Global Property Management Software Market, By Component (Software, Services), Application (Commercial, Residential), End User (Housing Associations, Property Managers/ Agents, Corporate Occupiers, Property Investors, Others) – Industry Trends and Forecast to 2029
Property Management Software Market Analysis and Size
Different software has been developed to handle maintenance and repairs, as well as ongoing property administration, but PMS is gaining popularity because it provides a framework for property owners to achieve their goals. Furthermore, the expansion of capital and income by investors or developers is attributed to the growth of the property management software market.
Data Bridge Market Research analyses that the property management software market was valued at USD 567.78 million in 2021 is expected to reach the value of USD 720.25 million by 2029, at a CAGR of 7.00% during the forecast period. The major factors driving the growth of the farm management software market are an increase in the rate of digitization, particularly in developing economies, growing adoption of property management software solutions by small and medium-sized businesses, and an increase in the proliferation rate of smartphones.
Property management software, as the name suggests, is a technological system used by property managers to manage administrative and financial tasks with a single click. Property management software makes it possible to perform and manage many property-related activities and operations in real time, such as document storage and sharing, financial reporting, and integrated banking.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Million, Volumes in Units, Pricing in USD
By Component (Software, Services), Application (Commercial, Residential), End User (Housing Associations, Property Managers/ Agents, Corporate Occupiers, Property Investors, Others),
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Adobe (US), Oracle (US), HubSpot, Inc. (US), SAS Institute Inc. (US), HP Development Company, L.P. (US), SimplyCast (Canada), Act-On Software, Inc. (US), Infor (US), Yesware, Inc. (US), Sailthru. Inc. (US), Vivial Inc. (US), Keap (US), IBM (US), SAP SE (Germany), Microsoft (US), ThriveHive (US), Demandbase, Inc. (US), WordStream (US), CAKE (US), and Chetu Inc. (India)
Property Management Software Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Rising demand from the real estate industry
Rising demand from the real estate industry, particularly in developing economies, will emerge as the primary market growth driver. Surging adoption of cloud computing in real-time farm management, rising adoption of new and advanced technology
- Increased investments in workforce managements
Rising scalability preferences among property managers and owners, rising investment in workforce management and quality monitoring, and strengthening IT industries in developing economies such as India and China will all exacerbate market growth.
Rising residential and commercial property construction, growth and expansion of the real estate sector, increased availability of high-speed internet access, and an increase in the number of research and development capabilities by major players are some of the other factors driving market growth.
The market's growth will be hampered by a lack of technological expertise in underdeveloped and developing economies, as well as an increase in the number of cybercrimes. Furthermore, a lack of awareness in developing economies, as well as rising security and privacy concerns, will impede market growth. Lack of strong infrastructural facilities in developing economies, as well as a lack of standardisation and data management efficiency, will all pose challenges to market growth rates.
This property management software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the property management software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post COVID-19 Impact on Property Management Software Market
The real estate industry experienced both a surge and a decline at the same time during the pandemic. During the first and second quarters of the pandemic real estate companies, managers, and property owners were primarily concerned with keeping visitors and tenants safe while also adhering to governmental laws and regulations. As a result, real estate property sales have decreased. Despite the fact that many corporate offices, schools, and colleges are still closed, businesses are opting for the work-from-home option. On the contrary, the pandemic provided an opportunity for property managers to introduce and use new automation tools, such as smart and AI-enabled property management software. The AI-enabled management tool collects data via Wi-Fi and responds to leads automatically, reducing operational risks and improving customer service.
Yardi Systems Inc. announced new functionality updates for its existing Yardi Breeze property management software during COVID-19 in April 2020. Online state-based lease documents, credit/debit card, ACH, or PayNearMe walk-in flexible payment options, and customer relationship management are among the new features. These features will assist property managers, vendors, tenants, and owners in remaining connected on a single platform while working remotely as a result of social distancing measures in the ongoing COVID-19 crisis.
Global Property Management Software Market Scope
The property management software market is segmented on the basis of component, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Property management software market on the basis of component has been segmented as software and services. Software has been further segmented into on- premise, and cloud. Services have been further segmented into system integration, training and support, and consulting.
On the basis of application, the property management software market has been segmented into commercial, and residential. Commercial has been further segmented into retail spaces, office spaces, hotels, and others. Others have been further sub segmented into airports, and seaports. Residential has been further segmented into multi-family housing/ apartments, single-family housing, student housing and others.
- Housing associations
- Property managers/ agents
- Corporate occupiers
- Property investors
Property management software has also been segmented on the basis of end user into housing associations, property managers/ agents, corporate occupiers, property investors, and others. Others have been further sub segmented into affordable housing and other specialties.
Property Management Software Market Regional Analysis/Insights
The property management software market is analysed and market size insights and trends are provided by country, component, application and end user as referenced above.
The countries covered in the property management software market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the property management software market and will maintain its dominance over the forecast period due to the prevalence of advanced IT infrastructure and rapid adoption of modern technologies in developed countries versus developing countries. During the forecast period, Asia-Pacific will continue to experience significant gains and will have the highest growth rate. This is due to the increasing rate of economic digitization, increased application by the real estate industry, and increased investments in the development of IT infrastructure in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Property Management Software Market Share Analysis
The property management software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to property management software market.
Some of the major players operating in the property management software market are:
- Adobe (US)
- Oracle (US)
- HubSpot, Inc. (US)
- SAS Institute Inc. (US)
- HP Development Company, L.P. (US)
- SimplyCast (Canada)
- Act-On Software, Inc. (US)
- Infor (US)
- Yesware, Inc. (US)
- Sailthru. Inc. (US)
- Vivial Inc. (US)
- Keap (US,
- IBM (US)
- SAP SE (Germany)
- Microsoft (US)
- ThriveHive (US)
- Demandbase, Inc. (US)
- WordStream (US)
- CAKE (US)
- Chetu Inc. (India)