS solutions such as AR-based and cloud-based solutions that
are quite tough to be managed internally, as it involves a huge expenditure for
recruiting a technically developed workforce and expending on their training
for the software. Numerous businesses outsource these services to property
management software providers to overcome these challenges. Moreover, an
increase in outsourcing activities in Asian countries such as India and the
Philippines from the Middle East and Western countries appears to significantly
contribute to regional market growth.
List of Key Players in the Property Management
Software Market
- AppFolio,
Inc.
- CoreLogic
- Console
Australia Pty Ltd
- Entrata,
Inc.
- InnQuest
Software
- IQware Inc.
- MRI Software
LLC
- RealPage,
Inc.
- REI Master
- Yardi
Systems Inc.
- Zillow
Group, Inc.
- ManageCasa
Related Press
Release@ Property
Management Software Market Report
Property Management Software Market Report Highlights
- The market
for property management software is anticipated to witness substantial
growth during the forecast period owing to the increasing investments
in real estate and the rise in the demand for transparency in
property management
- The cloud
segment accounted for the largest market share in 2022, owing to factors
such as scalability, cost-effectiveness, ease of use, and immediate access
to the latest information with real-time data update
- The software
segment accounted for the largest market share in 2022, owing to factors
such as accelerated digital transformation, driven by the COVID-19
pandemic, prompting property management businesses to streamline
operations, enhance tenant experiences, and achieve operational excellence
through robust software platforms
- The property
managers/ agents segment accounted for the largest market share in 2022,
owing to a rising number of real estate and commercial property
developments across the globe
- The
commercial segment is expected to register highest growth over the
forecast period. Rising demand for PMS solutions for commercial
applications such as retail spaces, office spaces, hotels, entertainment
venues, and data centers & co-location facilities, among others, to
enhance operational efficiency and tenant satisfaction are the key factors
expected to fuel investments in the commercial sector
- The North
America market accounted for the largest market share in 2022, owing to
the presence of prominent players offering property management software
solutions/services in the region
- Some of the
prominent market players in the market include AppFolio, Inc., Console
Australia Pty Ltd, CoreLogic, Entrata, Inc., RealPage, Inc., MRI Software
LLC, and Yardi Systems Inc., among others
Property Management Software
Market Report Scope
|
Report Attribute |
Details |
|
Market
size value in 2023 |
USD
4,671.5 million |
|
Revenue
forecast in 2030 |
USD
8,041.0 million |
|
Growth
Rate |
CAGR of
8.1% from 2023 to 2030 |
|
Base year
for estimation |
2022 |
|
Historical data |
2017 - 2021 |
|
Forecast period |
2023 - 2030 |
Property Management Software Market Segmentation
Grand
View Research has segmented the global property management software market
based on deployment, solution, application, end-user, and region:
Property Management Software Deployment Outlook (Revenue,
USD Million, 2017 - 2030)
- Cloud
- On-Premises
Property Management Software Solution Outlook (Revenue,
USD Million, 2017 - 2030)
- Software
- Rental
Listings Management
- Applicant
Management
- Reporting
& Analytics
- Maintenance
Activities Management
- Others
- Services
- Professional
Services
- Managed
Services
Property Management Software Application Outlook
(Revenue, USD Million, 2017 - 2030)
- Residential
- Multi-family
Housing/ Apartments
- Single-family
Housing
- Others
- Commercial
- Retail
Spaces
- Office
Spaces
- Hotels
- Others
Property Management Software End-User Outlook (Revenue,
USD Million, 2017 - 2030)
- Housing
Associations
- Property
Managers/ Agents
- Property
Investors
- Others
Property Management Software Regional Outlook (Revenue,
USD Million, 2017 - 2030)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Spain
- Asia Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Mexico
- Middle East
& Africa
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