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The property management market is estimated to grow at a CAGR of 2.73% between 2022 and 2027. The size of the market is forecast to increase by USD 49.45 billion. The growth of the market depends on several factors, including adherence to industry and government regulations for property listings, the increasing importance of customer-centric business processes, and increasing awareness of property management software and its benefits.
This report extensively covers market segmentation by application (construction and real estate, government, retail, hospitality, and others), deployment (cloud-based and on-premise), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The adherence to industry and government regulations for property listings is notably driving the market growth, although factors such as changing skill requirements for the adoption of emerging technologies may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The adherence to industry and government regulations for property listings is notably driving the property management software market size. Due to the rising security concerns regarding data security and physical security, several regulations need to be met before a real estate deal is closed. A property manager or real estate agent needs to be aware of the industry and government regulations related to property listings. Such regulations are different for different countries. In advanced economies, several rental and leasing laws are made compulsory by state governments, local authorities, and commissions. For instance rent and owner documentation, bank accounts reconciliation, requirements for data storage and retention, etc. Thus, owing to the adherence of property management to industry and government regulations for property listings, the global property management market is expected to witness growth during the forecast period.
Smart contracts based on the blockchain ecosystem is one of the major property management software market trends. Blockchain allows digital information to be shared across a network. This technology makes transactions and information exchange faster and more secure. This technology automates contract processing, saves the parties time and effort, and increases the security and transparency of real estate transactions. One of the most visible future trends in the real estate industry for startup companies is real estate tokenization. This practice allows certain assets to be converted into tokens that can be securely transferred between contracting parties. As an alternative currency, bitcoin has become the most popular cryptocurrency. Currently, several landlords accept rent and pay taxes with bitcoins. Ohio recently became the first state to accept bitcoin as a form of taxation. Thus, the integration of property management software with blockchain makes the software more secure, which in turn propels the growth of the property management software market share during the forecast period.
Changing skill requirements for the adoption of emerging technologies is the major challenge impeding market growth. The use of advanced technologies, such as artificial intelligence, chatbots, and machine learning, that can increase customer satisfaction is being introduced in the market to involve the customer in the management process as well as to help decrease the time taken to solve various problems, keeping the customer well informed. However, the right skills and expertise are required to understand and use such advanced technologies. Without the help of experts who have hands-on experience in such technologies, property managers will not be able to utilize the technologies efficiently. Thus, the changing skill requirements for the adoption of emerging technologies are expected to negatively affect the global property management market during the forecast period.
The property management software market analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Property Management Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
InnQuest Software - The company offers property management application called Oracle Property Manager which improves property accounting, property cost and manage properties. The company offers property management, revenue manager, booking engine, channel manager, and hotel CRM.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the construction and real estate segment will be significant during the forecast period. The main reasons for the growth of the housing market are the growing investments in smart city projects and smart parking infrastructure, as well as the growing investments in the development of commercial areas and commercial areas. Growing investment in retail in North America is boosting the growth of the regional market.
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The construction and real estate segment was valued at USD 103.63 billion in 2017 and continued to grow until 2021. Infrastructure development in the APAC region is another factor fueling the growth of the property management software market in the region. The demand for property management software is increasing in the region due to the need to accommodate a large number of workers who are moving from their hometowns to emerging cities in the APAC region. Such factors are expected to drive the growth of the segment during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Growing investment in smart city infrastructure, increasing investment in the retail sector and urbanization are the main reasons for the growth of the North American market. The North American real estate market is technologically mature due to the early adoption of technologies such as software-based services. Strong penetration of major vendors such as AppFolio Inc., London Computer Systems, and Entrata Inc. supports the overall growth of the property management market in North America.
In 2020, the construction industry in the region was severely affected by the COVID-19 epidemic. However, the start of vaccination campaigns led to the lifting of lockdown restrictions in the third quarter of 2020. This led to a recovery in construction activity, which increased the demand for property management services in the region. Consequently, such factors are expected to drive the growth of the market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Application (Construction and real estate, Government, Retail, Hospitality, and Others), Deployment (Cloud-based and On-premise), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
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Property Management Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.73% |
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Market growth 2023-2027 |
USD 49.45 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
1.92 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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Key countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
360 Mango Solutions Pvt. Ltd., Amadeus IT Group SA, CBRE Group Inc., Ciirus Inc., Digital Arbitrage Ltd., Ezee Technosys Pvt. Ltd., Guestline Ltd., Honeywell International Inc., Hotelogix India Pvt. Ltd., InnKey PMS, International Business Machines Corp., Koch Industries Inc., Microsoft Corp., Micro Star International Co. Ltd., Oracle Corp., SAP SE, Frontdesk Anywhere Inc., InnQuest Software, Northwind Commercial Real Estate, and Saaranya Hospitality Technologies Pvt. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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