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The global property management software market registered a value of US$ 13.20 billion in 2018 and is set to grow with a CAGR of 5.8 per cent during the forecast period.
Property management software streamlines the day-to-day roles and responsibilities of landlords and property owners or managers and automates them. Property management software’s core functionality revolves around real estate management, either in terms of physical space, tenants, leasing, or accounting. Property management software supports a variety of residential and commercial property types and can be scaled up or down depending on the size of the property portfolio.
Software for property management can range from simple point solutions to a comprehensive platform for enterprise resource planning (ERP).
Real estate management software or brokerage management software can be useful for real estate agents or a back-office management agency, while facility management software helps users manage the operations and physical assets of industrial properties.
Market Insights
The global market for property management software (PMS) is driven by increasing global urbanization and digitalisation. The development of technology has increased the development of new property management software that is used to track maintenance, repair and other property-related information. In addition, the PMS is also driven by an increase in disposable income among individuals and an increase in the number of investors worldwide.
The software and its accessibility revolutionize how property management is performed and what can be accomplished by property management companies.
In June 2018, Yardi partnered with Liberty Property Trust. With this partnership, Yardi would deliver its Voyager software to Liberty Property Trust to offer various solutions for different functioning such as purchasing, invoice processing, and vendor management. Similarly, in July 2018, Trimble acquired Viewpoint, which offers a market-leading, scalable construction management software company based in the US that integrates contractors’ financial and resource management processes. This acquisition is expected to strengthen the process of property management of the company.
COVID 19 has left an unparalleled impact on growth of global property management software industry. The global property management software has witnessed very severe setback like never before. The demand for property management software is expected to be plunged by almost 20% in 2020, in terms of both volume as well as revenue. However, with the beginning of unlock process across the world and anticipation of COVID 19 vaccine to be launched during first half of 2020 is expected to bring recovery in demand for property management software.
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Based on the application, the market for property management software was segmented as commercial and residential. The commercial segment has the largest market share of more than 55% in 2018. The segment is driven globally by increasing demand for the workplace. Several companies and government agencies are investing in properties to develop their offices. In addition, the purchase and sale of various commercial properties among hotels, government, construction & real estate, retail shops and others is also expected to drive the segment globally. This software provides all information about the property and any disputes that may arise about it.
Asia-Pacific is expected to be the fastest-growing region due to increasing investment in the development of the infrastructure by the individuals, government, private company’s charity trust, and others. The increasing globalization and urbanization in the country are expected to drive the market in the region. Moreover, the increasing fraudulent associated with the property and flats is expected to drive the market in the region. China accounts for the largest market share in the Asia-Pacific region due to the growing population and continuous development in the infrastructure.
The global market for property management software was led by North America with a market share of more than 35.0 per cent in 2018. This is due to the increasing development of infrastructure in the region and the increasing number of migrants. Moreover, the region is one of the early adopters of technology, and increasing the trend of home-based work is one of the key factors driving the market in the region. As the operator can access the software from anywhere and can work with the help of the cloud by accessing the software integrated with it, allowing property agents to keep track of the properties and manage them accordingly.
Some of the prominent players operating in the Property Management Software market include JLL Incorporated, IBM Corporation, Oracle Corporation, Trimble Inc., SAP SE, RealPage Inc., Yardi Systems Inc., Console Australia, AppFolio Inc., MCS Solutions LLC, FSI Inc., ARCHIBUS Inc., Planon Corporation, Entrata Inc., Accruent LLC, London Computer Systems, and iOFFICE Inc.
Key questions answered in this report
- What was the market size of property management software in 2018 and forecast up to 2027?
- Which is the largest regional market of on-premise in deployment segment?
- What are the major trends followed in property management software market across different regions?
- Who is the key property management software companies leading the market?
- What are the key strategies adopted by the leading property management software companies in market?
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Table of Content:
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted
Chapter 2 Executive Summary
2.1 Market Snapshot: Global PMS Market
2.2 Global PMS Market, By Component, 2018 (US$ Bn)
2.3 Global PMS Market, By Deployment, 2018 (US$ Bn)
2.4 Global PMS Market, By End-User, 2018 (US$ Bn)
2.5 Global PMS Market, By Application, 2018 (US$ Bn)
2.6 Global PMS Market, By Geography, 2018 (US$ Bn)
Chapter 3 Market Dynamics
3.1 Introduction
3.1.1 Global PMS Market Value, 2017 – 2027, (US$ Bn)
3.2 Market Drivers
3.3 Market Growth Inhibitors
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends
3.5 Attractive Investment Proposition, by Geography, 2018
3.6 Competitive Analysis
3.6.1 Market Positioning of Key PMS Vendors, 2018
3.6.2 Key Strategies Adopted by the Leading Players
Chapter 4 Global Property Management Software (PMS) Market Analysis, by Component, 2017 – 2027 (US$ Bn)
4.1 Overview
4.2 Software/Solution
4.3 Services
Chapter 5 Global Property Management Software (PMS) Market Analysis, by Application, 2017 – 2027 (US$ Bn)
5.1 Overview
5.2 Commercial
5.3 Residential
Chapter 6 Global Property Management Software (PMS) Market Analysis, by Deployment, 2017 – 2027 (US$ Bn)
6.1 Overview
6.2 On-Premise
6.3 Cloud
Chapter 7 Global Property Management Software (PMS) Market Analysis, by End-User, 2017 – 2027 (US$ Bn)
7.1 Overview
7.2 Housing Associations
7.3 Property Managers
Chapter 8 North America Property Management Software (PMS) Market Analysis, 2017 – 2027 (US$ Bn)
8.1 Overview
8.2 North America PMS Market Analysis, By Component, 2017 – 2027
8.2.1 Market Analysis
8.3 North America PMS Market Analysis, By Deployment, 2017 – 2027
8.3.1 Market Analysis
8.4 North America PMS Market Analysis, By End-User, 2017 – 2027
8.4.1 Market Analysis
8.5 North America PMS Market Analysis, By Application, 2017 – 2027
8.5.1 Market Analysis
8.6 North America PMS Market Analysis, By Region/Country, 2017 – 2027
8.6.1 U.S.
8.6.1.1 U.S. PMS Market Value, By Component, 2017 – 2027 (US$ Bn)
8.6.1.2 U.S. PMS Market Value, By Deployment, 2017 – 2027 (US$ Bn)
8.6.1.3 U.S. PMS Market Value, By End-User, 2017 – 2027 (US$ Bn)
8.6.1.4 U.S. PMS Market Value, By Application, 2017 – 2027 (US$ Bn)
8.6.2 Rest of North America
8.6.2.1 Rest of North America PMS Market Value, By Component, 2017 – 2027 (US$ Bn)
8.6.2.2 Rest of North America PMS Market Value, By Deployment, 2017 – 2027 (US$ Bn)
8.6.2.3 Rest of North America PMS Market Value, By End-User, 2017 – 2027 (US$ Bn)
8.6.2.4 Rest of North America PMS Market Value, By Application, 2017 – 2027 (US$ Bn)
Chapter 9 Europe Property Management Software (PMS) Market Analysis, 2017 – 2027 (US$ Bn)
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Chapter 10 Asia Pacific Property Management Software (PMS) Market Analysis, 2017 – 2027 (US$ Bn)
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Chapter 11 Rest of the World (RoW) Property Management Software (PMS) Market Analysis, 2017 – 2027 (US$ Bn)
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Chapter 12 Company Profiles
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Keywords: Property Management Software Market, Property Management Software Market Size, Property Management Software Market Share, Property Management Software Market Trend, Property Management Software Market Growth, Property Management Software Market Forecast
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