info@strategicmarketresearch.com
26, Broadway, Suite 934, New York , 10004
us US: +18317045538    uk UK: +441256636046    in IN: +918260836500
Home » Information and Communication Technology » Property Management Software Market Analysis Report-2030

Property Management Software Market: By Deployment (On-premises, Cloud), By Application (Residential (Single-family Housing Apartments, Multi-family Housing Apartments, Others), Commercial (Office Spaces, Retail Spaces, Hotels, Others)), By Deployment (Property Managers and Agents, Housing Association, Property Investors, Others), By Geography, Segment revenue estimation, Forecast: 2021-2030.

Published On: Mar-2022   |   Base Year: 2021   |   No Of Pages: 135   |   Historical Data: 2015 - 2019   |   Formats: PDF   |   Report ID: 63819018

Report DescriptionTable of Contents

The global property management software market size was $1.64 Billion in 2021 and is predicted to reach $2.70 Billion by 2030, representing a CAGR of 5.73% throughout the estimated Forecast period 2021-2030.

 

Market Dynamics: -

 

Market Drivers: - (The continuous increase in demand of SaaS across the globe)

  • The escalating demand for web-based services across the globe, such as the Software as a Service (SaaS) technology, is augmenting the overall growth of the market to a great extent. SaaS-enabled PMS (Property Management Systems) helps to manage the daily operations efficiently such as building maintenance, tenant and lease tracking, accounting, etc. This software provides a centralized type of platform for thoroughly viewing all the properties and also enables supervision regarding the other property-related operations, such as addressing the various requirements of the tenants and maintenance tasks. According to DevSquad, the SaaS market is booming day by day, as a result of which more & more companies are choosing the SaaS technology to be a long-term part of their respective businesses. 38% of the companies say that they are totally running their organization on SaaS, whereas 80% of the businesses worldwide are planning to convert their systems to SaaS by 2025. Companies of all sizes are investing a hefty amount on SaaS which is estimated to reach a whopping USD500 Bn by 2023.

 

  • Apart from the Saas technology, the rise in demand for other property management software such as yardi voyager, simplifyem, onesite realpage, hemlane, tops hoa software, remain property management software, Hilton PMS system, synxis pm software, opera software for hotels, condo association software, condominium management software, maestro hotel software along with the growth of real estate management software market facilities, management software market, hospitality property management software market, facilities management software market,
    association management software market, commercial property management software market, and rental property management software market are also augmenting the overall market growth to a great extent.

Property Management Software Market Based on Market Share

 

Restraints: - (Very costly and a time taking process)

 

The main factors that are responsible for obstructing the overall growth of the market are as follows:

  • It is very time-consuming if some company accidentally chooses the wrong system for operation.

  • Too expensive to afford for smaller businesses.

  • The training process is very costly and a huge time-taking process.

 

Opportunities: - (Rise of government funds across the globe)

Over the past few years, the worldwide governments are spending a hefty amount of money for the enhancement of Saas technology which in turn will provide ample opportunities for the market in the future.

 

Global Property Management Software Market Analysis: -

The Global Property Management Software Market is broadly segmented based on deployment, Application, End-user, and Regions.

 

Based on Deployment:

  • On-premises

  • Cloud

 

Based on Applications

Residential

  • Single-family Housing Apartments

  • Multi-family Housing Apartments

  • Others

Commercial

  • Office Spaces

  • Retail Spaces

  • Hotels

  • Others

 

Based on End-User:

  • Property Managers and Agents

  • Housing Association

  • Property Investors

  • Others

Property Management Software Market Based on Deployment

Based on Region:

North America

  • US

  • Canada

  • Mexico

  • Rest of North America

 

Europe

  • France

  • U.K

  • Netherlands

  • Switzerland

  • Germany

  • Finland

  • Belgium

  • Russia

  • Italy

  • Spain

  • Turkey

  • Rest of Europe

 

Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Malaysia

  • Australia

  • Singapore

  • Thailand

  • Indonesia

  • Philippines

  • Rest of Asia-Pacific

 

LAMEA

  • Brazil

  • Argentina

  • Uruguay

  • Saudi Arabia

  • Rest of LAMEA

 

Based on Deployment, the ‘Cloud’ segment comprehensively dominated the market with the highest share of around 61.13 % of the entire market in 2020. The growing adoption of cloud deployment among the various end-users across the world, including housing associations, property managers, and corporate occupiers due to the factors, such as ease of use, scalability, fewer disputes with tenants, and cost-effectiveness, are encouraging the small, medium, and large enterprises to shift completely towards the cloud-based property management solutions. Also, the cloud-based property management software provides seamless data integration and an excellent backup facility which helps in the prevention of data loss. All of these essential factors are driving the overall growth of this segment adequately.

 

Based on Applications, the ‘Residential’, the segment accounted for the largest market share of approximately 70.23% in 2020 and is likely to dominate throughout the forecasted period. This is due to the increasing investments in real estate companies across the world to launch new residential projects.

