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), an application-based solution, is extensively used by property managers to automate back-office, financial and administrative operations. It is largely used to perform various functions, which includes generating electronic agreements, financial reporting, integrated banking, and storing and sharing documents. PMS also helps in minimizing the need for manual labor for scheduling meetings, collecting rents, and tracking leaseholders. Consequently, the property management software is widely used across residential and commercial sectors.
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 need for better customer handling and the rapid expansion of the real estate sector are prime factors driving the property management software market growth. Additionally, the integration of cloud computing, artificial intelligence (AI), virtual reality (VR), and machine learning (ML) with property management software to provide a transparent and centralized platform is providing an impetus to the market growth. Apart from this, the increasing construction activities, rising consumer expenditure capacities, and the rapid adoption of software-as-a-service-based (SaaS) business models 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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