New York, United States, Aug. 17, 2022 (GLOBE NEWSWIRE) -- The property management software offers a centralized location to view all properties and allows for managing other property-related activities, such as tenant requests and maintenance jobs. It mainly offers online document sharing and storage, electronic lease agreements, financial reporting, online maintenance requests and tracking, accounting tools, and integrated banking, among other applications. PMS management solutions have transitioned from manual to automatic in recent years. The automated property management system has improved the property management software, lowering human error rates and allowing property managers to distribute work assignments to avoid service interruptions efficiently. The amount of time needed to respond to complaints and grievances from tenants or owners is decreased by an automated PMS.
Additionally, it streamlines the processes involved in managing rental properties by, among other things, making it easier to collect rent, keep track of finances, improve communication, and store lease agreements and other paperwork. Data entry is typically done by hand into spreadsheets like Microsoft Excel, Notepad, or others, which is a slow, inefficient, and error-prone process. Additionally, landlords either manage their properties themselves or employ outside property managers, which necessitates a more significant time and labour commitment. Property management software was created; as a result to eliminate human error and automate the process for increased productivity. The work of property owners and managers has been streamlined and automated, thanks to the widespread availability of PMS.
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Evolving Trend of Workforce Mobility to Strengthen Growth
In contrast to working in an office, corporate headquarters, or overseas branch of an organization, many workers now prefer to do so from home. This influences the requirement for flexible access to office resources and data. Additionally, companies are using virtual workplaces to drastically cut down on the physical infrastructure they require, giving them more flexibility and effective use of office space. Many businesses look for integrated facility management solutions for the workplace, mobility, and other issues. Due to this, property managers can continue working quickly and efficiently despite having a large workforce. These options can be used by related real estate agents and property managers to keep track of all the properties they oversee and the necessary routine maintenance. As a result, the asset management industry is benefiting from the growing trend of employee mobility.
Demand for SaaS-based Software Is Growing
SaaS (software as a service) and cloud computing integrated services have taken over as the preferred means of providing services. Subscription-based SaaS solutions have advantages for businesses of all sizes. SaaS solutions are being used by businesses to automate workflows and remove manual input, which helps them run more efficiently. Businesses can also lower the complexity and cost of on-premises Deployment by implementing SaaS solutions. Large multifamily property management companies can integrate different technologies across their portfolios thanks to SaaS software. The SaaS methodology is also necessary for older systems to be compatible with multi-vendor devices. Data-driven real estate organizations depend on their employees to make critical decisions using the most recent information. The inability to use offline networks to get data from anywhere significantly hinders decision-making.
Additionally, SaaS solutions enable users to access information using any internet-enabled device from any location. The SaaS model also makes integrating multi-vendor platforms into existing systems more accessible. Property managers can use a SaaS platform to integrate their property solutions with cutting-edge payment services to enable quick and easy transactions.
Report Scope
| Report Metric | Details |
| Market Size | USD 39.51 Billion by 2030 |
| CAGR | 10.21% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Deployment, Application, End-user and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | AppFolio, Inc., CoreLogic, Console Australia Pty. Ltd., Entrata, Inc., InnQuest Software, IQware Inc., MRI Software LLC, RealPage, Inc., REI Master, Yardi Systems Inc. |
| Key Market Drivers | The Evolving Trend of Workforce Mobility Increasing Demand for SaaS-based Software |
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Regional analysis of the Global Property management market
According to the region, the market is segmented into North America, Europe; Asia Pacific; Latin America, and MEA. The most significant portion of revenues came from North America. The existence of well-known players in the area is to blame for this. Since there are more hotel rooms in the U.S. than in any other country, it currently dominates the regional market for North America. The second-largest market share was attributed to Europe. Asia Pacific is predicted to have the fastest CAGR growth in the market.
Key Highlights
- The global property management market size was valued at USD 16.47 billion in 2021 and is projected to reach USD 39.51 billion by 2030, registering a CAGR of 10.21% from 2022 to 2030.
- The Global Property management market is segmented by Deployment, application, end-user, and region.
- By deployment type, the market is bifurcated into Cloud and On-Premises. The cloud segment had the largest revenue share and is anticipated to maintain its dominance throughout the forecast period.
- Based on application, the market is categorized into Residential and Commercial. The residential segment held the largest market share and is anticipated to maintain its dominance throughout the forecast period.
