Portland, OR , March 22, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global property management software market generated $3 billion in 2021, and is estimated to reach $4.7 billion by 2031, witnessing a CAGR of 4.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3 Billion |
| Market Size in 2031 | $4.7 Billion |
| CAGR | 4.9% |
| No. of Pages in Report | 207 |
| Segments Covered | Solution, Deployment Model, Property Type, and Region |
| Drivers | Increase in adoption of cloud computing solutions and software-as-a-service (SaaS) platforms, machine learning tools, and the internet of things (IoT). |
| Rise in the development of smart real estate infrastructure and growing dependency upon one platform approach. | |
| Opportunities | Surge in consumer demand for sustainable living and working space |
| Restraints | Lack of awareness regarding optimal software solutions |
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Covid-19 Scenario:
- The COVID-19 pandemic outbreak has a significant impact on the growth of property management software market, due to increased internet penetration, growing adoption of connected devices, and rise in the number of customer satisfaction tools.
- The pandemic compelled organizations across the globe to adopt remote work policies, leading to a rapid increase in demand for tools to support remote teams and workflows.
The report offers a detailed segmentation of the global property management software market based on solution, deployment model, property type, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on solution, the marketing and advertising segment held the largest share in 2021, accounting for more than one-fourth of the global property management software market, and would dominate through 2031. The accounting and cash flow management software segment, on the other hand is estimated to witness the fastest CAGR of 7.3% during the forecast period. The report also discusses the rental and tenant management, property sale and purchase solution, legal and insurance consultancy, and others segments.
Based on the deployment model, the cloud based segment held the largest share in 2021, capturing three-fourths of the global property management software market, and would lead the trail through 2031. The same segment is estimated to witness the fastest CAGR of 5.4% during the forecast period. The report also discusses the on premises segment.
In terms of property type, the commercial segment captured the largest market share of one-third in 2021 and is likely to maintain its leadership in terms of revenue during the forecast period. The residential segment, on the other hand, is likely to achieve the fastest CAGR of 5.6% through 2031. The report also studies the industrial and special purpose segments.
Based on region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global property management software market share, and is likely to maintain its leadership status during the forecast period. However, the market in the Asia-Pacific region is expected to manifest the highest CAGR of 6.0% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.
Leading players of the global property management software market analyzed in the research include Alibaba Cloud, Console Australia Pty. Ltd., Entrata, Inc., IQware Inc., Microsoft Corporation, Oracle Corporation, PropertyMe Pty. Ltd., REI Master Pty. Ltd., Rockend Pty. Ltd., and TAP Co., Ltd.
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The report analyzes these key players of the global property management software market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
