According to IMARC Group’s latest report, titled “Property Management Software Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2022-2027”, the global property management software market reached a value of US$ 2.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.2 Billion by 2027, exhibiting a CAGR of 5.4% during 2022-2027.
Property management software (PMS) is extensively used to manage the operations of residential, commercial, and hospitality accommodations. It is also used by property managers to automate financial, back-office, and administrative processes. PMS performs several functions, including integrated banking, generating electronic agreements, storing and sharing documents, and financial reporting. It also helps minimize the need for manual labor for performing trivial tasks, such as scheduling meetings, tracking leaseholders, and collecting rent. As a result, PMS is widely employed across residential and commercial properties.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The increasing infrastructure development and the rising demand for web-based services, such as software as a service (SaaS), are some of the prime factors driving the property management software market growth. Additionally, the integration of artificial intelligence (AI), virtual reality (VR), machine learning (ML), and cloud computing with property management software to provide a centralized platform is acting as another factor bolstering the market growth. Besides this, the surging expenditure power of consumers, significant expansion in the real-estate sector, and rapid automation across industries are creating a positive outlook for the market growth.
Property Management Software Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the property management software market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Accruent LLC (Fortive Corporation)
- Appfolio Inc.
- Chetu Inc.
- Console Australia Pty Ltd
- Corelogic Inc.
- London Computer Systems Inc.
- MRI Software LLC
- Oracle Corporation
- Realpage Inc.
- Resman LLC
- Yardi Systems Inc.
Key Market Segmentation:
The report has segmented the property management software market on the basis of component, application and region.
Breakup by Component:
- System Integration
- Training and Support
Breakup by Application:
- Retail Spaces
- Office Spaces
- Multi-Family Housing
- Single-Family Housing
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (Egypt, United Arab Emirates, Saudi Arabia, Turkey, Qatar, Iran, Others)
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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