 

Based on End-User, the ‘Property Managers and Agents’held the largest revenue share of approximately 37.12% in 2020owing to an increasing number of real estate developments, and commercial properties across the globe. Also, the PMS helps the property managers and agents to keep a track of all the existing properties along with the necessary maintenance works associated with them.

 

Based on Region, ‘’North America” significantly dominated the market with almost 65.58% of the total market share in 2020 and will continue its domination during the forecasted period. The United States dominates the region comprehensively, owing to an increasing number of hotel spaces all across the country.

 

Europe held the 2nd-largest market share in 2020 due to the continuous increase of a large number of residential and commercial buildings, along with a higher degree of digitalization prevailing in the region.

 

However, the Asia Pacific held the fastest rate of growth registering a CAGR of about 7.17% from 2020 to 2030. The escalating demand for improved data administration, and the rapidly evolving infrastructure, coupled with accessibility for the collection and maintenance of property information are fertilizing the overall growth of the market in this region. Furthermore, some of the essential factors like government regulations, rising cloud-based solutions, increasing population, and several outsourcing services are also the key factors that are supporting the overall market growth in the region.

 

Competitive Landscape

A thorough competitive landscape analysis is crucial to figure out the major competitors that are prevailing in the market environment worldwide. The comparison is performed based on the company overview,the total revenue generated, company strengths and flaws, market potential, global presence, market initiatives, production capacities, company financials, investments in the field of Research &Development, production sites, and facilities, etc.

Property Management Software Market Based on Region

 

The list of key players that are incorporated in the Global Property Management Software Market report are:

 

Report Attribute

Details

Forecast Period

2021 - 2030

Market size value in 2021

USD 1.64 Billion

Revenue forecast in 2030

USD 2.70 Billion

Growth rate

CAGR of approximately 5.73%

Base year for estimation

2021

Historical data

2015 – 2019

Unit

USD Billion, CAGR (2021 - 2030)

Segmentation

By Deployment, By Applications, By Commercial, By End-User, By Regions.

By Deployment

On-premises, Cloud.

By Applications

Residential, Single-family Housing Apartments, Multi-family Housing Apartments, Others. Commercial, Office Spaces, Retail Spaces, Hotels, Others.

By End-User

Property Managers and Agents, Housing Association, Property Investors, Others.

By Region

North America, Europe, Asia Pacific, Rest of Asia-Pacific.

Country Scope

United States of America, United Kingdom, Italy, Germany, France, Spain, Canada, China, India, Japan, Brazil, Argentina, Mexico, South Africa, Saudi Arabia, etc.

Company Usability Profiles

IBM Corporation, Oracle Corporation, Honeywell, Yardi Systems Inc., AppFolio Inc., Buildium LLC, Trimble Inc., Total Management, Jones Lang LaSalle IP Inc, Console Australia Pty Ltd, CORELOGIC, Entrata Inc., InnQuest Software, IQware Inc., MRI Software LLC, RealPage Inc.

 

Recent Developments

  • On Dec 15th, 2021, Oracle Corporation announced that its newly launched OPERA Cloud Property Management Software System is on the verge of getting implemented across hotels worldwide. Hotels around the globe are checking into Oracle Hospitality OPERA Cloud property management software system (PMS) to improve their operations further and deliver great guest experiences. Since the past six months, Oracle has witnessed a 300% hike in customers using OPERA Cloud software and hence it gradually became one of the latest trends in property management systems across the globe.

  • On May 19th, 2021, Honeywell SAP launched Connected Buildings Solution Software to help the operators take wise decisions in their Real Estate businesses. This software system streamlines & combines the operational and business data for the property managers and owners to support their better decision-makings, reach sustainability goals quickly and drive greater efficiencies. This new solution called Honeywell Forge Real Estate Operations further enhanced the Honeywell Forge enterprise performance management software & was developed on the SAP Business Technology Platform jointly with SAP and is also regarded as one of the best property management software for small businesses.

 

Frequently Asked Question About This Report

b: The leading industry players of the market are IBM Corporation, Oracle Corporation, Honeywell, Yardi Systems Inc, AppFolio Inc, Buildium LLC, Trimble Inc, Total Management, Jones Lang LaSalle IP Inc, Console Australia Pty Ltd, CORELOGIC, Entrata Inc, InnQuest Software, IQware Inc, MRI Software LLC, RealPage Inc, and Yardi Systems Inc.

b: The global property management software market is expected to grow at a compound annual growth rate (CAGR) of 5.73% from 2021 to 2030 to reach USD 2.70 Billion by 2030.

b: The global property management software market size was $1.64 Bn in 2021 and is predicted to reach $2.70 Bn by 2030, representing a CAGR of 5.73%.

b: Based on Region, ‘North America significantly dominated the market with almost 65.58% of the total market share in 2020 and will continue its domination during the forecasted period.

b: Based on Applications, the Residential, segment accounted for the largest market share of approximately 70.23% in 2020 and is likely to dominate the market throughout the forecasted period of 2020-2030.

.