- The End-user segment is divided into Housing Associations, Property Managers/ Agents, Property Investors, and Others. The segment of property managers/agents generated the most revenue.
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Some prominent players in the global property management software market include
- AppFolio, Inc.
- CoreLogic
- Console Australia Pty. Ltd.
- Entrata, Inc.
- InnQuest Software
- IQware Inc.
- MRI Software LLC
- RealPage, Inc.
- REI Master
- Yardi Systems Inc.
Market Segmentation
Deployment
- Cloud
- On-Premises
Application
- Residential
- Multi-family Housing/ Apartments
- Single-family Housing
- Others
- Commercial
- Retail Spaces
- Office Spaces
- Hotels
- Others
End-user
- Housing Associations
- Property Managers/ Agents
- Property Investors
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Property Management Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Deployment Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Cloud
5.2.1 Market Size & Forecast (Value & Volume)
5.3 On-Premises
5.3.1 Market Size & Forecast (Value & Volume)
6 Application Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Residential
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Commercial
6.3.1 Market Size & Forecast (Value & Volume)
7 End User Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 Housing Associations
7.2.1 Market Size & Forecast (Value & Volume)
7.3 Property Managers/ Agents
7.3.1 Market Size & Forecast (Value & Volume)
7.4 Property Investors
7.4.1 Market Size & Forecast (Value & Volume)
7.5 Others
7.5.1 Market Size & Forecast (Value & Volume)
8 Regional Overview
8.1 Introduction
8.1.1 Market Size & Forecast (Value & Volume)
8.2 North America
8.2.1 Economic Overview
8.2.2 Market Scenario
8.2.3 U.S.
8.2.4 Canada
8.2.5 Mexico
8.3 Central and South America and the Caribbean
8.3.1 Economic Overview
8.3.2 Market Scenario
8.3.3 Brazil
8.3.4 Argentina
8.3.5 Colombia
8.3.6 Rest of Central and South America and the Caribbean
8.4 Europe
8.4.1 Economic Overview
8.4.2 Market Scenario
8.4.3 Germany
8.4.4 France
8.4.5 The U.K.
8.4.6 Italy
8.4.7 The Rest Of Europe
8.5 Asia-Pacific (APAC)
8.5.1 Economic Overview
8.5.2 Market Scenario
8.5.3 China
8.5.4 Japan
8.5.5 India
8.5.6 Australia
8.5.7 South Korea
8.5.8 Rest Of APAC
8.6 Middle East
8.6.1 Economic Overview
8.6.2 Market Scenario
8.6.3 South Arabia
8.6.4 The UAE
8.6.5 Qatar
8.6.6 Oman
8.6.7 Turkey
8.6.8 The Rest Of Middle East
8.7 Africa
8.7.1 Economic Overview
8.7.2 Market Scenario
8.7.3 Nigeria
8.7.4 South Africa
8.7.5 The Rest Of Africa
9 Competitive Landscape — Manufacturers & Suppliers
9.1 Competition Dashboard
9.2 Industry Structure
9.3 AppFolio Inc
9.3.1 Business Overview
9.3.2 Financial Performance
9.3.3 Recent Developments
9.3.4 Portfolio
9.4 CoreLogic
9.5 Console Australia Pty Ltd
9.6 Entrata, Inc.
9.7 InnQuest Software
9.8 IQware Inc.
9.9 MRI Software LLC
9.10 RealPage, Inc.
9.11 REI Master
9.12 Yardi Systems Inc.
10 Conclusion & Recommendation
11 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/property-management-market/toc
Recent Development
- In June 2022: AppFolio Launched AppFolio Stack™ Marketplace to Modernize Property Management Software Integrations. AppFolio, Inc. (NASDAQ: APPF), a leading provider of cloud business management solutions for the real estate industry, announced AppFolio Stack™, an integration marketplace, enabling AppFolio Property Manager users to seamlessly provide the specialized solutions users need to manage complex portfolios and run their entire business from a centralized hub.
- In April 2022: Entrata Announced Expansion Into Canada. Entrata, the maker of the multifamily industry’s leading operating system, announced it has expanded into the Canadian property management market.
- In March 2022: Reapit set to expand its portfolio with the acquisition of a leading proptech company, Console. Reapit, backed by private equity firm Accel-KKR (AKKR), announced the acquisition of Console Group Pty Ltd.
News Media
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