Research Nester published a report titled “Property Management Software Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global property management software market in terms of market segmentation by deployment model, application, end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global property management software market is anticipated to grow with a CAGR of ~6% during the forecast period, i.e., 2023-2033. The market is segmented by deployment model into on-premises, cloud. Out of these segments, the cloud segment is anticipated to garner the largest market share over the forecast period, owing to the growing expansion of cloud industry. In addition, increasing adoption of cloud in real estate industry is also expected to boost the growth of the segment in the coming years.
The global property management software market is estimated to garner a moderate revenue by the end of 2033, backed by the growingpopulation worldwide. Various features provided by property management software, including reservation management, operations management along with marketing support and payment processingare also projected to boost sales of these tools in the coming years.Moreover, rising tourism industry as well as increasing workforce migration is also projected to propel the growth of the market during the forecast period.
Geographically, the global property management software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is estimated to garner the largest market share over the forecast period, owing to the risingnumber of houses rented.
Apart from this, the market in Asia Pacific is anticipated to register significant growth in the coming years.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Adoption of Big Data Technology to Drive the Market Growth
According to the data, around 35%of the companies worldwide were running their organization on SaaS in 2020.
The adoption of SaaSis expected to accelerate the market growth in the coming years, as SaaS provide option of an integrated Customer Relationship Management delivered through Software as a Service solution as well as handles the growing complexities of the market, which further improves performance of real estate industry.Moreover, the increasing technological advancements as well as the increasing growth of the tourism industry are also expected to drive the growth of the global property management software market during the forecast period.
However, possibility of adopting the wrong system for operation as well as concern of affordability for smaller businesses are expected to operate as key restraints to the growth of global property management software market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the of global property management software market which includes company profiling ofYardi Systems, Inc., RealTimeRental, Oracle Corporation, IBM Corporation, Honeywell International Inc. AppFolio, Inc., Total Management, Buildium, LLC, Entrata, Inc., Trimble Inc.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the of global property management software marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.