Pune, India, May 11, 2021 (GLOBE NEWSWIRE) -- The global property management market size is predicted to reach USD 28.21 billion by 2028, exhibiting a CAGR of 9.3% during the forecast period. The increasing investment in R&D by key players has a positive impact on the market growth during the forecast period. According to the report published by Fortune Business Insights, titled “Property Management Market Size, Share & COVID-19 Impact Analysis, By Component (Software, Services), By Deployment (Cloud, On-Premises), By Application (Residential, Commercial), By End-User (Property Managers, Housing Associations, Real Estate Agents, and Others) and Regional Forecast, 2021-2028” the market size stood at USD 13.88 billion in 2020. Moreover, the rising upgradation in software with enhanced features to make the application easy and friendly for customers will spur business opportunities for the market in the forthcoming years.
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COVID-19 Impact:
Requisite for Property Management Solutions to Support Development Amid Coronavirus
The real estate and construction industry was severely affected by the COVID-19 pandemic. However, the strict guidelines imposed by the governments will spur demand for property management solutions among operators and owners. The rising adoption of smart processes and AI technologies will contribute positively to the market growth. The growing awareness regarding the health risks associated with COVID-19 has boosted the need for property management software. However, the high investments in digital solutions can hamper its adoption during the global pandemic.
What Does the Report offer?
The market report focuses and elaborates the definition, types, applications and major players in detail. Deep analysis about status, competition pattern, enterprise, industry development trends, regional industrial layout characteristics and macroeconomic policies, industrial policy has also been studied and provided within the synopsis. From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors and potential shareholders along with venture capitalists establish a bird’s eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivalled data in a well-organized manner.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Competitive Landscape:
Launch of Payments Platform by ManageCasa to Create Business Opportunities
ManageCasa, leading software management company announced the partnership with Stripe, a global leader in online payment processing to launch a new digital payments solution for the property management industry. This software will enable landlords and property managers to automate rent payments, other income charges and expense payments, and enjoy a fully-automated bookkeeping experience from end to end.
The introduction of the innovative software can be a vital factor in bolstering the healthy growth of the market owing to the timely automated payments and other reminders, aiding in fully-automated process for payments. Furthermore, the CEO of ManageCasa, said in a statement, “Sending and receiving payments has always been a challenge in our industry, often requiring lots of time and effort on the part of both property managers and tenants to meet in person to get rent and bills paid, “sending and receiving payments has always been a challenge in our industry, often requiring lots of time and effort on the part of both property managers and tenants to meet in person to get rent and bills paid. He further added, “we're thrilled to provide an online solution that will allow payments to change hands securely in just a few clicks."
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Regional Analysis:
Flourishing E-Commerce Industry to Spur Market Opportunities in North America
The market in North America generated a high revenue in 2020 and is predicted to grow rapidly during the forecast period owing to the surge in E-commerce. The rising investment by key players will augment healthy growth of the market in the region. Asia Pacific is likely to grow significantly and hold a significant property management market share during the forecast period owing to the increasing middle-class population in China, India, and Indonesia. The booming logistics, retail and hotel industry will contribute positively to the growth of the market in the region. The growth in E-commerce and technological advancements will enable speedy growth of the market in Asia Pacific. Europe is predicted to witness steady growth during the forecast period. The growth in the region is attributed to the growing focus of regional players towards advanced software.
Key Development:
February 2021: Yardi Systems, Inc., a major software provider introduced Rent Relief powered by Yardi, an all-in-one suit to help households and landlords manage payments quickly and easily.
The Report Lists the Main Companies in the Property Management Market
- AppFolio, Inc. (California, United States)
- Archibus, Inc. (Massachusetts, United States)
- CORELOGIC (California, United States)
- Entrata, Inc. (Lehi, Utah)
- Yardi Systems, Inc. (California, United States)
- ManageCasa (California, United States)
- Planon (Nijmegen, Gelderland)
- RealPage, Inc. (Texas, United States)
- SAP SE (Walldorf, Germany)
- Trimble, Inc. (California, United States)
- IBM Corporation (New York, United States)
- MCS Solutions (Antwerp, Belgium)
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Table of Content
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Property Management Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Primary Interviewee’s Key Responses
- Companies Profiled (Covered for key 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Property Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Component (Value)
- Software
- Services
- Consulting
- Support and Maintenance
- By Deployment (Value)
- Cloud
- On-Premises
- By Application (Value)
- Residential
- Commercial
- Retail
- Government
- Construction and Real Estate
- Others (Education, Industrial, and Hotel)
- By End-User (Value)
- Property Managers
- Housing Associations
- Real Estate Agents
- Others (Third Party Agents, Property Investors, Etc.)
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Component (Value)
- Global Property Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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