Westford,USA, July 27, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the property management market is poised to witness incremental growth, primarily fueled by the increasing demand for web-based services, particularly software as a service (SaaS), and offered by property management software providers.
Browse in-depth TOC on the "Property Management Market"
- Pages - 270
- Tables - 94
- Figures – 75
The hotel property management sector presents a burgeoning opportunity and is becoming a notable trend in the property management market. There is a growing preference among hotel owners to outsource their property management needs as the nature of owning and operating a hotel can be highly demanding and complex. This has led to a significant increase in the demand for professional hotel property management services.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 3.15 Billion |
| 2030 Value Projection | USD 4.85 Billion |
| CAGR | 5.6% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Property Management Market
- CBRE Group, Inc.
- JLL
- Cushman & Wakefield plc
- Colliers International Group Inc.
- Savills plc
- Knight Frank LLP
- Newmark Group, Inc.
- BNP Paribas Real Estate
- Hines
- Eastdil Secured, LLC
- Avison Young
- Tishman Speyer
- Brookfield Asset Management Inc.
- Greystar Real Estate Partners
- Prologis, Inc.
- Lincoln Property Company
- FirstService Corporation
- KKR & Co. L.P.
- Lendlease Group
CloudSegment is Expected to Grow in the Market Due to Increasing Acceptance of Cloud Deployment
The cloud segment emerged as a significant revenue contributor, accounting for over 50% of the total revenue in the property management market, and this dominance is expected to continue throughout the forecast period. The increasing acceptance of cloud deployment has been a critical driver for this trend, particularly among various end users, including property managers, housing associations, and corporate occupiers.
The markets inthe North America retained the highest revenue share, accounting for over 60% of the global property management market. This commanding position is attributed to several factors, with major regional players being a significant driving force. The United States, in particular, stands out as the dominant player in the North American regional market.
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Solutions Segment is Expected to Dominate the Market Due tothe Wide Range of Offerings
The solutions segment of the property management market encompasses a wide range of offerings tailored to the diverse needs of property owners and managers. It includes lease accounting and real estate management solutions, facilitating efficient tracking and management of lease agreements, rental payments, and property portfolios.
Regional markets in the Asia Pacific are expected to grow exponentially in the property management market. Emerging economies are rapidly expanding. China, India, and Indonesia, in particular, will expand in relative size regarding global middle-class consumption. As a result, households may spend more than their essential needs, creating chances for real estate investment.
A comprehensive analysis of the major players in the property managementmarket has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Property Management Market
- Aurum PropTech recently invested $5 million to acquire a majority share in TheHouseMonk, a B2B SaaS firm operating in the rental real estate business. With this infusion of funds, TheHouseMonk plans to expand significantly into Europe and the United States while further solidifying its position in Asia's key market. The startup aims to leverage the investment to enhance its technological capabilities, particularly in artificial intelligence and machine learning (AI/ML), and broaden its product offerings to cater to a growing customer base.
- Plentific, a property management platform headquartered in London, successfully raised an impressive $100 million in a Series C investment round. This significant funding injection aims to expand the company's presence in the up-and-coming market. Additionally, Plentific intends to invest in various new product offerings, including the development of cutting-edge AI capabilities, to provide innovative and efficient solutions to its clients.
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Key Questions Answered in Property Management Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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