Property Management Market - Rising Demand for SaaS-based Software is Expected to Lead to the Market Growth - Growing at a Compound Annual Growth Rate (CAGR) 9.5% from 2022 to 2028.

Property Management
  • Property Management Market

As stated in our extensive report; the Global Property Management Market accounted forUSD 17.3 Billionin 2021.

The efficient and cost-effective Property Management Solutions are gaining popularity these days as Property Management solutions save time and energy. In addition, Property Management Solutions are easily available online through Property Management software that makes the Property Management tasks easier for the owner without needing to hire a third-party manager to manage the property. Property Management solutions encompass asset maintenance management, real estate management, lease accounting, and location management. These solutions are beneficial for property management. As they are efficient with the least cost associated. The Property Management Solutions segment is expected to lead the Property Management Market growth.

The advancements in cloud technology are expected to hold a large share of Property Management Market growth. Cloud deployment is more cost-effective and scalable. Hence, it is used by large volumes of end-users. Furthermore, cloud technology has brought the software aspect into the spotlight by prioritizing “how the software serves the clients.” Therefore, software developers mainly focus more on the technological aspects, increasing the number of cloud technology users.

The Property Management segment and the end-user segment are contributing to Property Management Market growth owing to the increasing number of commercial property development and housing associations. More properties, such as hotels, restaurants, and offices, are being purchased for commercial purposes. All the properties require Property Management to manage all the properties-related tasks. Hence, Property Management Solutions are gaining more popularity.

Workplace mobility is currently in trend. Organizations prefer to use the virtual workplace for their work. Since workplace mobility is quite advantageous in many ways for organizations and employees, to support this type of workplace mobility, employees must have access to all the data virtually. This is possible by the software. Property management solutions allow property managers to manage all property-related tasks by sitting at home. This, in turn, is contributing to Property Management Market growth on a large scale.

The has dominated the Property Management Market over the past few years and is predicted to grow more in the forecasted period.This is attributed to key factors like the presence of top market players in the region. In addition, the U.S. is dominating the regional market in the present scenario due to the rising number of hotel spaces in the area.

A few notable and key players in the Global Property Management Market include- IBM (US), Hitachi Vantara (US), JLL (US), Oracle (US), SAP (Germany), Trimble (US), RealPage (US), AppFolio (US), Yardi (US), MCS Solutions (Belgium), ARCHIBUS (US), FSI (UK), Planon (Netherlands), Accruent (US), Entrata (US), iOFFICE (US), Indus Systems (US), Total Management (US), Rentec Direct (US), PMX Dynamics (Canada), Hemlane (US), Property Boulevard (US), OfficeSpace (US), CIC (US), Archidata (Canada), Buildium (US), and others.